The producing agent or broker could have readily cancelled the liability policy if the business no longer desired the coverage. Wouldn’t that have been much more expedient than running to the courthouse. I’d wager the Pizzeria cancelled their orders for beer, cheese and other items during the its “radical slowdown” without filing lawsuits. Its called managing a business Flo
You are correct. Premium basis payroll and sales. The original premium was just an estimate. My agent friends out in west Texas are really crying. The drop off in the oil field has crushed the original estimates and they are looking at serious commission refunds. But sadly, this is just an example of a plaintiff attorney not understanding how the premiums are computed, and convincing some business owner that they have been “wronged”.
This title is misleading. The case was filed and not decided.
The headline does not say the case was decided.
The headline has since been changed. The original title gave the impression that a decision by the court had been made. Not the case.
The producing agent or broker could have readily cancelled the liability policy if the business no longer desired the coverage. Wouldn’t that have been much more expedient than running to the courthouse. I’d wager the Pizzeria cancelled their orders for beer, cheese and other items during the its “radical slowdown” without filing lawsuits. Its called managing a business Flo
With any luck their GL policy is auditable, and reduced sales and payrolls will result in reductions in both GL and WC earned premiums.
You are correct. Premium basis payroll and sales. The original premium was just an estimate. My agent friends out in west Texas are really crying. The drop off in the oil field has crushed the original estimates and they are looking at serious commission refunds. But sadly, this is just an example of a plaintiff attorney not understanding how the premiums are computed, and convincing some business owner that they have been “wronged”.
Author’s note on headline: While the original headline did not seem misleading to me, the new version hopefully provides more clarity.