IRCOS, LLC wrote:A policyholder sued its property insurer for denial of physical damage that was allegedly caused by a contractor.

What basis did the insurance company give for denying the claim?

I have a renters insurance client. The complex is making renters insurance a qualification for signing a lease. The problem is the complex wants to be manuscripted as additional interest or interested party. The insurance company will not do it. Reasons against it seem obvious because it would be g...

It would appear to me that you do have a driver in the executor of the estate. I guess though, that my real question is, If there is no driver why do you need insurance? I would assume that it would be for drivers attempting to purchase the vehicle. In this case the executor of the estate would be t...

I'm not usually writing this type of account and it has been far too long....or am I just getting old. Perhaps it is having only 3 hours sleep. :( The client purchased a residential row home that has been converted into two different apartments. In completing the Acord 126, I realized that under th...

I have been in the collection industry for the past five years and have even had my own collection agency which I sold for a profit after being in business for only 7 months. Since then I decided to get out of the collection industry. I just recently obtained my P & C license and moved to Houst...

I have an HOA whose covenants require the unit owners to have their property carrier name the HOA as an additional insured on the unit owner's policy. Has anyone heard of this before, and how can any carrier be required to do this if the named insured does not agree to it? Under both the ISO and th...

We used to take personal checks, until just recently. Now that we are having to deposit the payments into our checking account, for the company to sweep our account, bad checks are expensive and costing us too much money. My book keeper brought a recent check, which bounced, for $95.00 to my attenti...

I HATE making myself look stupid, but with 26 years in this business I have to admit that I am absolutely clueless as to what K&R coverage is. I thought that I knew most of the 'alphabet soup'. Could someone please enlighten me? My true hope is that I'll recognize the name even if I don't recogn...

I've been watching this thead for several days and while I understand the concepts of Manufacturer's E&O and Products Liability, it sounds to me like this is realy an issue of Warranty of the product, i.e. the product not doing what it was designed for because of conditions outside of the manufa...

I have a wealthy Doctor that has watercraft (yachts, cigarette boats, jet skis, etc.) that are owned by the insured's single entity LLC. I am able to insure them on the underlying policies by having the Doctor as the named Insured and adding the LLC's as AI's. That works fine for the underlying, bu...

I just received a phone call from a carpenter we insure. He is a sub. The contractor wants all the subs to get wc insurance. My customer has no employees. Is there something out there for just him? Since he is not required to carry WC because of no employees and your state will not allow the insure...

darnovak, what you really said was. that you should babysit clients I sure hope you are calling every policyholder for every notice received on every policy and documenting every conversation. Talk about an E&O nightmare situation. Regards, what I really said was that you shouldn't babysit clien...

So, do you recommend not calling the lapsed clients or clients with pending cancellations? What do you do in your agency to help with these types of clients? yoyowordup 's response to steve32 is very appropriate with the exception of working for client retention. I think that what dev1nsan is looki...

The same carriers you use to write your condo risks should be able to write your Co-op risk. The only difference would be in the property coverage for the units. The policy would have to be written All Inclusive including any Betterments. Since it is a Co-op the Co-op actually owns all real propert...

[For those of you unfamiliar, in a condo association, each unit owner owns their unit outright and they also own a % of the common elements such as roof, etc. In a co-op, a corporation owns a building, and each tenant purchases shares in the corporation to get exclusive use rights for a specific un...