A neighbor had an outgoing check stolen from her mailbox, “washed,” and cashed for $5,000. Her bank denies any responsibility for the loss. The neighbor was telling the story on social media and generating dozens of responses but no one mentioned insurance.
Read MoreA homeowners insurer appears to be attempting to exclude coverage for e-bikes in their policy form. However, the way they’ve worded the definition of “E-bike” implies that they are excluding much more than that, presumably unintentionally.
Read MoreAn insurer denies a homeowners claim for a stolen e-bike but offers to pay the claim as an “agency accommodation.” If so, is it legal or ethical to pay such claims out of claim reserves?
Read MoreMany homeowners have lost their homes or been financially crippled, not because of an obvious exclusion in their HO policies, but because of three words in a definition referenced from an insuring agreement. If you write homeowners insurance, right now I guarantee you have insureds who may have no coverage on their homes.
Read MoreHow do you know if a form is pure ISO or not? How do you know how good or bad a form is for your customer? This article addresses one example and references additional articles so you can dig as deep as you like on the subject. Your E&O carrier will appreciate it.
Read MoreThe insured sold her $29,000 ring…or so she thought. When she attempted to deposit the cashiers check, she learned that it was forged and the forger was long gone. When she reported the claim to her insurer, it was denied. The adjuster said this was voluntary parting, not theft.
Read MoreYesterday, a 7-year-old girl drowned in a pool that a homeowner reportedly rented, through Swimply, to a group that allegedly included about 15 children. I blogged about Swimply a couple of years ago when they appeared to not offer any liability coverage for renters. They apparently currently include $1,000,000 of coverage…but how much is the life of a 7-year-old child worth?
Read MoreThis week I’m presenting, as part of a conference panel, a session on underinsurance of residential and commercial properties, with a focus on pre-loss valuation as it impacts underwriting and policy limits. What has been your experience in this area? Is underinsurance as widespread as it appears to be? Are there many instances of OVERinsurance? Inquiring minds want to know.
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