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?
