ISO has filed a new Homeowners program revision effective in most states in March 2022. Here is a link to an article detailing the changes and the filing designations if you want to access them on NAIC’s SERFF system.
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“Passion. Creativity. Tenacity. These are all traits exhibited by Plaintiff’s counsel in their opposition to Defendant Westchester Surplus Lines Insurance Company’s motion for judgment on the pleadings in this putative class action lawsuit for damages a restaurant allegedly sustained because of the COVID-19 pandemic.”
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An insurer makes a unilateral change in policy coverage, adding a named insured, based on “publicly available” information. Is this legal or appropriate? What about erroneous “public” information (aka “big data”) the insurer uses for coverage or rating purposes without confirmation by the insured, e.g., household residents, dwelling square footage, incorrect credit information, etc.
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If you’re an insurance professional, do you ever notice insurance advertisements that are factually incorrect, especially with regard to coverage under a particular insurance policy? Recently, I was compelled to write at least my third article on this subject. Insurers, please involve your claims departments in vetting your advertisements.
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Are you increasingly encountering online digital certificate of insurance verification or tracking systems? If so, are you aware of the potential liability issues involved in the use of these systems? This article identifies things to be wary of, especially if the vendor wants YOU to fund the system.
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An auto insurer has advertised that “You get the SAME COVERAGE, often for less” and “SAME COVERAGE, Better Value.” Is this effectively saying that the only difference between their policy and others is price? Is that true? If not, is this false or misleading advertising?
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Yet another online insurance quoting web site says that it makes an “apples to apples” comparison of insurance policies to provide the “same” or “exact” coverage for hundreds of dollars less. Is this claim an unfair trade practice or just bloviated puffery?
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If your car is stolen and not recovered for months or longer, your auto policy likely pays for the ACV of your vehicle. However, if the thief commits a crime and your auto is confiscated for the months or longer required to try the case, your loss is excluded. Property policies have similar “government action” exclusions. Is it time for a change?
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BONUS! Purchasers of this book get a free PDF download of my book “QuoteNotes: The Ultimate Quotational Reference System and Authoring Tool for Professional Speakers and Writers” endorsed by Zig Ziglar and Brian Tracy. This is an indexed and cross-referenced compilation of my 1,500 favorite quotes and includes a section on how to use quotations in your speaking and writing.
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