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

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.

How We Helped a Client After Their Product Was Condemned

I am going to share with you a story about a new client that left their prior insurance broker because of a bad loss they suffered that could and should have been covered.  I am going to explain why they choose us but I want to be clear, getting a new client because they suffered … Continue reading How We Helped a Client After Their Product Was Condemned

Monday Market Update – What Will Hurricane Florence Mean to the Property Insurance Market?

Last week there were multiple named tropical systems in the Atlantic Ocean in addition to four others in the Pacific Ocean.  Florence of course generated most of the attention here in the United States and will continue to be in the news as the true destruction is sorted out. We will most likely see losses … Continue reading Monday Market Update – What Will Hurricane Florence Mean to the Property Insurance Market?

Hurricane Florence – Property Insurance Tips

Hopefully Hurricane Florence weakens and has a minimal impact on the East Coast of the United States, but if we are not so lucky I wanted to share some coverages that you might have available in your property policy that will help mitigate the financial loss. Debris Removal – often this has a sub-limit but … Continue reading Hurricane Florence – Property Insurance Tips

Addition by Subtraction – How a Risk Management Program Can be Designed to Address a Company’s Most Vital Risks

When designing an insurance program should we think about adding coverage or eliminating risk?  Most brokers think about adding coverage while clients think about how they can curtail risk. You might think these opposing approaches would get you to the same place in the end but that is not necessarily true. The problem I have … Continue reading Addition by Subtraction – How a Risk Management Program Can be Designed to Address a Company’s Most Vital Risks