https://completemarkets.com/Article/article-post/2119/INSURING-CONTRACTORS-BE-CAREFUL-IT-CAN-BE-A-BIG-E-O-HEADACHE/
...d the bond limit requested was in excess of its bonding authority and suggeste...ions when the requested bonds are in excess of its bonding limits. This art...
https://completemarkets.com/Article/article-post/657/Reading-Contracts-For-Insureds-Guidelines-And-Sample-Disclaimer/
...obtain the additional $10 million excess quote for approximately $8,000 premiu...sk.
Moral #2: When reviewing contracts for insureds, use an appropriate discla...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2139/CERTIFICATES-OF-INSURANCE-BEST-PRACTICES/
... it might well have changed! Questions and Answers Several excellent questions at the conference warranted additional research: When an agent issues a certificate of insurance, is he or she legally obligated to list all applicable policies? For example, do they list the primary and all excess policies? I could not locate any specific legal precedent while researching this issue. It makes sense to list only those &# 160coverages applicable to the request for the cert. For example, when sending a certificate to a general contractor, you would probably need ... list only the Workers Compensation, Liability and Umbrella coverages, not property. I d also suggest that an agent include all applicable policies (primary and excess) unless the request for the cert asks only for limit/coverage verification up to a certain limit. When an agent issues a certificate but the excess policy excludes certain coverage (example: pollution), should the agent list the excess policy? If the certificate request is to show proof of Pollution coverage, the agent should not indicate on the cert any policies that exclude ... coverage. Listing the policies although the coverage was excluded (even with a notation) might confuse the certificate holder. If you need to issue a cancellation notice (some carriers are putting this on the agent's shoulders), should you reissue the certificate and indicate "cancelled" on it? If so, should you include the limits? I don't believe I've ever seen a certificate reissued to show that coverage has been cancelled. I suggest sending a copy of the cancellation notice or, if you're going to use the certificate, ...
https://completemarkets.com/Article/article-post/1629/MANAGING-RISK-A-GUIDE-FOR-YOUR-BUSINESS-CLIENT-PART-1-OF-4/
... reserves to see that they're not excessive and that they're removed from the ...apping only in that they both may call for the purchase of insurance-although ...
https://completemarkets.com/Article/article-post/2139/CERTIFICATES-OF-INSURANCE-BEST-PRACTICES/
... do they list the primary and all excess policies? I could not locate any spec...de you with certified copies of all Liability insurance policies in force for our insured that are relevant to yo...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/69/Finding-Markets-The-Specialty-Program-Consultant/
... . Suppose the general agency has already built a favorable relationship with a direct writing reinsurance market. This limits the consultant because the direct writer has determined the terms and conditions of the reinsurance and controls the type of company security required. This could hamper the consultant with excessively stringent reinsurance terms. An effective consultant should have access to markets that use reinsurance intermediaries as their exclusive source of production. The agent is better protected when no one company dominates the reinsurance market. With the continuing vertical integration in the reinsurance business, suppose that ... the general agent. If this is what an agent wants, they should inform the consultant at the beginning. TYPES OF PROGRAMS Consultants must have a broad understanding of the P/C business: Hospital Malpractice, Agents E&O , Private Passenger Auto Liability, Contractors Liability, Auto Default insurance, Crane Rigging Contractors, Truck insurance, Yacht insurance, Amusement Park risks, Hazardous Waste Haulers, Homeowners insurance. Consultants must be able to use agent-clients in-depth knowledge to accelerate their learning curve in all of these product lines ... Many agents recognize that their future lies in developing specialty products that they can sell to groups of insureds and their associations. A comprehensive package can go a long way toward keeping clients for the agency regardless of the underwriting cycle. CONCLUSION The services of the specialty insurance program consultant don't end with the consummation of the agency contract. The challenge comes from listening to agents describe new products that require a specialty market. Agents are beginning to recognize that together with legal and accounting services, they can purchase company marketing services. The future ...
https://completemarkets.com/Article/article-post/558/Whats-A-Liquidity-Ratio-And-Why-Should-It-Be-Important-For-An-Insurance-Agent/
...Measures the extent to which the excess of current assets over current liabilities can cover operating expenses.
Formula: Current Assets less Current Liab...on.
Dont be afraid to get a 'Check-Up' for your agency regularly. If bad thin...
https://completemarkets.com/Article/article-post/2156/E-O-LEGAL-ACTIONS-THE-AGENCY-NEMESIS/
...et. The duty to perform is far in excess of the average retail business, but h.... This will provide immediate guidance for personnel wishing to review tasks r...
https://completemarkets.com/Article/article-post/69/Finding-Markets-The-Specialty-Program-Consultant/
... could hamper the consultant with excessively stringent reinsurance terms.
An ...ting services. The future looks bright for the specialty insurance program con...
https://completemarkets.com/Article/article-post/2453/Adjusters-Say-The-Darnedest-Things/
...ly for the amount of such loss in excess of the deductible.'
So, for the insur...a claim isn’t paid even though '... liability has become reasonably clear.'
Al...