I’ve got a risk I’m working on right now that causes me a great deal of agita. Main reason being that the insured doesn’t care about quality of coverage, doesn’t care if his policy covers anything at all, and just wants a cheaper policy than what he currently has. Normally, I wouldn’t even work on […]
Why is it that so very many underwriters and agents seem to be lacking in absolutely critical concepts that drive the insurance transactions? It seems to me that there is no in-house or out-house training in this subject matter, and no oversight to be sure the employee has grasped the concepts and is applying them correctly. […]
The longer I’m in insurance (and it’s been over 27 years now!) the more I realize there is to learn. For information gluttons, the industry provides an endless supply of fodder, and you can challenge yourself intellectually as much as you would like. No limit. There are also people (probably the majority) who are not […]
Agents are frequently provided insureds’ contract requirements in order to determine insurance needed. But contract requirements can go well beyond limits and Additional Insured status. Does an agent owe a duty to their insured to provide the coverage required by the contract? Or even more frightening — does the agent owe a duty to the insured’s client?
Agents are often befuddled when a professional liability carrier refuses to provide an additional insured endorsement or excess limits appear to be too expensive.