In today’s service economy, it’s all about finding a niche. No matter the industry, if there’s a customer need not being filled, someone will find a way to address it. A niche doesn’t have to be sexy or earth-shattering. Even a small innovation can have a sizeable impact.Read More
A few weeks back, the Wall Street Journal featured a story which triggered the chilling sensations and forebode of an unseasonably cool August day in Seattle: imminent dark mornings, umbrellas, zipped-up collars, and wiper blades. Against a photo of an FBI team leaving the office of a New York state apartment developer, the piece detailed clever tactics of deception, seemingly from our past financial nightmare of mortgage loan debacles.Read More
Ever heard anyone talk trash about their insurance? Quite often, it’s because they thought their policy covered something that it didn’t. When a claim doesn’t pay what they expect, it can lead to anger and frustration. This also serves to give the insurance industry a bad rap.Read More
Causes of Loss – Special Form
Special Cause of Loss provides coverage for risks of direct physical loss unless excluded or limited.
Theft coverage is included when using the limit of insurance (LOI) rating method, but it can be excluded.
The Watercraft Exclusion modifies coverage under Special Form. It excludes watercraft damage to retaining walls that are not part of a building, bulkheads, pilings, piers, wharves, or docks.Read More
One of the most common challenges that compliance professionals face is how to justify rates for a new program or coverage to the state insurance department’s satisfaction.Read More
Elevation is commonly used by insurers to determine a property’s height in relation to sea level or floodplains to assess the need for flood insurance. However, elevation tools can also be used to determine the slope and aspect of an area.Read More