At its core, fraud is an act of deliberate deception intended to secure an unfair or unlawful gain. It occurs when applicants, policyholders, third-party claimants, insurance brokers, and providers conceal information or manipulate circumstances to benefit themselves, often at the direct expense of others. No...
I recently had a question from an agent regarding how much debris removal coverage a client needs. Debris removal expenses are unknown until after a loss, so it’s impossible to know how much is enough. I always say, “I don’t know how much coverage you...
One of your clients, Bob Smith, contacted you and said he is considering acting as a general contractor to build his new home. He feels he could save money and asks for your opinion. How do you respond? First, this could require a legal opinion, and...
Before I get on my soapbox about what agencies say about themselves, I understand our duty. In most states, it is an agent’s duty to procure the coverage requested within a reasonable time or to otherwise inform the prospect/client of the inability to do so....
According to Forbes Advisor, roughly 10 million university students returned to campus in the fall of 2024, and an additional 3.2 million were enrolled as graduate students. Preparing for college is an exciting yet challenging milestone for parents and their kids. They focus on navigating...
We are often forced to change insurers for our clients. This is usually because the insured has received a premium increase or because a company has not renewed a policy for claims history. It is also possible that the company no longer writes the type...
I recently taught a webinar about certificates of insurance and talked about common coverage requirements we encounter. It's posted in Passport if you want to view it. When we review contracts or leases, we often see insurance requirements we can't comply with, either because our carriers...
My blog earlier this month discussed severe weather and wildfire preparation. I mentioned weather impact warnings for my area that could result in a rough couple of days. As anticipated, we got hit — 14 tornados, hail damage as I have never seen, and winds...
It's a little more than "Lions and Tigers and Bears, Oh My," but you get the idea. The frequency and intensity of catastrophic events have become a significant concern for insurers, agencies, and insureds. We know insureds must be adequately prepared. Are yours? When recently working...
I have been involved in insurance education for almost 40 years. Back in the 80s, I used to offer insurance training courses and would have great attendance because agents wanted to learn the information the courses offered. This all changed in the early 90s with...