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...
Securing workers' compensation coverage in all states where employers have workers and payroll is critical. Failure to do so can create uninsured claims and the potential for a large E&O loss. When discussing WC coverage, it is important to ask, "Where do you currently have work,...
Having been in the industry for several years, I have had several opportunities to quote that new and exciting risk I have never quoted before. A challenge, something different, and the doors this may open. We have all been there, especially when you are a...
If you are wondering why I chose this title, it is a follow-up to my December E&O Plus webinar: "Wish I Had a Crystal Ball." The webinar aimed to make us think about where we have been, where we are, and, more importantly, where the...
The 80/20 rule, also known as the Pareto Principle, states that roughly 80% of the effects come from 20% of the causes, meaning that a small number of inputs disproportionately impact the outcome. The rule has since been applied in various fields, including economics, management, marketing,...
Over the years, "automatic status" additional insured endorsements have increased. In these endorsements, additional insured status is triggered by a written contract. Agents will indicate on a certificate of insurance that "additional insured status is added per written contract." Sometimes, this wording is mandated by...