FRAUDBUSTERS: AUTO ARSON FRAUD INDICATORS AND INVESTIGATIVE HINTS When a claim report for an automobile fire is made, it's important to treat the claim as legitimate to avoid offending good cu...

COLLECTIONS The purpose of a collection system is to collect money owed to the agency without alienating the insured. In this section, we will answer the following questions: Who s...

Distinguish between the terms “non-compete” and “non-piracy.”

In its basic terms, a Non-Compete clause protects the agency against a former employee taking accounts that they produced or for which they were responsible while an agency employee. A Non-Piracy clause protects the agency from a former employee taking any agency accounts, whether or not they were responsible for producing or servicing them.

Writing EPL insurance on an occurrence basis has its advantages. For example, under claims-made policies, the limit of Liability may be more prone to exhaustion. Because a claims-made policy may cover prior acts, the limit of Liability might be spread over many years. It may be necessary to increase the limit beyond what might be considered sufficient under an occurrence policy. Another drawback of claims-made coverage is that as soon as the policy is canceled or expires, coverage ceases.

ISO'S EMPLOYMENT-RELATED PRACTICES LIABILITY POLICY by Gary Griffin According to The Risk Management Letter, volume 18, issue 8, Insurance Services Offices' (ISO) new Employment-Related Prac...

PAYROLL DEDUCTION EMPLOYEE BENEFITS: MODULEV-B THE COVERAGE Payroll deduction employee benefits can involve a number of coverage products ranging from Term, Whole...

TERM INSURANCE: MODULE V-D THE COVERAGE Term Life insurance is the purest form of Life insurance-it provides only for death protection with no cash values or inte...

So what are 'incurred but not reported losses,' and what do they mean to your agency? The key to a credible analysis of IBNR is to gather as much data as possible that’s unique to the insurance program. Al Rhodes shows you how to analyze your IBNR in this document.