If you have any documentation that this former insured chose not to renew (i.e. a letter from him, copy of a letter you sent "confirming our conversation", etc.), then you may want to provide this documentation to them. If it were me (and fortunately, I've escaped the insurance agency/bro...

Hmmm...well, it's one of two things --someone in the insured's office didn't notice that the E&O didn't renew with you, and thought it was okay to amend the cert....or someone in the insured's office is a big liar. Since they did call you to see if you could help them place coverage again, I am...

I have a restaurant (pub and grill) that doesn't qualify for a BOP through a standard market (I'm in CA) due to the percentage of alcohol sales. I have received about five different quotes for GL/Liquor/Property (some including A&B) through the E&S market. However, so far they all contain an...

I think the answer is obvious but I am curious if others here would handle it differently. Scenario: A customer had E&O through my agency back in 2008. Did not renew due to price. Yesterday I get a fax from a state agency who he has a contract with asking to have something changed on his certifi...

Perhaps you can approach the underwriter with Functional Replacement Cost. Below is a link to a series of articles on property valuation that were posted over on My New Markets. Excellent info. Read the whole series. http://www.mynewmarkets.com/article_view.php?id=90742 I checked with the carrier a...

It could be on my E&O if the customer relied on my valuation of the property and recommedation to set the limits adequately to cover the value of the property. We are also living in an extremely litigious society and one where anyone cans sue anyone else for any reason. Agreed. I put the burden...

Admittedly, I have no direct experience with this but what I tell my clients is that the ACV is calculated at the time of loss, based on each item damaged, i.e. a 10 year old roof, with a life exptecancy of 20 years, would be depreciated by 50% and a ceiling with a life expectancy of 50 years would...

I have a risk which is a restaurant (cold kitchen, lunch/soup type place) in a building built in late 1800's (it has been updated of course). He owns the building. He is building an apartment above the restaurant in which he would live. This habitational is making in ineligible for a BOP with most m...

Good point, I forgot about this possibility. If the lease creates the insurable interest, then we're good to go.

Scenario: Insured is a corporation that has a business inside a building that is owned by one of the officers of the corporation as an individual. The corporation has a package policy that contains liability, building, and business personal property coverage. Is there an insurable interest problem i...

Rob, Good start. Another comment I regularly make to my agent mentor clients... Remember your position in the transaction. You are a peer, not a vendor. You are a trusted adviser with value to offer. "Frankly, some people take my advise and some don't. Those who follow my recommendations tend ...

The prior acts issue is absolutely vital as is the ability to buy a tail down the road. Just asking the questions will advance the idea that this is NOT a simple decision to be made by comparing premiums. Other questions to advance the perception that you are the guy to help... -Who is the carrier?...

Hi Rob. Many of these association plans limit coverage for "prior acts" and act like a "claims-made" contract without any tail coverage. That is one way for them to be less expensive. If you client is selling donuts it may be OK, but for an engineering firm that has years of pri...

Can someone point me to a resource which give the advantages vs. disadvantages of an engineering firm purchasing their coverage through an Association (or let me know of any disadvantages you know about). I've analyzed the policy and it is pretty straight forward. However, it defines the policyholde...

Would a carrier deny a property claim if on the application the insured indicates that the age of the roof (or electrical or whatever) is under 20 years and then at the time of a loss it is discovered that it was over 20 years, and the insured did not willfully misrepresent, but the information prov...