Virtual University

An agency frequently insures rental properties where the ownership structure is not straightforward. How much guidance should the agent give on how the named insureds should be listed?

What wording should an agency use in the Description of Operations field? Should an agency include additional insured status and waiver of subrogation by default, or only when the insured asks?

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?

A U.S.-based trucking client’s truck and cargo were stolen in Canada, but the carrier denied the claim due to a territorial exclusion. The loss happened “before the insured had a chance to read the policy.”

Mortgage lenders are requiring agents to supply a replacement cost estimate (RCE) for refinance closings. Is this something the agents should be doing?

A prospect bought a warehouse for $1 million. The replacement cost is $25 million but the owner only wants to protect their investment and has said they wouldn’t replace the building in the event of a total loss.

If your agency needs to use an interpreter to communicate with a customer, do you know what you need to document about the exchange?