Personal and Commercial Rates Continue to Rise in Q1 2025
Personal lines rate increases were driven by homeowners insurance premiums, while auto and umbrella and excess liability saw the most significant commercial lines rate hikes.
Virtual University
Should Subcontractor-Caused Damage Be Covered by General Contractor’s CGL Installation Floater?
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.
Does Endorsement CG 24 08 Add Liquor Liability to CGL?
A carrier added the endorsement to a commercial general liability form and says that the endorsement adds liquor liability to the policy, as it eliminates the liquor liability exclusion.
Does a BAP Cover a Claim Outside the Radius of Operations?
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 Repair Cycle Length Reaches All-Time High
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.
Delayed Repairs and the ‘Delay, Loss of Use or Loss of Market Exclusion’
A client’s commercial property suffered wind damage. Repair estimates were approved, but weather delayed the repair and the costs increased. The adjustor is denying the additional repair costs.
How Often Should AMS Data Backups Occur?
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?
How to Fulfill a State Requirement of $1 Million Limit on Damages to Rented Premises Coverage
A general contractor in New York is being required by a state authority to have $1 million limit for coverage for damages to rented premises. The commercial general liability (CGL) carrier can only issue a maximum of $300,000.
Does a PAP Cover Stepdaughter Borrowing Car and Living in Different State?
A client owns a car, which is titled in her name, and gives it to her stepdaughter to drive. How should the personal auto policy be written?
Builders Risk vs. Homeowners Endorsements for Luxury Home Renovation
A client is planning a $400,000 house renovation. Would a builders risk policy be the best option to cover the renovation, or are there specific ISO homeowners endorsements that can be added?
