FYI…
Taking a little unplanned vacation from blogging or at least a series of mini vacations for the next couple of months.
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Com•men•tar•y … an expression of opinions or offering of explanations
Just Because It’s Not Covered Doesn’t Mean It’s Not Covered…Revisited Again
Sometimes an adjuster will deny a claim, citing a policy provision that clearly excludes coverage for the claim. But that doesn’t necessarily mean the claim isn’t covered. It’s possible that the claim is covered elsewhere in the policy. For example….
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Torture Numbers and They’ll Confess to Anything
I just read an article that referenced a ‘study’ that said that only 11% of ‘people’ find insurance agents and brokers to be trustworthy. I’m reminded of a couple of quotations: “Torture numbers and they’ll confess to anything” and “The Devil can quote scripture to suit his purpose.” That’s why I don’t put a lot of stock into articles and ‘studies’ that appear to be solutions (or conclusions) in search of problems.
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Just Because It’s Not Covered Doesn’t Mean It’s Not Covered…Revisited
What happens when a claim is denied based on an exclusion in an open perils policy that doesn’t exist in a named perils policy that includes a named peril that would appear to cover the loss? In other words, is it possible that an ‘inferior’ named perils policy provides more coverage than an open perils policy
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Just Because It’s Not Covered Doesn’t Mean It’s Not Covered
What happens when a claim is denied based on an exclusion in an open perils policy that doesn’t exist in a named perils policy that includes a named peril that would appear to cover the loss? In other words, is it possible that an ‘inferior’ named perils policy provides more coverage than an open perils policy?
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How to Explain Coinsurance to Clients
Although most commercial property policies provide examples of how coinsurance works, WHY policies have such a clause is a mystery to most insureds…and many agents. So, let’s examine the principle behind coinsurance in a way that can be easily explained to business owners or new hires….
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Insurance Is NOT a Commodity…Real Life Example #8,215: Auto Business Exclusions
With very few exceptions. the ISO Personal Auto Policy covers most business use of private passenger autos, pickups, vans, and trailers. However, there are non-ISO policies that do not. Caveat emptor. Auto insurance is NOT a commodity.
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Diminished Value Claims…Another Example
I have written extensively about why it’s a good idea to buy the loss damage waiver when renting a car. Here is another good example of why that is a wise decision…a $9,000+ diminished value claim.
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Top 5 Insurance and Legal Blog for 2017
My New Ebook
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