It Figures
$14.5 Million The amount in damages that a federal jury in South Carolina awarded to a South Carolina printing company against The Hartford insurance company in a case where the insurer believed a claim for a major fire loss in …
How Program Partners Can Help Agents Sell Value
There is a quote from Warren Buffet that I want to put on my wall and send to all my colleagues: “Price is what you pay. Value is what you get.” Agents, brokers and underwriters should heed Mr. Buffet’s advice. …
Agents: How to Avoid Traps of Selling on Price
The standard homeowners policy is increasingly a trap for consumers. Low rates!” “Lower your premiums!” “Compare and save!” Turn on the TV or search the Web on the term “homeowners insurance,” and you’ll be inundated with offers like these. To …
Florida Insurers Head Into Hurricane Season with Fingers Crossed
Florida’s property insurance companies haven’t suffered hurricane losses for nearly five years, but many claim to be losing money even while collecting hefty premiums. It’s a complex paradigm for almost anyone to follow. “We keep going round and round and …
Tennessee Agents Warned on Flood Insurance E&O Exposure
Some Tennessee homeowners have been surprised to learn their policies won’t pay for flood damage and an attorney and lobbyist is warning insurance agents not to admit to any wrongdoing if clients confront them about the problem. “Very important: DO …
Florida Hurricane Fund In Better Shape
The Florida Hurricane Catastrophe Fund is as healthy as ever heading into the 2010 storm season. An advisory council to the fund reported that it has enough cash and bonding ability to pay off more than $25 billion in losses …
People
Crump Insurance Services Inc. has invested in new talent for its Atlanta brokerage location. Terry Sherwin has joined Crump as the Atlanta office leader; and property brokers Alex Duran, Jordan Yoss and Carl Feldhaus have joined the Atlanta property team. …
20% of Drivers Would Flunk Test
The nation’s most knowledgeable drivers are in Idaho, Wisconsin, Montana and Kansas, while the least knowledgeable are in New York, New Jersey, Hawaii and California. That’s according to results from the 2009 GMAC Insurance National Drivers Test, which found that …
Mississippi Home’s Concrete Structure Cuts Insurance Cost
The Dubuisson home will resemble others in the traditional Pass Christian neighborhood when construction is complete this summer yet underneath will be a superstructure built to withstand 200 mile-per-hour winds and cut wind insurance premiums to $1,000 a year. The …
Flood Insurance Rates Cut for Properties Affected By Remapping
Property owners fearing they may be forced to buy expensive flood insurance under a push to draw up new floodplain maps will catch a break by being offered the coverage at sharply lower rates for two years, according to a …
