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The 2011 Iso Homeowners: New And Improved
THE 2011 ISO HOMEOWNERS: NEW AND IMPROVED Mary LaPorte The ISO updates to the HO policy took effect on May 1, 2011. The updates in the Homeowner coverage forms and related endor...ssions analysis. You can reach her at (269) 672-7801; e-mail: marylp@lpinsuranceco...

... name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back The 2011 Iso Homeowners: New And Improved 4/30/2013 10:41:58 PM by CompleteMarkets Editor , Mary LaPorte This content has not been rated yet. THE 2011 ISO HOMEOWNERS: NEW AND IMPROVED Mary LaPorte The ISO updates to the HO policy took effect on May 1, 2011. The updates in the Homeowner coverage forms and related endorsements reflect ISO's responsiveness to the changing needs of policyholders. These clarifications avoid ambiguity. The policy enhancements outweigh the minor reductions in coverage, and provide agents with a stronger contract to address the customer's exposures more effectively Many of the changes do not affect coverage, but clarify policy wording. Those include the definition of "insured", the deductible provision and the "perils insured against" wording. In addition, some recent court decisions influenced changes in the areas of Collapse Coverage and Water Damage. These policy provisions have added wording to communicate the intent of the coverage more clearly and to eliminate any ambiguity. Here are some other changes: Changes that Reduce Coverage • &# 160Personal Property Located ...

... site and the slogan says, An Insurance Program with a Difference. That certainly appears to be the case. The Personal Auto insurance section indicates that they insure nonstandard exposures and that their policy forms are nontraditional. So, the insured was warned. I'm not criticizing this insurer. They have the right to offer a contract that fits their underwriting standards and clientele and to price it accordingly. This example illustrates that price alone is no basis for comparison between products or companies. It's incumbent on the agent in particular, and the industry in general, to educate consumers about what their premium dollar actually pays for. Also, it's essential that agents be well versed in the coverage variations among policies — even a deluxe' policy can include language that's more restrictive than a standard' ISO form. In one HO Condo claim, water from a broken water pipe in an upstairs unit caused extensive damage to the subject unit. The deluxe' condo policy excluded water damage that originated outside the residence premises, ' defined as the unit itself. The ISO condo form, on the other hand, excluded water damage that originated outside the building, so it would have covered the loss. It pays to read those policies! Bill Wilson, CPCU, ARM, AIM, AAM is director of the Independent Insurance Agents of America (IIAA) Virtual University from which this article is reproduced, with permission. For more information, e-mail [email protected] or visit http://vu.iiaa.net/default.htm . Login or Register (for FREE) to gain access to thousands of other great articles. Need more ...

... "change is good, as long as I can do what I've always done." All Articles by CompleteMarkets Editor Comments (0 ) Good News On Taxes! This content has not been rated yet. CompleteMarkets Editor , Robert Nein 4/30/2013 10:43:12 PM GOOD NEWS ON TAXES! by Robert Nein Make no mistake. Taxes are one of the most vexing problems facing today's business owner. Of the many forms of taxation, estate taxes are considered the most.. All Articles by CompleteMarkets Editor Comments (0 ) The 2011 Iso Homeowners: New And Improved This content has not been rated yet. CompleteMarkets Editor , Mary LaPorte 4/30/2013 10:41:58 PM THE 2011 ISO HOMEOWNERS: NEW AND IMPROVED Mary LaPorte The ISO updates to the HO policy took effect on May 1, 2011. The updates in the Homeowner coverage forms and related endorse.. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... When communicating your message, don't let familiarity breed indifference.. All Articles by CompleteMarkets Editor Comments (0 ) Leadership — How Or Why? This content has not been rated yet. CompleteMarkets Editor , Michael Manes 6/17/2015 12:00:00 AM What does it take to be an effective leader? How have the principles of leadership evolved? Mike Manes, with a little help from his friends, provides multiple perspectives on the roles that leaders must play in order to win. All Articles by CompleteMarkets Editor Comments (0 ) The 2011 Iso Homeowners: New And Improved This content has not been rated yet. CompleteMarkets Editor , Mary LaPorte 4/30/2013 10:41:58 PM THE 2011 ISO HOMEOWNERS: NEW AND IMPROVED Mary LaPorte The ISO updates to the HO policy took effect on May 1, 2011. The updates in the Homeowner coverage forms and related endorse.. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... customers to come back every year? For starters, you should put. All Articles by CompleteMarkets Editor Comments (0 ) Outsourcing Public Relations And Marketing This content has not been rated yet. CompleteMarkets Editor , Henry Stimpson 4/30/2013 12:00:00 AM It's often difficult for an agency to hire an in-house PR specialist. And assigning PR responsibilities to an existing employee has its drawbacks. This document by Henry Stimpson examines the advantages and disadvantages to hiring an out-sourced PR consultant. All Articles by CompleteMarkets Editor Comments (0 ) The 2011 Iso Homeowners: New And Improved This content has not been rated yet. CompleteMarkets Editor , Mary LaPorte 4/30/2013 10:41:58 PM THE 2011 ISO HOMEOWNERS: NEW AND IMPROVED Mary LaPorte The ISO updates to the HO policy took effect on May 1, 2011. The updates in the Homeowner coverage forms and related endorse.. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... clients, perhaps one of the services the agency can provide is to ask the elderly person who else might be responsible (children, siblings, a bank, an accountant, or legal counsel) where notices might be sent. At least consider taking the time to make sure that there's no one else who might look out for this person. &# 160 However, if the person wants to remain "independent," then a periodic reminder in writing to all clients would be in order, letting them know that they're personally responsible for taking action on any notices received direct from their insurance company. This is a good practice for agencies to institute, particularly if they've been in the habit of notifying certain individuals in the past. &# 160 FACULTY RESPONSE &# 160 I think the HO has that "additional interest" (AI) endorsement you can add if the company is willing. You might add a more responsible family member as the AI, so that they get the notice too. On Auto, perhaps you could add this person as a loss payee, so they would also get a notice. As an agent, I wouldn't want to be responsible for following up with them. &# 160 FACULTY RESPONSE &# 160 One thing that always comes to mind with this type of service is the "favored client" status. Basically, the courts have held that if you provide services to one insured above the call of duty (such as premium reminders) you must do the same for all insureds. So if you don't notify all clients, an insured ...

...umer — the person or entity who pays for and uses these products and se...an be reached at Square One Consulting, 625 Weeks Street New Iberia, LA 70560,, 337-577-3885 (Cell), e-mail mike@...

Should Agencies Follow Up On Company Notices To Insureds?
SHOULD AGENCIES FOLLOW UP ON COMPANY NOTICE...embers are available for in-house training or consulting. For conta...