An insured wants to downsize. They sell their house, move in with in-laws and buy a tenant homeowners policy with a Coverage C limit of $105,400. However, thieves break into the storage facility and steal everything.
When an agent reframes a common problem with a distinct perspective, they stand out, making people slow their social scrolls and lean in to hear a perspective they hadn’t considered before.
Relationships will always remain the heart of the insurance business. But in today’s environment, the agencies that combine strong relationships with operational efficiency will be the ones best positioned to grow.
If insurers have better visibility into whether home devices are active and functioning, they could intervene early, resolve installation or connectivity issues and ensure credits reflect genuine mitigation.
As property & casualty premiums continue to soften, here are five ways wholesalers and managing general agents can play a critical role in helping agents protect their accounts, retain clients and grow efficiently.
An insured had a foreign object go through his combine when harvesting. He called and reported the damage to the agent but didn’t know whether the damage would be over his $5,000 deductible. The agency submitted the claim around 50 days after the original date of loss. The company says they are only paying $2,500…
For agency owners contemplating perpetuation, a sale or simply benchmarking their business value, understanding the four trends is critical for business planning.
After a shopping cart was blown 30 yards across a parking lot into a client’s car, the agent believes the windstorm damage is a comprehensive loss. The adjustor says the object is a collision loss because the object must be falling to be caused by a windstorm.
Artificial intelligence (AI) allows employees to work smarter by eliminating mindless, repetitive tasks, but it is critical to realize its limitations and know that it is just one tool in your toolbox.
If a certificate of insurance (COI) holder is shown as an automatic additional insured when required by contract through a blanket additional insured endorsement and the coverage is cancelled, does the agent need to notify the certificate holder of the cancellation?
