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...siness Auto), D&O Liability, Umbrella & Excess Liability, Employment P...e insurer. DIRECTORS & OFFICERS LIABILITY Nonprofit and for-profit corpora...

..._____________   Personal Umbrellas ______________   Farmowners...uake ______________   Misc. Liability ______________   Misc. P...

...reas, primarily in Liability and Umbrella/Excess Liability policies. You must ...er: This determines when a specific Liability policy covers a claim. Occu...

... the person executing the certificate is licensed in your state. If you have clients who do business in another state, the person signing the certificate must be licensed there. In summary, develop an agency procedure involving the issuance of certificates and educate your staff on this important procedure. Curtis Pearsall, CPCU, AIAF, ARM, CPIA, is president of Pearsall Associates, Inc. (Whitesboro, NY), a risk-management consulting firm that specializes in helping agents protect themselves against E&O claims. To contact him, call ... 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 to 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 ... 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 ...

...mium finance company, E&O or Umbrella/Excess carrier refusals? Unknown. (Because t...ure loss ratios of 283% for General Liability and 973% for Auto Liability. Has there been any negativ...

...kers Compensation, Liability and Umbrella coverages, not property. I d also su...de you with certified copies of all Liability insurance policies in force for ...

...orkers Compensation, Marine, and Umbrella Liability. The program is admitted i...effort. And, unlike the wholesale or Excess & Surplus Lines facilities, PA...

... that you aren't writing. At renewal you should review with the client their exposures to loss and their need for such additional coverages as Umbrella or Excess Liability, Employment Practices Liability, Health insurance, Key Person Life, Long-Term Disability, Long-Term Care, etc. An important fact to remember is that the more policies you write for a client, the longer you will retain that account. Also, an agency's hit ratio is far higher when making proposals to an existing customer, rather than to an unknown prospect. Jack Fries can ... develop those accounts, is like fishing for minnows from the back of a whale. Review all accounts to determine the lines of business that you aren't writing. At renewal you should review with the client their exposures to loss and their need for such additional coverages as Umbrella or Excess Liability, Employment Practices Liability, Health insurance, Key Person Life, Long-Term Disability, Long-Term Care, etc. An important fact to remember is that the more policies you write for a client, the longer you will retain that account. Also, ... agency's hit ratio is far higher when making proposals to an existing customer, rather than to an unknown prospect. Jack Fries can be reached at Fries & Fries Consulting, P. O. Box 66, Alexandria, KY 41001, phone (859) 441-4528, fax (800) 887-5874, e-mail [email protected] ,Web site www.jackfries.com . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? ...

...for such additional coverages as Umbrella or Excess Liability, Employment Practices Liability, Health insurance, Key Person Life,...

... do a commendable job with their limited resources. Your agency can't just pass off its due-diligence responsibility to the regulatory agency. Your clients view you as their primary information source and expect you to inform them of developments that might affect them. Communication with clients is more important than ever amid the company mergers, acquisitions, and realignments, and the expected regulatory changes. For example, although the causes of an insolvency might evolve over time, it could be triggered by a sudden event — such as a catastrophe loss, an unexpected ... as to avoid or minimize an E&O claim. Remember the old saying: An ounce of prevention is worth a pound of cure. Occurrence/claims made, triggers, retroactive dates, and extended reporting considerations are other problem areas, primarily in Liability and Umbrella/Excess Liability policies. You must understand these areas to prevent coverage gaps and to be able to explain them to the client, who then can make an informed decision. In general, when a policy that has been on an occurrence basis continuously is renewed ... agency advocate. There are fewer exposures when you go from a hard market to a soft market than when going from a soft market to a hard one. When the market hardens, standard carriers become more selective about what business they write and under what terms. Excess & Surplus Lines (E &S ) carriers increase their writings considerably. When you need to move a standard policy into an E&S market, you must consider a number of due diligence areas, such as: Policy coverage and definitions Restrictive endorsements Occurrence ...