Careless Mistakes by Your Broker Can Lead to Uninsured Losses

Last week I reviewed a prospect’s insurance policies and was shocked by the carelessness in which these policies were put together. When I took my first look at the policies to get an overview of what the policies looked like I was so surprised that I had to email the prospect and ask them if … Continue reading Careless Mistakes by Your Broker Can Lead to Uninsured Losses

Insuring Your Product at Selling Price

If you have a property loss, submit your claim to the insurance company and they only reimburse you for the cost to reproduce your merchandise or product would you be mad? Would you expect to be reimbursed at the selling price instead? How would this impact your revenue and cash flow? The standard property insurance … Continue reading Insuring Your Product at Selling Price

Insurance Policy Canceled? How Much Money You Get Back Isn’t Always Clear

Like all things with insurance there is no definitive answer about how much money you will get back when an insurance policy is cancelled. There are things called short-rate, pro-rata, and minimum earned premium that can all impact how much money you get back if your insurance policies are cancelled.

Four Common Business Income Coverage Gaps

According to the Allianz Risk Barometer, a survey of businesses and what they feel are their biggest risks, the top three risks that companies face in 2019 are all easily insurable. Unfortunately, after reviewing thousands of policies I often find that these risks are either not adequately covered or, even worse, not covered at all. … Continue reading Four Common Business Income Coverage Gaps

Coinsurance – Don’t Assume You Know What it Means

In insurance words mean different things in different policies, it’s probably why most people think insurance is complicated and cumbersome. Coinsurance is one of those words and it means something much different in a property policy then it does in your health insurance or D&O policy. Find out how it can reduce your claim payment in the property policy.