| |  | | Special Feature * Advantages of Big 'I' Membership * Agency Management * Back to Basics * Commercial Lines * Personal Lines * Insurance Laws & Statutes/Coverage Resources
The next edition of Insurance Illustrated will be sent on January 5, 2025. Happy holidays from the Big "I." |
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| | Knowing and understanding the needs of clients requires you to understand the nuances of coverage and how they impact the insured’s business. One of the basics in property coverage, but often misunderstood, is property valuation. This article by a well-known underwriting expert takes you step by step through the various property valuation offerings. |
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| | Trusted Choice is excited to announce the launch of their newest resource - the Digital Performance Hub. This hub was created to help agents monitor their agency website's performance in real-time. A high-performing, well-optimized site not only builds trust but also elevates an agency's online visibility. With the Digital Performance Hub, agents can analyze their website's SEO in real-time, to help the, appear higher in search results and have a better chance at attracting more leads. |
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| | The title of this article says it all, except it’s those coverage gotcha’s the reader needs to understand. Numerous insurance policies are now intentionally filled with language allowing insurers to avoid paying a claim they would normally pay because of the demise of the doctrine known as the reasonable expectation of the insured. Several law firms have published articles suggesting that it would behoove insurers to hire knowledgeable coverage counsel to help draft exclusions to avoid paying claims that otherwise the carrier would pay, most of them being usual and customary as opposed to something obscure such as an environmental liability claim paid under a CGL. This article will focus on some of those gotchas. |
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| | According to Insurance Thought Leadership, it costs a business seven-to-nine times more to acquire a new customer than to retain a current client. So why aren’t today’s agents focusing more on cross-selling? This article examines ways to cross sell, with a thorough list of cross-sell coverage opportunities. |
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| | We were recently asked our opinion about whether personal lines CSRs could also handle small business accounts written on BOPs. While some CSRs can make the transition, it is fraught with perils. Find out what the VU experts think about the realistic expectations of such a change. |
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| | Our Ask an Expert (AAE) column provides independent agents with excellent advice on insurance coverage and agency management issues. This article outlines why the HO-6 form may not be appropriate for a condominium owned by a corporation. Here in Arizona, we frequently find that corporations own condos so their frequent visitors can stay, avoiding hotel costs. Our AAE experts handily tackle this question, so I won’t give away the ending. Read the article for more information. |
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| | The COVID-19 pandemic accelerated an already booming micro-business market, spurring a record number of non-employer and non-store retailer business applications, according to the U.S. Census Bureau, adding to the huge premium potential for insurers. Lack of or little basic insurance knowledge among many small business owners, combined with cost concerns, are contributing to significant underinsurance in the micro-business market. The ISO Micro-Businessowners program (Micro-BOP), complimentary with the ISO Businessowners program (BOP) subscription, offers simple language and ready-made coverages for micro-business needs, helping insurers overcome cost and education barriers. |
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| | Endorsements serve to alter any policy; this is true of workers’ compensation policies. This is a schedule and description of many workers’ compensation forms and endorsements. |
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| | Builders risk insurance helps owners and contractors involved in both commercial and residential new construction insure against the risk of property losses arising in their projects. Additionally, builders risk policies may cover renovations to residential structures such as custom homes, modulars or commercial structures. With the construction industry heating up in the past few years, builders risk policies have become very popular solutions to more complex remodels and construction projects. |
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| | Approximately 4.5 million dog bites occur in the U.S. each year, according to the Centers for Disease Control and Prevention (CDC). According to DogsBite.org, from 2005 to 2017, 433 Americans died from dog attacks. Of these fatalities, 65.6% were the result of attacks by pit bulls, with Rottweilers accounting for an additional 10.4%. There’s a lot for agents to know about dog liability and homeowners coverage issues. |
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| | Opinions vary regarding the widespread availability and ultimate acceptance in the US of fully autonomous vehicles. Some foresee widespread adoption of fully autonomous vehicles within the next “automotive generation” (within 12 years); others believe fully autonomous vehicles won’t be the “rule” for at least two or three automotive generations (24 to 36 years). Both sides have credible arguments, but only one can be correct. Regardless who is correct, how is legal liability altered during the transition to full autonomy? |
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| | Once again, we find ourselves in the deeply political and emotional debate about guns, the second amendment, gun control, and safety. This discussion requires us to clear up some misconceptions about guns, insurance, and the place of the insurance industry. We may even have to deal with some misinformation. |
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| | Because agents work in a contract-based industry subject to many legal concepts, understanding specific legal terms is necessary. |
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