Search found 80 matches

by mccluney
Thu Sep 26, 2019 4:24 pm
Forum: Opinions
Topic: ACV vs Rep Cost for leased property loss
Replies: 3
Views: 19120

Re: ACV vs Rep Cost for leased property loss

Catz good call. You should ask the adjuster why the claim is not being paid out RC. Catz is correct if RC is available for this item, the copier must be replaced and the difference will be paid.
by mccluney
Thu Sep 26, 2019 10:59 am
Forum: Opinions
Topic: ACV vs Rep Cost for leased property loss
Replies: 3
Views: 19120

Re: ACV vs Rep Cost for leased property loss

First, review the policy coverage to see loss payment for leased property. Second, if ACV, then look for the exception for leased property under written contract. Usually if the client is responsible for loss, then RC coverage should apply. The major problem is that there is no standard coverage for...
by mccluney
Thu Sep 19, 2019 9:16 am
Forum: Opinions
Topic: Underwriting Non-Renewal Equity vs. New Business
Replies: 1
Views: 17839

Re: Underwriting Non-Renewal Equity vs. New Business

Sorry I do not see a problem here. Talk to the underwriter or marketing rep. to determine what they perceive is the problem with the risk. That will help to clarify and help you to underwrite the risk.
by mccluney
Mon Aug 26, 2019 4:23 pm
Forum: Opinions
Topic: Newbie, Should I Start a Farmers or Independent ?
Replies: 24
Views: 43901

Re: Newbie, Should I Start a Farmers or Independent ?

Insurance Guy That is kind of funny. I would contact the Independent Insurance Agency Brokers of America. They have agent chapters in most states. They have insurance markets without a volume requirement and you own the business they have many resources available including : " How to start an Indepe...
by mccluney
Tue Feb 19, 2019 6:33 pm
Forum: Opinions
Topic: CIC Designation
Replies: 12
Views: 39015

Re: CIC Designation

Well Mr. Page apparently has a nice small town agency that has been very good for him. But if you want to write larger commercial risks and if you are relatively new to insurance, the CPCU designation will go along way to obtain the experience/knowledge that Mr. Page has obtained through his many ye...
by mccluney
Tue Feb 19, 2019 1:42 pm
Forum: Opinions
Topic: CIC Designation
Replies: 12
Views: 39015

Re: CIC Designation

CIC is fine CPCU is better. CPCU will provide a breath of knowledge. The key to making money in this industry is knowledge, CPCU will make you a better producer and potentially put more $$$ in your pocket. If you decide to work for a company or a wholesaler the CPCU would be a good designation to ha...
by mccluney
Thu Feb 14, 2019 11:54 am
Forum: Opinions
Topic: Michigan Insurance Producer Ownership of Clients
Replies: 1
Views: 18669

Re: Michigan Insurance Producer Ownership of Clients

Hey just make sure you find an attorney that understands insurance laws and regulations. That is the best advice that I can give you. Lots of Luck
by mccluney
Tue Nov 13, 2018 12:21 pm
Forum: Hard-to-Place Accounts
Topic: HO-6 or DP1 DP2 for a rental condo
Replies: 7
Views: 29955

Re: HO-6 or DP1 DP2 for a rental condo

HO-6 only applies for an owner occupied residences. Need a DP3. Need to review the CCR's on the Condo Assn. As that will help determine how much dwelling coverage is needed. Interior structures, etc. stairs, fixtures and even interior walls and ceilings are rarely covered in the Assn. Policy. Need t...
by mccluney
Wed Oct 31, 2018 11:00 am
Forum: Opinions
Topic: Referral - consultant to start an insurance brokerage
Replies: 4
Views: 21814

Re: Referral - consultant to start an insurance brokerage

Hey there is a lot of truth in what Catz is saying. You also might wish to talk to a few insurance agents. What you are trying to do is difficult with no knowledge of the insurance business. I cannot imagine doing what you are attempting to do. Buy a lottery ticket instead.
by mccluney
Tue Oct 02, 2018 11:53 am
Forum: Hard-to-Place Accounts
Topic: Commercial auto
Replies: 7
Views: 27428

Re: Commercial auto

Wow There is much wisdom in d's insurance store's comment. Especially given the rate of increase in commercial auto lines premium in the past couple of years I recently quoted a transport carrier with a one ton P/U and a four-car hauler trailer. New venture. $30,000 annual premium Berkshire. They to...
by mccluney
Tue Jul 24, 2018 11:14 am
Forum: Opinions
Topic: College senior interested in insurance career
Replies: 5
Views: 15096

Re: College senior interested in insurance career

Hey Sr. I have been pondering what to tell you. I would stay away from State Farm and Farmers at this point there contracts for new hires are not friendly. Small independent agencies do not have the resources to hire and train you. At this point you lack insurance knowledge. I would suggest that you...
by mccluney
Fri Jan 26, 2018 3:28 pm
Forum: Opinions
Topic: Independent Start Up
Replies: 17
Views: 22709

Re: Independent Start Up

Well, as a "scratch independent agency" if you buy a book of business, there is no guarantee that the existing insurance companies will appoint you as an agent. Just be careful and make sure you have a place for the book of business you purchase.
by mccluney
Tue Jan 23, 2018 4:19 pm
Forum: Opinions
Topic: Independent Start Up
Replies: 17
Views: 22709

Re: Independent Start Up

Beachagent and d's insurance make valid points. Although I find d's to be a little bit cynical. There should be nothing in your State Farm contract to preclude you from joining the agent's assn. and discussing your career plans and how to best proceed. Do it!!! P.S. d's is an experienced independent...
by mccluney
Tue Jun 06, 2017 11:57 am
Forum: Hard-to-Place Accounts
Topic: Assembling Framing, but not a Framer / Licensed Contractor
Replies: 2
Views: 9216

Re: Assembling Framing, but not a Framer / Licensed Contractor

Wow. This risk is fraught with problems. 3 businesses GC. His "indirect" employees better produce work comp certs. State Fund is your only hope. I cannot imagine another carrier wanting to take on the potential problems associated with 3 separate business exposures.
by mccluney
Mon Jan 30, 2017 11:54 am
Forum: Opinions
Topic: Coverage for Knights of Columbus Hall
Replies: 7
Views: 5628

Re: Coverage for Knights of Columbus Hall

As the building is owned by a for-profit. A policy is needed as a lessors risk. I am assuming that the Knights operations are as a non-profit. A separate policy is needed for the activities of the non-profit. The non-profit as well as any other groups who rent the hall will need to name the for-prof...