Is selling on price a waste of time? Bad for the industry? Bad for the insureds? Could be. Selling on coverage and value is a viable alternative, and perhaps should be an agent’s default mode of operation.
The most common wording in professional liability policies — inclusion of “for a fee” in the definition of professional services — can render a policy useless when your insured performs pro bono or other non-fee services.
Continue reading about Is “For a Fee” Wording Leaving your Insured Bare?
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
