Announcing Progressive Expansion with Big "I" Markets
 Big "I" Markets is excited to announce that members in nearly all states can now access Progressive for personal & commercial auto, watercraft, and recreational vehicles! This market is not available in AK, HI or MI.
Commercial Auto
Progressive Insurance offers a wide range of commercial auto insurance programs to fit the needs of the small business operation. Whether it's for passenger autos or heavy trucks, Progressive can write the policy. We offer robust coverages for a wide variety of drivers and vehicle types, with accurate and competitive pricing that considers each risk independently. Examples of eligibility include:
Progressive offers robust coverage options such as:
- Higher Limits - up to $2M
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Any Auto Liability
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Hired Auto Liability
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Employers' Non-Ownership Liability
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Drive Other Car
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Roadside Assistance
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Rental Reimbursement
Personal Auto
Progressive is the #1 auto insurance sold through independent agents and brokers in the U.S. With Progressive, your customers will get competitive products and outstanding claims and customer service. We are confident that you can grow your agency by quoting all your business with Progressive!
Extra Coverage and Benefits:*
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Roadside assistance
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Loan/lease payoff
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Rental car reimbursement
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Custom parts and equipment value
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Rideshare coverage
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Deductible savings bank
Discounts:*
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Multi-policy discount
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Snapshot: Big discounts for good drivers
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Safe driver discount
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Multi-car
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Homeowner
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Sign online
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Paperless
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Continuous insurance
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Teen driver
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Good student
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Pay in full
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Automatic payment
*Coverages and discounts vary by state
Recreational Vehicles (Personally owned RVs Only)
 Progressive provides coverage for motor homes with an original cost new value up to $500,000. Also eligible are travel trailers, fifth-wheel trailers, pop-up trailers, truck-mounted campers, Airstream trailers and toy haulers (max value of $300,000). Bus Conversions (professional and non-professional) are also eligible. Maximum coverage limit varies by state.
Stationary units: Coverage and guidelines vary by state. Please contact underwriter to discuss eligibility.
Bus Conversions:
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Colored photos of interior and exterior are required (Front, Back and Side)
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Underwriting Approval Required
Extra RV Coverages:*
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Roadside assistance
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Total loss replacement
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Replacement cost/personal effects
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Vacation liability
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Full timer's liability
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Loss assessment
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Emergency expense coverage
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Pet injury coverage
RV Discounts:*
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Multi-policy
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Quote in advance
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Original owner
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Pay in full
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Responsible driver
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Prompt payment
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Claim free renewal
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Homeowners
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Continuous insurance
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Paperless
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Small accident forgiveness
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Large accident forgiveness
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Disappearing deductibles
*Coverages and discounts not available in all states.
To learn more or request a quote, log in to www.bigimarkets.com and select Auto & Home Standard Markets, Commercial Auto Monoline or Recreational Vehicles. Boats and Motorcycles can be insured through the Auto & Home Standard Markets product.
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SPECIAL FEATURE
Coalition Adds Five More Admitted States!
 Coalition's admitted cyber product is now available in the following states: AZ, CA, CO, DE, IL, MD, MN, MO, NC, NJ, NY, OR, PA, RI, TN, TX, UT & WI.
Technology Errors & Omission coverage is not currently available in the admitted policy in any state.
The following endorsements have not yet been approved in the admitted policy for Colorado, Maryland, Missouri or Texas:
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Breach Response Separate Limits
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Reputational Harm Loss
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Service Fraud
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Criminal Reward Coverage
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Court Attendance Costs
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GDPR Enhancement
All of the enhancements above are now available on an admitted basis in the follow states: AZ, CA, DE, IL, MN, NC, NJ, NY, OR, PA, RI, TN, UT & WI.
How do I obtain an Admitted Quote?
The process is nearly identical to obtaining a surplus lines quote. You will now notice a new button labeled "Get Admitted Quote" on the upper right-hand corner of your Coalition Dashboard where the "Get Quote" button used to be:
Just click on this button and you'll be taken to an identical set of questions used to obtain an admitted quote. If the risk falls outside the admitted parameters, you will be given the option to continue as a surplus lines quote.
Reach out to Carla McGee, your dedicated cyber liability program manager, at 800-221-7917, ext. 5495 if you have any questions or to walk through a quote.
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Community Bank Lender Liability Coverage
 In a previous article breaking down Community Bank coverage we covered Trust Liability and Director D&O. Today we'll cover Lender Liability. Several types of Lender Liability involve:
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Wrongful failure to honor a loan commitment
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Wrongful failure to renew a loan
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Deliberately creating a technical default or wrongfully declaring a default in order to generate fees and penalties or to acquire the property
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Improperly foreclosing a mortgage or a security agreement without giving proper notice or following proper legal procedures
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Wrongful interference with a borrower's day-to-day activities or the borrower's contractual relations with third parties
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Breaching a fiduciary duty that the lender may have assumed with respect to the borrower
In Siegner v. Interstate Production Credit Association of Spokane (PCA), the PCA loan officer made a series of promises about funding, assuring the plaintiffs that PCA understood the cattle industry was cyclical and that plaintiffs could take 10 to 20 years to pay off a capital loan. PCA also induced the plaintiffs to purchase a second cattle ranch.
When the time came to sign the loan papers, the plaintiffs noticed that the documents contained new provisions to which they had not agreed and that the document structured the real estate loan for only one year. However, based on the officer's assurances that they were mere formalities, the plaintiffs signed the documents.
When PCA failed to honor its oral promises the plaintiffs sued. PCA defended itself based on the parol evidence rule. The plaintiffs prevailed at trial and PCA appealed. The appellate court applied the parol evidence rule and found that the oral agreements were not inconsistent with the written agreement and were the type of agreements that might have been made separately. The court found that it would have been highly unlikely for the plaintiffs to have agreed to repay the loan in a year as reflected in the loan documents; if so, the plaintiffs would have purchased the ranch knowing with virtual certainty that they would lose it, as well as other assets, at the end of one year. A one-year loan would also mean that PCA had made the loan knowing it would be required to foreclose on it in one year. As a result, there was nothing inconsistent with loan documents prepared on a yearly basis, with a separate oral agreement to renew over a long period.
Among the many coverages offered by Travelers Community Banks Business Insurance is lender liability coverage and professional services liability coverage under its bankers professional liability insuring agreement:
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Lender liability coverage:
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Coverage extends to the bank, its directors, officers and employees
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An expanded definition of lending acts applies, including loan servicing when the bank has an ownership interest in a loan
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Professional services liability coverage:
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Coverage extends to the bank, its directors, officers and employees
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An expanded definition of professional services applies, with no need to schedule professional services to be covered
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Professional services include loan servicing on behalf of a third party
Critical Policy Features:
Directors and Officers Liability (D&O):
This policy provides liability protection when claims are asserted against directors and officers for actual or alleged wrongful acts. The assets of the company or organization, as well as the personal assets of its directors and officers, are protected from costly litigation.
Employment Practices Liability (EPL):
This policy helps protect company assets from employee lawsuits alleging discrimination, harassment or wrongful termination and other employment-related claims.
CyberRisk:
This policy provides coverage to protect against data breaches and other fast-evolving cyber exposures not covered by standard property and liability policies. The Travelers CyberRisk policy responds in multiple ways, such as security breach remediation and notification expense, network and information security liability, regulatory defense expenses, crisis management event expenses and computer program and electronic data restoration expenses.
Fiduciary Liability:
Fiduciary liability insurance responds to claims made against employers, employee benefit plans, board members and employees for breaches of fiduciary duty with respect to employee benefit plans. These claims can include allegations of imprudent investment of plan assets, excessive fees paid to service providers, non-compliance with plan documents, and false and misleading statements to plan participants.
Bankers Professional Liability Coverage:
Community banks offer a variety of services to customers, and such services continue to expand - especially with the evolution of the e-business platform. Personnel who manage these professional services, as well as the bank itself, could be liable if errors and omissions occur in the execution of services. With bankers professional liability coverage from Travelers, banks can be protected from a wide range of related exposures.
Trust Liability Insurance:
Among the many roles potentially served by a bank and its employees is that of trustee. As a trustee, a bank may be responsible for managing an estate, a trust account or other similar asset. This representation could occur in a variety of capacities, including executor, administrator, custodian, and other roles. But the banker who assumes this role, as well as the bank itself, could be liable if a customer is not pleased with the service provided, or if errors and omissions occur.
Professional Liability for Financial Institutions:
Professional liability coverage is designed to protect all types of financial institutions and their directors, officers, and employees from claims relating to the rendering of professional services. Insurance company professional liability insurance is intended to protect insurance companies from claims arising out of their claims handling. Financial institutions professional liability can assist banks and credit unions with lender liability and professional services claims.
Financial Institutions Bond:
Financial Institutions Bond, with optional endorsements for social engineering fraud, electronic signatures, virtual currency, and account takeover coverages, provides an important backstop against the actions of dishonest employees, protecting a financial institution's balance sheet, assets and stakeholders' investments.
Kidnap & Ransom (K&R):
This coverage helps safeguard companies and their key managers against the significant costs associated with kidnappings and extortion, including threats of bodily harm, property damage, product contamination, computer viruses or loss of trade secrets.
Identity Fraud Expense Reimbursement:
The coverage reimburses certain expenses relating to restoring a victim's identity, including lost wages, pre-approved attorneys' fees, long distance telephone charges, loan re-application fees and notary and certified mailing charges.
Travelers SelectOne® for Community Banks, underwritten by Travelers Casualty and Surety Company of America, is endorsed by the Independent Community Bankers of America. To find your local community bank, visit ICBA's community bank locator at www.icba.org/about/find-a-community-bank. Simply type in your zip code and the app will show you all the community banks in your area.
A specimen policy is located in "Product Resources" on www.bigimarkets.com.
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VU Webinars and Lightning Learning
Virtual University
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WEBINARS - Two-hours with CE in select states.
View the complete calendar, registration links and see what states have CE approval online. Registration includes live webinar, on-demand recording and a transcript.
LIGHTNING LEARNING - Twenty minutes each with a focus on Meeting Production Goal Requires More Work Than You Think
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July 9 - 11:30 a.m. ET - Key Information Needed to Write Condos
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July 16 - 11:30 a.m. ET - 7 Condominium Definitions You Must Understand
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July 23 - 11:30 a.m. ET - Who Insures Which Property?
Register once for the monthly Lightning Learning package and receive all sessions for one low price. Registration includes live presentations and on-demand recordings.
VU Webinar and Lightning Learning questions can be sent to VU staff. The 2019 calendar and all links are available here.
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Be one of the first five with the correct answers and win a $5 gift card (Starbucks, Dunkin' Donuts, Baskin Robbins, or Krispy Kreme).
Congratulations to this week's winners - Ed James (FL), Megan Yochum (OK), Lana Campbell (NM), Janet Lackey (OH), & Teresa Smith (MO).
1. How old was Joshua Motta, co-founder of Coalition, when he first went to work for Microsoft? - FIFTEEN
2. On this day in 1583 one of the first life insurance policies in Great Britain was issued for William Gibbons. With what disgraceful reason did the underwriters unsuccessfully try to claim the 1-year policy had already expired when Gibbons died on May 29, 1584? - The shortest month is 28 days and 12 increments of 28 days is 336 days. Gibbons died at 345 days
3. In 1977 Michel Treisman theorized that Motion Sickness is a result of the brain believing the conflict between the inner ear and visual perceptions was caused by what disrupting one of those systems? - POISON OR TOXINS
TIE BREAKER
TB - Charles Everett Jones threatened in December to do what criminal act to show his frustration with how his car accident claim was being handled? - TO BURN DOWN THE INSURANCE AGENCY OFFICE
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BIG "I" MARKETS SALE OF THE WEEK
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Janitorial services
