Tag Archives: Insurance agents

Is coverage for watercraft sufficient under a HO policy?

Now that it looks like winter is over and we are going right to summer, you might have some clients looking to put their boats in the water for some fun and relaxation. When insuring watercraft, there are typically a … Continue reading

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Does your proposal include this?

Let me ask you a question: When you provide a proposal to a client (current or prospective), what information are you using to develop that proposal? While there may be some information you can gather from websites or other third … Continue reading

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When selling the agency, how long of a “tail” should I buy?

You may be thinking that this is not an issue you need to worry about as you have no plans to sell your agency. While that certainly may be true today, there just may come a point where selling your … Continue reading

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Would you believe 1 in 10 contain an error?

How many insurance policies (personal and commercial) does your agency write? Let’s use for our example an agency that has 10,000 policies. Using 260 work days calculates to just short of 40 policies a day being sent out to customers. … Continue reading

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Is this insurance product on your exposure analysis checklist?

What’s the product? Product Recall insurance. According to an analysis that was done by Allianz Global Corporate & Specialty, “defective product-related risk is the single largest driver of liability claims” with losses from product recalls being the major contributor. Losses … Continue reading

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Are you familiar with the U.K. Insurance Act dealing with “Fair Presentation of Risk” ?

Oftentimes, I have used this media to communicate issues dealing with the importance of being honest with your carriers, This includes the material used to communicate the nature of the risk (the application) as well as other communication (i.e. answers … Continue reading

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Designing and Implementing an E&O loss prevention program is really not that difficult

From time to time, I become aware of agencies that have not officially implemented an E&O loss control program. They may have addressed some of the key issues but without any real formal recognition of the need for an increased … Continue reading

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‘Rideshare Guy’ Says 60-80% of Drivers Still Don’t Have Correct Insurance

The following is an interesting article posted on insurancejournal.com on December 8th indicating a significant number of the various ride-sharing drivers do not have the proper insurance. Have you identified which of your customers are involved in ride-sharing? Would probably … Continue reading

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One of the biggest misconceptions on E&O limits

Recently, I saw the results of an E&O survey conducted by Insurance Journal with one of the questions focusing on the E&O limit that agencies bought. Roughly half (49.4% to be exact) had E&O limits of $2million or less. If … Continue reading

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Do you have specific procedures for handling of claims–made policies?

It is certainly fair to say that claims-made policies have a tremendous amount of uniqueness to them. One of the key issues inherent in virtually all claims-made policies involves the issue of a “retro date”. This date will basically determine … Continue reading

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