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Blogs – Insurance Journal

Why CIC Offers A 3-Year Policy
The knowledge each of your business clients have of insurance costs and premium calculations falls along a spectrum from unsophisticated to savvy. For most, it’s a budgeted line item required for risk mitigation, but the inability to predict rate changes …

POSTED NOVEMBER 20, 2019 4:28 PM
Why Carrier Expertise is Essential for Your HNW Clients
When asked how to determine the needs of a high net worth client, we describe their coverage requirements as complex. The question is, how does an agent identify those complexities and how can your carrier assist in that process? In …

POSTED NOVEMBER 14, 2019 9:59 PM
Fix the Broken Healthcare System
It’s November and while I have many reasons to be full of joy this time of year, there are still two events that reduce my joy. In fact, one of them makes me downright upset. The first cannot be helped. …

POSTED NOVEMBER 06, 2019 1:00 PM
The Lowdown: Cannabis 101 in 300 Minutes or Less
On October 17th, the Insurance Journal hosted a virtual, 6 hour, live summit on insuring the cannabis industry. With 2,300 pre-registrants, an additional 200 joined in as the day progressed. These viewers represented over 1,230 companies, 41 countries and 50 …

POSTED NOVEMBER 05, 2019 5:45 PM
Covering Cannabis Risks on a BOP
Back in June 2018, AAIS filed its first CannaBOP policy to provide admitted markets a BOP that would cover the unique risks associated with cannabis businesses. While the admitted market has yet to fully embrace the cannabis businesses, this policy …

POSTED OCTOBER 31, 2019 7:29 PM
Kincade, Tick and Getty Fires Currently Threaten Nearly 1,000 Homes with a Reconstruction Cost Value of $535M
As of October 29, there were at least 18 fires burning in California, ranging in size from a few acres to more than 74,000 acres as in the case of the Kincade Fire in Sonoma County. This is in addition …

POSTED OCTOBER 31, 2019 3:51 PM
A Quick Introduction to Occurrence vs. Claims-Made Forms
We received this question recently. I have inherited an account where the primary CGL was written on an occurrence form and the excess liability was written on a claims-made form. Can you help explain why this isn’t a great situation? …

POSTED OCTOBER 30, 2019 12:00 PM
Some States Jumping the Gun on Predictive Modeling Review
The National Association of Insurance Commissioners has started the process to produce a review guide for predictive models that could guide how state insurance departments oversee insurers use of so-called “big data.” But reports from the field suggest that, even …

POSTED OCTOBER 27, 2019 10:08 PM
CBD Coverage Confusion
I had a chance to read an exclusionary endorsement this week that was really interesting. Let me set the stage with a question. Is there coverage for BI or PD related to the sale of CBD infused edible products? Since …

POSTED OCTOBER 23, 2019 2:11 PM
Why Didn’t We End It at 4:20? A Recap of the Insuring Cannabis Virtual Summit
I was skeptical when our CEO suggested it. “We should have an online conference about cannabis insurance,” he said. This was on the heels of an extremely popular Insuring Cannabis newsletter launch earlier this year. The reason for my reluctance? …

POSTED OCTOBER 21, 2019 6:00 PM
A Hint of Light in the Public Adjusting World
I recently read an article on Claims Journal about licensing for public adjusters. Here it is. Public Adjusters Winning Broad Support for Licensing as Carriers Fret About Inflated Claims Let me quote from a paragraph that was surprising to me. …

POSTED OCTOBER 16, 2019 3:21 PM
State of the Cyber Marketplace
October is Cyber Awareness Month, which offers a great opportunity to reach out to your clients and prospects to discuss risk profiles and cyber coverage. The following interview with Steve Ventre, Senior Vice President, Management Liability & Surety, at The …

POSTED OCTOBER 11, 2019 2:11 PM
Keep Learning
I have used a phrase in my email signature for the last several years. Keep learning. It’s central to the way I live. That’s why I try to read at least 15 minutes every day. That’s why I started working …

POSTED OCTOBER 09, 2019 12:00 PM
Why Your Agency Should Re-Examine the Hard Sell
This post is part of a series sponsored by ITC (Insurance Technologies Corporation). Floppy discs. VCRs. Cell phones the size of bricks. Once, these devices were cutting edge technologies and part of our everyday lives. Today, they are nostalgic and …

POSTED OCTOBER 01, 2019 7:14 PM
Common Insurance Questions (and Answers)
Insurance is complicated, and there are many misconceptions about coverage that could leave policyholders uninsured or underinsured. You offer great value as the best resource to explain the benefits, restrictions and exclusions of policies to your clients – because you …

POSTED SEPTEMBER 30, 2019 8:17 PM
1 Simple Step to Lose Customers if That’s What You Want
There’s something wrong with the insurance buying process. That’s not really accurate. There’s a lot wrong with the insurance buying process. Specifically, the process of getting personal auto insurance is broken. I’ve been helping a friend with their insurance buying. …

POSTED SEPTEMBER 25, 2019 12:00 PM
The Lowdown: Reimagining Research to Recognize Emerging Insurance Industry Trends
The Society of Insurance Research (SIR) will hold their 49th Annual Conference on October 20th – 22nd at the Sheraton Charlotte Hotel in Charlotte, NC and I am thrilled to be attending. The theme for this year’s event is “Reimagining …

POSTED SEPTEMBER 19, 2019 7:07 PM
5 Podcasts on My Playlist
Since school is back in, I wanted to take some time and space and dedicate it to one of my favorite (free) ways to keep learning; the podcast. If you don’t know what a podcast is, it’s a lot like …

POSTED SEPTEMBER 18, 2019 12:00 PM
I remember that day 18 years ago
It’s been 18 years. 18 years since another layer of innocence was stripped away from our collective consciousness. I wanted to write about going back to school this week, but I feel compelled to remember a day that is seared …

POSTED SEPTEMBER 11, 2019 12:00 PM
Cyber Coverage Confusion
I had the opportunity recently to read two cyber liability policies and they honestly made my head spin a little. There were coverages that I hadn’t thought about and restrictions that didn’t make sense (at least for a while). The …

POSTED SEPTEMBER 05, 2019 4:27 PM
When Insurance Companies Fail at the Promise
I read an article last week about the intersection of gig work, an innocent injured party, insurance, and big business. Let me summarize the best I can. A driver is in traffic and is suddenly hit by another driver, who …

POSTED AUGUST 28, 2019 12:00 PM
The Lowdown: Employer Risk in California and Beyond
Newly released this week on Research & Trends, “Risky Business – Employment Practice Litigation on the Rise” offers insights into the many predicaments your business prospects and clients could find themselves in as employers in an increasingly litigious environment. As …

POSTED AUGUST 21, 2019 3:58 PM
We Need Your Voice
I love being in the insurance business. We get to be a part of every part of life around the world. We also get to play a part in every emerging risk and trend as they come to the fore …

POSTED AUGUST 21, 2019 12:00 PM
4 Facts that the Number of Open Michael Claims Won’t Tell You
Much is being made of a recent call by Florida Insurance Commissioner, David Altmaier, for insurance companies to “redouble efforts to resolve all open claims…” related to Hurricane Michael. Here’s the story in Insurance Journal. He’s right. These claims need …

POSTED AUGUST 14, 2019 12:00 PM
Ridgecrest Earthquakes Shake Up Californians, but How Bad Could it Be?
This post is part of a series sponsored by CoreLogic. Earthquake risk in California is no secret. For years scientists have been warning the state is overdue for a large damaging event. Nearly 30 years ago, the 1989 Loma Prieta …

POSTED AUGUST 08, 2019 7:00 AM

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