Search found 45 matches

by NYagent301
Wed Jun 10, 2020 11:06 am
Forum: Opinions
Topic: Riots & Protection
Replies: 6
Views: 24589

Re: Riots & Protection

Copy and paste from a policy written today. As MBRCatz advises READ IT, yes be aware especially in our business the words "or" "any" & "and" TERRORISM RISK INSURANCE ACT Under the Terrorism Risk Insurance Act of 2002, as amended pursuant to the Terrorism Risk Insura...
by NYagent301
Thu May 04, 2017 11:05 am
Forum: Opinions
Topic: Plymouth Rock
Replies: 2
Views: 4099

Re: Plymouth Rock

Solid management, good company to work with. They do expect performance from their agents and reward accordingly, various incentive programs, premiums are competitive right now.
by NYagent301
Fri Sep 30, 2016 11:15 am
Forum: Opinions
Topic: Travelers reducing commissions
Replies: 69
Views: 157759

Re: Travelers reducing commissions

Welcome to the "new normal". In order for independents to be competitive with direct writers this is just a function of math. We're lucky to have choices of carriers to represent I know I always prefer to put my business with a company committed to the IA. I do not like companies like Trav...
by NYagent301
Tue Mar 22, 2016 11:02 am
Forum: Hard-to-Place Accounts
Topic: NY NJ PA MD DE Local trucking markets
Replies: 8
Views: 71141

Re: NY NJ PA MD DE Local trucking markets

National Indemnity through RPS
GMI Insurance - not sure who they use
by NYagent301
Mon Feb 22, 2016 1:37 pm
Forum: Opinions
Topic: Liability exposure co-signing for auto loan
Replies: 3
Views: 35304

Re: Liability exposure co-signing for auto loan

Depends on the state and motor vehicle laws. If a cosigner on loan only and not named on the title you are fine with liability but know you are on the hook if the loan is not paid and also can play in to your credit rating. If you are on the title you have a concern for liability, and follow what Bi...
by NYagent301
Thu Jan 14, 2016 11:55 am
Forum: Opinions
Topic: Workers comp ghost policy
Replies: 12
Views: 84131

Re: Workers comp ghost policy

I think what you refer to as a ghost policy, I know of as an "if any" policy. These are usually written in the Assigned Risk plan of the respective state, as a voluntary carrier would normally not want to touch it. This protects the Employer just in case they run into a situation where the...
by NYagent301
Tue Jan 05, 2016 12:33 pm
Forum: Opinions
Topic: DMV filing and 30 day notice of cancellation
Replies: 4
Views: 41930

Re: DMV filing and 30 day notice of cancellation

Never had this happen, but can you get your carrier to adjust the effective dates to a future date to coincide with the incumbent cancellation date? This may go a long way with your new client.
by NYagent301
Fri Oct 23, 2015 10:37 am
Forum: Hard-to-Place Accounts
Topic: Air B & B - California
Replies: 5
Views: 25930

Re: Air B & B - California

Standard HO policy takes in to account having roomers or boarders, albeit limited coverage. In the case if renting a "guest house" I hope you do not think this is covered as an appurtenant structure on a HO policy. Check with your carrier.
by NYagent301
Fri Sep 18, 2015 10:57 am
Forum: Opinions
Topic: NJ Broker Fee Regulation
Replies: 1
Views: 26697

Re: NJ Broker Fee Regulation

Insurance producers selling, soliciting or negotiating commercial lines insurance may charge and receive fees for services rendered to an insured or prospective insured. This is now true regardless of whether the producer is acting as an agent of an insurance company. Formerly, fees could not be cha...
by NYagent301
Tue Dec 23, 2014 12:02 pm
Forum: Opinions
Topic: "I don't want to tell you my current premiums"
Replies: 15
Views: 21013

Re: "I don't want to tell you my current premiums"

If the account is small and can be desk rated in 5 minutes I will give them a rate, provided that if I am in the ballpark they present their current policy to make a comparison of coverage. If it is a submission that involves apps, loss runs etc. I will never go to bat for a prospect without full di...
by NYagent301
Thu Oct 30, 2014 8:39 am
Forum: Opinions
Topic: Combinability of Interest
Replies: 9
Views: 24711

Re: Combinability of Interest

I know this is an old thread, but have a similar situation to what Santa Rosa says above. If an individual invests and owns two totally different companies example dynamite mfg and a pillow factory that they would be combined to one bureau experience mod and file number? Also I see a problem in havi...
by NYagent301
Thu Jul 31, 2014 10:53 am
Forum: Opinions
Topic: Damage to "Your work" exclusion on CGL policy
Replies: 52
Views: 162967

Re: Damage to "Your work" exclusion on CGL policy

NIce thread. The way I explain it is that "your work" as it pertains to property should be addressed in Property coverage. Installation Floater, Builders Risk etc. I agree with other posters also that CGL is not a warranty product.
by NYagent301
Thu Jul 03, 2014 8:40 am
Forum: Opinions
Topic: Definition of Employee-Business Auto Policy
Replies: 1
Views: 3608

Re: Definition of Employee-Business Auto Policy

Why complicate it? "Throughout this policy the words "you" and "your" refer to the Named Insured shown in the Declarations" You are correct the definition of employee can be problematic if a temporary employee.
by NYagent301
Fri May 30, 2014 11:40 am
Forum: Opinions
Topic: Building and Autos in the personal name(which is not a N.I.)
Replies: 3
Views: 5028

Re: Building and Autos in the personal name(which is not a N

Never had a problem combining named insureds as long as there is common ownership. Either put it in as Named Insured or the building owner as Additional Insured - Managers/Lessors. In the latter there does not have to be common ownership, and would apply if for instance the client had a triple net l...