Today is my 25th anniversary in this, the insurance business. I still very much enjoy the business (I don’t say I love it any more). During my tenure in the business I have learned many, many things about people and …
Commercial general liability (CGL) claims involve three parties: 1) the insured(s); 2) the insurer; and 3) the injured. CGL coverage part “A” is designed to protect all insureds against the financial consequences of “bodily injury” or “property damage” claims made …
Coinsurance provisions found in property policies exist primarily to assure that the insurance carrier receives adequate premium for the property insured. Without a coinsurance condition, and its applicable penalties, insureds might be willing to purchase an amount of coverage somewhat …
Recently I ordered a pizza from a national chain (no, not the one you’re thinking) and it was quite late arriving at my home. So late, in fact, that I called the store 45 minutes after I placed my order …
Insurance Services Office (ISO) recently released a “matched set” of drone-related endorsements for use with the commercial general liability (CGL) policy: three exclusionary endorsements and three “limited coverage” endorsements. All six endorsements have a 06 15 edition date and are …
What steps do you take to assure your client has the best insurance carrier? The “best” carrier is the one that best combines coverage (protection), service, and price. Coverage (Protection) Why do your clients buy insurance? Most say, “Because they …
Insurance Services Office (ISO) lists more than 100 endorsements available for use with the business auto policy (BAP) (the total number varies by state). Out of this mass of policy-altering endorsements, most designed to meet the needs of a specific …
First, the Reasons to NEVER Extend BAC Protection to an Individually-Owned Auto The employee’s Personal Auto Policy (PAP) extends coverage for most business uses of a covered auto. Using a BAC rather than a PAP may be a form of …
Businessowners Policies, traditionally referred to simply as “BOPs,” were introduced in 1976 and significantly revised in 1987. The BOP evolved gradually from the 1987 revisions to include risk classification and business sizes (sales and square footage) not contemplated in the …
Insurance is necessary for the survival and growth of any free market economy. Because of this necessity, insurance practitioners are expected to practice applying a high ethical standard; they are expected to know their profession. Education is one part of …
