Search found 106 matches

by darnovak
Fri Nov 14, 2014 7:45 am
Forum: Opinions
Topic: Top 10 Insurance Myths - incorrect
Replies: 3
Views: 33695

Re: Top 10 Insurance Myths - incorrect

My friend's auto is in the shop for repairs. He borrows my auto. He crashes my auto. I do not have collision coverage on my auto. The myth is that his policy will cover my car. It is not a myth. If his policy has collision on any of his vehicles and his policy defines my vehicle as a temporary subst...
by darnovak
Wed Nov 12, 2014 1:25 pm
Forum: Opinions
Topic: Top 10 Insurance Myths - incorrect
Replies: 3
Views: 33695

Top 10 Insurance Myths - incorrect

One of the myths involves someone borrowing your vehicle and crashing it. It is not a myth that their auto insurance will pay for your vehicle damages. The NY personal auto policy has (In the Insurance Agreement) a definition of Temporary Substitute Auto. In Part D: Coverage for Damage to Your Auto,...
by darnovak
Fri May 23, 2014 10:38 am
Forum: Opinions
Topic: Military folks - transfer of auto insurance
Replies: 0
Views: 11662

Military folks - transfer of auto insurance

House Bill would let Military Personnel Retain Auto Insurance When They Are Transferred reads a recent headline. So a soldier from Georgia is transferred to New York. The soldier's current Georgia personal auto conforms with New York insurance requirements so the soldier can drive his car bearing a ...
by darnovak
Wed Mar 12, 2014 12:01 pm
Forum: Hard-to-Place Accounts
Topic: Audit Premium Financing
Replies: 5
Views: 10409

Re: Audit Premium Financing

What your 'client' needs is a loan. Hope this isn't a 'triple whammy' which is 1) big audit premium, 2) renewal premium due, and 3) an endorsement to the already-issued-renewal increasing the basis of exposure (receipts, payroll, area, etc) to bring the renewal up-to-speed. These can be deadly! Once...
by darnovak
Mon Jun 17, 2013 11:03 am
Forum: Hard-to-Place Accounts
Topic: Garagekeepers Coverage - Florida Account
Replies: 4
Views: 9223

Re: Garagekeepers Coverage - Florida Account

Let's imagine one of the car owners hires a lawyer and takes the auto garage to court. A judge declares the garage responsible (legally liable) for the damage/theft to the vehicle. Now does the carrier pay the claim? A court of law has declared the garage legally liable. I have seen this happen in N...
by darnovak
Sat Apr 06, 2013 3:46 pm
Forum: Opinions
Topic: non compete clause
Replies: 12
Views: 49915

Good work - Farm Agent

Notice the first thing done was to consult an attorney. This 'weasel' made the intelligent and moral decision to play by the rules in CA. My advice is confirmed - get competent legfal advice and save yourself a load of problems. What could be simpler and more cost effective folks? Case closed.
by darnovak
Thu Apr 04, 2013 10:45 am
Forum: Opinions
Topic: non compete clause
Replies: 12
Views: 49915

Competent Legal Advice is what you need

Find an attorney knowledgeable in contract law and pay to have him/her go over your non-compete clause contract. Then follow their advice as it will be worth a hundred times (or thousands of times) what you pay them. Do not attempt to practice 'contract law' yourself or listen to the well intentione...
by darnovak
Wed Oct 24, 2012 11:49 am
Forum: Opinions
Topic: Do I need to schedule fine arts?
Replies: 15
Views: 24099

Re: Do I need to schedule fine arts?

I don't recall your inquiry asking anything about perils. Scheduling fine arts has nothing to do with perils. Depending on the product, fine arts coverage is provided on either a 'schedule' or 'blanket' basis. Refer to some specimen policies (or issued policies you have on file in your agency) that ...
by darnovak
Fri Mar 23, 2012 6:13 am
Forum: Opinions
Topic: Lessor Risk liability vs tenant liability
Replies: 5
Views: 12161

Re: Lessor Risk liability vs tenant liability

Do your carriers require tenant liability for 'lessor's risk' policies? if so, this would be set forth in the underwriting guidelines and/or the insurance contract itself. By the insured not having the required underlying (tenant's) insurance in place it may be considered a material misrepresentatio...
by darnovak
Sat Mar 10, 2012 9:48 am
Forum: Hard-to-Place Accounts
Topic: Farmers - Loss Runs - Fax NumbeR?
Replies: 2
Views: 9397

Re: Farmers - Loss Runs - Fax NumbeR?

Have the insured mail, email, or FAX a written request for loss runs to the address of the company shown on the declarations pages of the policies. A call to an associate who represents the carrier may yield you the info. You do have some fellow agents you can network with don't you? Usually a FAX r...
by darnovak
Thu Feb 23, 2012 9:47 am
Forum: Opinions
Topic: claims question
Replies: 5
Views: 6454

Court decision re: liable

Even though an insured's policy may exclude coverage under property or liability, the claimant can go to court (even small claims court) and if the court deems the insured 'liable' for the damages, the carrier (at least in my experience in NY) must pay - up to the policy limits of course. That's wha...
by darnovak
Thu Jan 05, 2012 12:35 pm
Forum: Opinions
Topic: Contingent Commissions question
Replies: 1
Views: 3131

Contingent Commissions question

Recently I read an article on Contingent Commissions in a national publication. It stated something similar to this: 'Knowing that best practices agencies rely heavily on contingent commissions...' I contacted the publication and the author and asked for proof to justify this statement. Having been ...
by darnovak
Thu Sep 15, 2011 11:25 am
Forum: Opinions
Topic: Do you recommend bonds or crime insurance?
Replies: 4
Views: 6231

Do you recommend bonds or crime insurance?

Seems like every other day I read in our local newspapers or hear on the radio where some thief has embezzled/stolen thousands of dollars from either their employer or an entity such as a Little League association, fire company, or American legion Post, etc. These news articles never mention a bond ...
by darnovak
Tue Aug 30, 2011 11:22 am
Forum: Opinions
Topic: Why Would an Agency Retain Trust Account Service?
Replies: 16
Views: 21070

Fiduciary Accounts

My agency maintains separate fiduciary accounts for each carrier (9) we have 'sweeps' for. This way one carrier cannot 'accidentally' oversweep and suck out premium $ owed to another carrier for whatever reason (NSF check from an insured maybe...) "But what about the costs of maintaining 9 sepa...
by darnovak
Mon Aug 29, 2011 10:49 am
Forum: Opinions
Topic: Online Auto Insurance Quote Process
Replies: 7
Views: 7796

Re: protect your email

Well, mhutch69 here is the solution: get a 'junk' email at one or more of the free email places like gmail, etc. use the junk email address for experimenting, sending wacko posts to sites like this (the posts to the news artiucles used to be chock full of cutesy little names...), etc. When it become...