Agents frequently insure entities on whose boards they serve. There are inherent conflicts and dangers in this business-building approach. Exercise Caution!
Continue reading about Caution! — Agents on Boards – 2/4/10 Knowledge Knugget
Many agents serve on boards of directors, frequently non-profit, sometimes for-profit, and end up writing the entity’s insurance. From a D&O perspective, this creates an inherent conflict of interest, and from an Agents E&O perspective, often creates an uncovered cause of loss, should a claim arise. I think most agents who write insurance under these [...]
Some insureds like to handle their own claims — until they blow up. If the carrier is aware of this self-management and agrees to it, no problem. If not, the insured is risking an uncovered loss.
Continue reading about The Perils of Self-Management of Claims
Industry pundits suggest a gradual, prolonged hard market is on the way. Is underwriting sanity returning? Will the abysmally soft pricing of today yield to more reasonable market conduct?
Continue reading about Advisen suggests long-term hard market on the way
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