While most homeowners are familiar with common risk areas and the technologies designed to mitigate them, relatively few have implemented these solutions in their own homes, according to The Hanover.
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?
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.
In response to the hard market, the Big “I” national Young Agents Committee (YAC) and Trusted Choice® created the Young Agents Tactical Series. This podcast and short video series equipped emerging leaders with knowledge and resources to help better serve clients during a challenging time.
Insurance agents play a key role in helping their clients prevent injuries, reduce claims, protect the health of their employees and safeguard the financial health of their businesses.
