Agents & Brokers News

The Hartford Offers Safety Rewards, Discounts for Commercial Auto

The Hartford is offering small and midsize businesses the opportunity to receive commercial auto insurance premium discounts and rewards for safety. The company has also expanded its quoting system for agents and brokers to include small commercial auto coverage. The …

Burand’s Agency E&O Blog: Tip #64

Confirmation That Suit Papers Have Been Received by the Carrier. While not an every day occurrence, most agencies receive suit papers from various parties several times a year and these papers must be forwarded to the applicable insurance company immediately. This …

Progressive Announces New Boat Coverages in Florida

The Progressive Group of Insurance Cos., which insures more than one million watercrafts nationwide, has launched a line of new boating coverage options targeting Florida’s large population of boating enthusiasts. The Mayfield Village, Ohio-based company noted data from the National …

Burand’s Agency E&O Blog: Tip #63

Inflation Factors are Missing. Some property policies, particularly dwelling policies in personal lines, lack automatic inflation adjustment factors. These same policies often get less attention than other personal lines policies. Agencies that do review these policies annually often are reluctant to …

Large Agencies More Optimistic About Future Growth: Vertafore Study

Optimism over the future growth potential of independent agencies ties closely to the size of the independent agency, with larger agencies feeling more optimistic about future growth than their smaller counterparts, according to a new industry study. Some 70 percent …

Burand’s Agency E&O Blog: Tip #62

Producers and Staff Do Not Adequately Know the Agency’s Procedures. More often than many might expect, staff and particularly producers do not adequately know the agency’s procedures. This can be especially exasperating to agency owners who spent the money developing procedures. …

Burand’s Agency E&O Blog: Tip #61

Proper Authorization to Change Coverages Part II.  In Blog 14 I wrote about the need to verify the party requesting a change in coverage has the required authority to make such a request.  Another variation of this theme is more …

XL Group Adds Kidnap, Ransom & Extortion to Yacht Insurance

XL Group is adding a Kidnap, Ransom & Extortion Crisis (KRE) endorsement to its existing ShipShape and ShipShape Plus recreational marine insurance coverages, with limits up to $50 million. Under the new endorsement, yachts insured by ShipShape can choose liability …

All Trans Risk, Fireman’s Fund Target Para-Transit Industry

All Trans Risk Solutions and Fireman’s Fund Insurance Co. have launched AllParaPro, a specialty insurance product targeting the underserved non-emergency medical transportation company sector. In a statement, CEO Robert G. Lull for the Mahwah, N.J.-based All Trans noted that operators …

Insurance Noodle Launches New Facility for Salon & Spa Services Risks

Chicago-based Insurance Noodle has launched an integrated facility for spas and salons, offering access to multiple carriers through a single insurance application. The service promises agents they can simultaneously market their salon and spa services risks to all available carriers …