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…
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.
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.
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?
What are the reporting requirements of a liability claim to the carrier that doesn’t write the underlying coverage?
An agency insures several contractors that do work for unit owners within a homeowners association (HOA). The HOA asked to be an additional insured on these contractors’ policies. Without incurring a large expense by scheduling the HOA as each job arises, what is the best way to endorse the contractors’ policies to include the HOA…
In the event of a claim—dog-related or otherwise—would the carrier be able to declare the policy void back to inception due to fraud or material misrepresentation by the applicant?
The insured died a week and a half before the renewal date but had already paid the renewal premium. The experts disagree on whether the policy was cancelled.
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?
