Agency Operations

Is the accidental damaging of the electrical line faulty workmanship or ordinary negligence? Who is liable?

A homeowner had a loss where the HVAC system’s condensate pump failed due to a mechanical breakdown. The HO3 policy with an equipment breakdown endorsement—form 16016—with a separate $500 deductible appears to indicate the condensate pump and the resulting water damage should be covered under the equipment breakdown endorsement. The insurance carrier says otherwise.

An agency has a book of medium and large-sized commercial accounts with stable cash flow. Currently, they work with two premium finance companies and are considering handling it inside the agency in a designated department with an accounting team. What are the pros and cons of an insurance agency setting up and running its own…

Providing timely, accurate certificates of insurance is essential to keep clients’ projects and contracts moving. Yet, for many agencies, handling these requests has become a significant bottleneck.

What are the reporting requirements of a liability claim to the carrier that doesn’t write the underlying coverage?

A general contractor filed a claim after tools were stolen from an employee at an active construction project location. The carrier denied coverage, saying that the tools were not located at the insured’s premises.

The policy conditions for a homeowners policy state that the first named insured is the one who has the authority to cancel an insurance policy. Does that mean that the second named insured is not required to sign?

A client has been very belligerent to agency staff throughout the years yet still stays with the agency. If the agency gives a 60-day notice, can it non-renew this client?

This end-of-year episode of Agency Nation Radio is brought to you by the editors of Independent Agent magazine. Will Jones, editor-in-chief, hosts the discussion and is joined by Olivia Overman, content editor, and AnneMarie McPherson Spears, news editor.

A commercial lines prospect has a limit on business income and business personal property (BPP), but not on the building.