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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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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After a brief absence while finishing my new book, I’m back with two new blog posts, one about vermin exclusions and the other about certificates of insurance. In addition, I post some information about ordering my new book “Why Insurance Doesn’t Cover the COVID-19 Pandemic” at a discounted price.
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THE Definitive and Conclusive Analysis of Why Insurance Doesn’t Cover Pandemics. is now available on presale at Amazon.com This book by one of the industry’s foremost P&C insurance coverage experts, author of “When Words Collide: Resolving Insurance Coverage and Claims Disputes,” explains why potentially trillions of dollars of COVID-19 business interruption losses should not, can not, and are not covered by insurance.
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Do you advocate for customers at claim time? If not, you are likely missing out on a golden opportunity to improve retention and gain referrals of new business. Smart and competent agents advocate for their customers when a claim has been improperly denied and there is an inexpensive tool available to enhance their success.
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I have blogged before about the danger (to customers and E&O policies) of agents who attempt to perform services they’re not qualified to provide and/or hold themselves out as having skills greater than that which they actually possess. Agency consultant Chris Burand kicks it up a notch….
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There are currently proposals to create a Pandemic Risk Insurance Act (PRIA) comparable to or as a part of the existing Terrorism Risk Insurance Act (TRIA). This article explores some of the issues such as whether a federal backstop program is feasible or should be optional or mandatory,
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Many insurers are broadening personal and commercial lines policy coverages as a goodwill measure in the wake of the COVID-19 pandemic or such broadenings or relaxations of policy conditions are being mandated by regulators. I believe there is a right way and a wrong way to do this, even if the right way isn’t the easy way.
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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.
To get BOTH books at a discounted price, click the book cover or CLICK HERE.