The Foundation for Community Association Research Factbook reported that 52.9% of U.S. housing was built prior to 1979, leading to aging roofs, failing plumbing, and more. “The habitational market has long been claim-ridden,” O’Connor Corrigan says. “High frequency, high severity—you know, the insurance covers accidents that are typically confined to one home, but now imagine…
One of the biggest exposures for an errors and omissions claims arises from certificates of insurance. When providing additional insurance, under the commercial general liability policy replace the need for a waiver of subrogation endorsement? Read this article to find out.
While the reality of today’s underwriting is often, “Does this fit the box?” today’s hard market has caused many agents to scramble toward wholesalers and carriers with heartier appetites. However, submissions swamp today’s underwriters, and they may only scratch the surface of an application before responding, “No way!” How do you get your underwriting submission…
Perfluoroalkyl Substances (PFAS) are a hot topic with Insurance Services Office rolling out forms to exclude coverage for PFAS. This article will provide what we know to date on this important topic.
A few recent articles highlight how many Americans, especially Millennials, supplement their income with side gigs. A side gig is work people start in addition to their main jobs. Side gigs can be full time or part time, and many people begin side gigs because they intend to transition into a full-time business. Many side-gig…
The habitational market struggles with a lack of capacity, increasing non-renewals, higher deductibles and restricted underwriting. How can the industry adapt to this hard market? This article covers current habitational risks in the multi-family market and offers tips for agents trying to place coverage.
As you handle more complicated commercial accounts, you’ll need to understand some often-used financial terms. Whether you’re furnishing your commercial insured’s financial data for underwriting or renewal or responding to audit assistance, here are the top financial terms you should know.
The business owners policy (BOP) is one of the most widely used commercial insurance policies designed to protect small-to-medium sized business owners. While the Insurance Services Office ISO form is readily available, many insurers develop their own BOPs, tailored to different types of businesses, from main street florists to restaurants to contracting businesses. If you’re…
Our Ask an Expert service offers Big “I” members insight into today’s risks or other coverage, technology, or agency management issues today’s agents encounter. This article offers insight into an important question we received: If I administer Narcan as a trained or untrained employee in emergency situations as required by the employer, will the employer’s…
Read any insurance trade journal, and you’ll see articles about how agents can “lead with workers compensation insurance.” Savvy insurance agents can increase their business by targeting employers with considerable workers compensation exposures. Often after the sale of the work comp policy, agents don’t stay as involved as they do on other lines of coverage.…
