Liability insurance protects the customer when something happens to someone else. Customers have liability exposures if they do something, sell something, have a place, go to a place or hire someone, among other activities. Liability policies provide money for damages, …
Have you ever thought about how much insurance a person should buy? If you ask the agent, she might tell you that they should buy as much as they can afford. If you ask the underwriter, he might tell you …
Got a really interesting question this week. The essence of it is that the agent has a customer with a homeowners’ policy. The company is planning to renew coverage with the house on Actual Cash Value (ACV), rather than Replacement …
Insurance policies are hard to read, and I don’t think that they necessarily need to be so. Some would say that we need to keep policy language intact because the language that is used in many policies has come through …
“The car’s just not worth anything.” “The state only requires…” “I don’t owe on it, so I don’t have to have it.” I’ve heard these sentences recently when talking to people about their insurance. Yes. I talk about insurance when …
Cyber insurance appears to still be a mystery, although the first cyber liability policies appeared 20 years ago. What is covered? What is excluded? Why does the customer need it? Does the customer need it? All of these questions and …
One of the questions that we get more often than I’m comfortable with is, “Do you provide continuing education credit?” The answer, for better or worse, is no, we don’t. You may disagree with our decision, but that’s what we …
I’ve held off commenting very much on THREE, the new three-page commercial policy by Berkshire Hathaway. It’s time for a few of my thoughts. It has only been filed in a limited number of states. So far, THREE has been …
I have a new hobby. It compliments one of my other hobbies, reading insurance policies. What is it? I’ve started reading legislation. What a thrill to print (yes, print) 16 pages of legislation. The numbered lines, the underscores and strikethroughs. …
It has been a long-held insurance axiom that flood is not considered an insurable peril due to its potentially catastrophic nature. Here is what the report, “Affordability of National Flood Insurance Program Premiums: Report 1” (National Research Council, 2015) says …
