Virtual University

How do you explain how a wind or hail buyback policy works? And is a deductible applied to these types of policies?

​A carrier is adding BP 04 71 Exclusion – Volunteer Workers to every business owners policy, even on BOPs for contractors. The agent doesn’t understand why a carrier would want this exclusion on an entity with little to no volunteer exposure.  In C. Who Is An Insured, the BOP includes: Your “volunteer workers” only while performing duties related…

​As we head into a new year, there’s no better time to equip producers with foundational insurance industry knowledge and concepts.

An admitted carrier in Texas tried to nonrenew a commercial umbrella policy that was due to renew in 30 days. However, the Texas insurance code says insureds must be notified of a nonrenewal 60 days before renewal. When the agent mentioned this, the carrier said it would extend coverage for another 30 days and then…

While cleaning a water tank, a contractor accidentally left the water outlet open. Sandblast media entered the city water supply and contaminated products in a cheese manufacturing facility.

Does a nonprofit organization that has a workers compensation policy in force also need uninsured/underinsured motorist coverage?

Should the uninsured motorist/underinsured motorist limits match those on the bodily injury and property damage liability coverage?

If a contractor receives payment before delivering the materials to the final installation point, are the materials still business personal property or have they become the personal property of others?

Is there a liability coverage gap for the sale of THC-infused drinks, with or without the addition of a liquor liability form? Does the definition of “intoxication” apply to only alcohol or more broadly?

What is the current best practice for storing those recordings in an agency management system (AMS)?