Agents & Brokers News

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 …

EFG Launches Home Warranty Product for Sale by Insurance Agents

EFG Companies has launched a home warranty product designed to be sold by insurance agents. The product, Simplicity Home Warranty, covers all non-manufactured, non-historic homes, regardless of square footage. The warranty includes protection for unknown pre-existing conditions; rust and corrosion; …

Marijuana and Workers’ Compensation on Industry’s Watch List

Editor’s Note: This is the third in a series of articles on the the marijuana insurance industry. Upcoming stories will include reports on potential changes to federal laws, and regional reports on how medical marijuana is impacting insurance in states …