If an employee drives a regularly furnished company car and the employee and family members are injured in an accident while using that car, how is that claim covered?
Despite rising concerns, 26% of commercial property owners admit to knowingly carrying inadequate insurance coverage to account for severe weather events, an 8-point increase from 2023.
A COVID-19 hangover. The hard market. The movement of policies from the admitted market to excess & surplus lines. Whether a single factor or a combination is to blame, one thing is certain: Errors & omissions claims are on the rise.
A contractor with an ISO commercial general liability policy experienced a property damage claim. The carrier says it owes the actual cash value (ACV) for repairs but the agent believes the carrier owes the full cost to repair.
Roof repair and replacement cost value totaled nearly $31 billion in 2024, according to a report from Verisk.
A subcontractor called the general contractor and told him he moved a water supply line, after which a leak occurred. The sub filed a claim, but now denies he ever touched the supply line. The sub’s carrier won’t follow through with the claim.
If the insured has a claim outside the 500-mile radius, will the claim be covered? Is there a chance the carrier may wish to nonrenew or cancel?
Homeowners claims are taking longer to resolve than ever before with the average claim cycle time—from filing the claim to finished repairs—now 32.4 days, says J.D. Power.
How should an agency prepare for an agency management system (AMS) being down for an extended period of time, such as after a catastrophe or cyberattack?
As we head into a new year, there’s no better time to equip producers with foundational insurance industry knowledge and concepts.
