Doing the Right Thing – It’s Complicated
When it comes to doing the right thing, our desires often get in the way. They cause us to veer down a crooked path that leads us away from what we should do to what we want to do. That’s …
Insurer’s Study Shows U.S. Refineries Plagued by Deadly Accidents
On the heels of a Tesoro refinery blast in Washington that killed five people, an insurance company report obtained by The Associated Press noted that U.S. oil refineries have an ongoing problem with accidents that turn deadly, losing four times …
Despite Tough Times, Insurance Industry Employee Benefits Secure
Independent insurance agencies and carriers’ top concerns for 2010 may be profit margins, cash flow, sales volume and marketing, the down economy and the possibility that it might falter again, but that doesn’t mean these companies are decreasing or reducing …
Business Moves
The Hanover, Campania Group Massachusetts-based The Hanover has completed its acquisition of Virginia-based Campania Group, which provides professional and general liability solutions for durable medical equipment suppliers and health care providers, including behavioral health specialists, eldercare providers, and podiatrists. Founded …
Declarations
Big Rig Giveaway “I like Volvos. … I really like the style of the new ones.” —Ron Terrill, a truck driver from Oklahoma, said he entered Cincinnati, Ohio-based Great American Insurance Group’s “Big Rig Giveaway,” for the first time in …
Calif. Proposes Agent/Broker Regs to Alleviate Under-Insurance
To alleviate concerns about homeowner under-insurance, the California Department of Insurance has scheduled a hearing for May 17 in Los Angeles to discuss proposed regulations governing standards and training for estimating replacement value on homeowners’ insurance. According to CDI, the …
Ethics: Don’t Cross Over to the Dark Side of Success
In the insurance industry, producers often are pushed to build customer relationships and bring in new business. Yet “the working environment has become so demanding that employees and managers are being pushed to find the gray areas to increase the …
The Other Time Element Coverages
Off-Premises, Contingent Business Income and Other Time Element Options for Clients The impact of recent high-profile natural catastrophes has brought to the forefront the need for businesses to have appropriate time element insurance coverage in place. With this raised awareness, …
E&O Insights: Dangers of Renewing Business Interruption Coverage ‘As Is’
Understand Where Property Coverage Ends and BI Coverage Begins It would probably be rather difficult to find many agents unaware of business interruption coverage. Most recognize that for their business customers, business interruption (BI) coverage is extremely valuable. It is, …
Dealing with the Cover-Up
Increase in Falsified Insurance Applications Tied to Economy One of the many consequences of a tight insurance market during tough economic times is that potential insureds may have difficulty obtaining coverage if they have bad loss records or conditions that …