Search found 81 matches
- Tue Apr 01, 2014 11:05 am
- Forum: Opinions
- Topic: Adding P&C to current practice
- Replies: 6
- Views: 9439
Re: Adding P&C to current practice
There is much truth in what d's insurance store has to say.
- Fri Jan 03, 2014 11:43 am
- Forum: Opinions
- Topic: Broker fees
- Replies: 10
- Views: 19748
Re: Broker fees
Wow: In CA if you are acting as an agent you cannot charge a broker fee. If you are acting as a broker you may charge a fee in addition to any other compensation. The CA Dept. Of Insurance requires full disclosure of the fee if a fee is charged for a personal lines product. They have a sample broker...
- Thu Oct 03, 2013 11:13 am
- Forum: Opinions
- Topic: Declination Statement - Earthquake Coverage
- Replies: 5
- Views: 37485
Re: Declination Statement - Earthquake Coverage
The only proper reply to your question is to have an attorney draft the statement.
- Wed Feb 27, 2013 11:57 am
- Forum: Opinions
- Topic: Online Competition
- Replies: 27
- Views: 31412
Re: Online Competition
R: d's insurance store. D's comments very astute. As an long time commercial underwriter now agent/broker. Unfortunately, I agree with every word D has commented on. The agents that will last longer will need to be very efficient and cold call-prospect-cold call and to do so will knowledge for the m...
- Fri Jan 11, 2013 4:02 pm
- Forum: Hard-to-Place Accounts
- Topic: Personal umbrella with commercial exposure on property
- Replies: 3
- Views: 10649
Re: Personal umbrella with commercial exposure on property
Be cautious the home business end. is not a broad as the CGL policy and the end. available with the CGL policy. Make sure the client's hazards are covered.
- Wed Nov 07, 2012 4:25 pm
- Forum: Hard-to-Place Accounts
- Topic: CGL for Various Consumer Goods Importer - CA
- Replies: 1
- Views: 6764
Re: CGL for Various Consumer Goods Importer - CA
Considering the products and the fact that the items are being imported, $25k is less than 1.5% OF SALES, is a very good price. The problem is that if the BI or PD claim is caused by the Manufacturer's product, the claim wil be paid by your importer's insurance company. They are not able to subrogat...
- Tue Aug 21, 2012 10:57 am
- Forum: Opinions
- Topic: Adding Value? Who Cares? And, who gets mad?
- Replies: 19
- Views: 28818
Re: Adding Value? Who Cares? And, who gets mad?
I am somewhat bemused by all of the posts on this issue. It is my understanding in CA under the California Fair Claims Act and included in most agent-company contracts is somewhat the following: "if the agent/broker has constructive notice of a claim." The claim must be immediately reporte...
Re: CPCU ??
If you have experience in life issues, what is your goal? it is difficult to maintain an expertise is every line of insurance. I am primarily a casualty-property commercial insurance broker. At one time several P-C insurance brokers decided it would be a good idea to optain their securities license ...
- Tue May 08, 2012 11:25 am
- Forum: Hard-to-Place Accounts
- Topic: Residential Apartment Building with Fuses - CA
- Replies: 3
- Views: 7485
Re: Residential Apartment Building with Fuses - CA
If you find a market, I would be shocked if the market would supply other than Basic form property coverages. Liability for the apatment owner could also be a factor. If the apartment owner will not upgrade, if I were the agent, I would "run away": would not like to be exposed to a potenti...
- Mon Apr 09, 2012 9:24 pm
- Forum: Hard-to-Place Accounts
- Topic: 1 or 2 Dwellings? - CA
- Replies: 5
- Views: 9355
Re: 1 or 2 Dwellings? - CA
Based on the facts as presented, it would seem hard to have the risk seen as a "personal lines" exposure. Best for agent to examine the risk and make a full disclosure including pictures. Companies in CA must offer earthquake coverage on risks with 4 residential units or less. They do not ...
- Tue May 24, 2011 10:33 am
- Forum: Opinions
- Topic: Continuing Education ... Masters Degree in Insurance?
- Replies: 7
- Views: 12029
Re: Continuing Education ... Masters Degree in Insurance?
A CPCU desigination is best. However, I would request an informational interview with a couple of Fortune 500 company's risk managers and solicit opinions. You really need to be focused on what aspect of the insurance industry you would be happy to work in. Too much education may be counter producti...
- Thu Dec 02, 2010 11:53 am
- Forum: Opinions
- Topic: Privacy Law situation
- Replies: 5
- Views: 6294
Re: Privacy Law situation
Sim's response as to what to tell the Dad is "right on". Many carriers will not issue a driver exclusion endorsement. These types of situations are difficult for the agent and the insured. The company's don't like the potential exposure. If I were the agent and I write the coverage with an...
- Tue Nov 16, 2010 11:57 am
- Forum: Opinions
- Topic: umbrella underlying limits
- Replies: 11
- Views: 12945
Re: umbrella underlying limits
So, to place Lady Brokers last Post into lay terms. The umbrella/Excess policy she refers to would provide coverage, but the insured would have a deductible of $1,000,000 ( assuming that the underlying requirement for the particular policy was $1.000.000.)
- Mon Nov 08, 2010 12:18 pm
- Forum: Opinions
- Topic: umbrella underlying limits
- Replies: 11
- Views: 12945
Re: umbrella underlying limits
If I am the retail agent, I will write a letter to my client to explain what would happen if an underlying policy is cancelled. The repercussions would be made clear if the client is not in compliance with the requirements in the umbrella policy should a loss occur. As the client may purchase the re...
- Fri Nov 05, 2010 11:40 am
- Forum: Opinions
- Topic: umbrella underlying limits
- Replies: 11
- Views: 12945
Re: umbrella underlying limits
You sure cannot guess the carrier's response as there in no such thing as a "standard umbrella or excess liability" policy. Read the policy and you will find the answer. I can't help but to wonder how the agent permitted the policy to be written without underlying coverage?