Typically, the valuation of an auto is based on its value after a total loss. Thus, after an accident where the vehicle is determined to be a total loss, the insurance company will reimburse the policyholder for the vehicle's value. There are three different methods...
Recent statistics say almost 11 percent of households rent a storage unit, and this percentage does not include the number of those who rent more than one unit or those that rent a short-term unit for a month or two while moving. The point is: storage...
To place coverage in virtually any market requires the availability and utilization of third-party vendors or intermediaries. These vendors likely include wholesalers, MGAs, MGUs, or other entities that provide a product or service in the P&C marketplace or the benefits arena. Since it began in 1986,...
Think back to when you started your most recent job. Were you essentially told: here’s your desk, here’s your phone, let us know if you have any questions? Fortunately, that is not as common as it used to be. Today, probably more so than ever...
Insurance to value is a frequent topic for industry articles. Why, you ask? Due to current economic conditions, many properties may be significantly undervalued and thus underinsured. This includes both personal and commercial lines. What if I told you that some insurance experts have commented that...
As many of you know, I often use the phrase "E&O culture" in my discussions with agencies and my various articles, webinars, blog postings, etc. It is one of my favorite expressions. Recently while working with one of the new E&O Plus agencies, I was...
This may sound like a fundamental question, but quite honestly, there is a definite possibility that not everyone in your agency knows precisely what an E&O claim is. It is also quite possible that new staff may not truly understand this issue, especially if they...
Think back to a recent situation where you encountered a problem in your personal life. The issue may have involved a product you purchased or a service that was provided to you. Now think back to how the person you were dealing with handled the...
Remember this old game? Tell something to the first person in line and ask that they tell the next person what they were told and have that person tell the next one, and so on. Invariably, when you ask the 10th person in line what...
Most agency staff would probably say that they deal with their clients directly. After all, that is how agencies do business. While this may be true 99 percent of the time, there may be some situations where this is not the case. For example, consider...