July 25
Four New York Metro Areas Rank Among Lowest in the Nation for Vehicle Theft
It’s Getting Better! The New York State Department of Motor Vehicles (DMV) and the New York State Division of Criminal Justice Services (DCJS) announced that four New York metro areas were recently ranked among the lowest vehicle theft areas in the U.S. The National Insurance Crime Bureau’s (NICB) annual “Hot Spots” report found that in […]
Rough Patch Ahead
For property and casualty insurers, 2016 could be a tough year, according to a new report just published by S&P Global Market Intelligence, a leading provider of multi-asset class research data and insights. The firm’s 2016 U.S. P&C Insurance Market Report suggests that a combination of elevated catastrophe losses, unfavorable results in the private passenger […]
Non-Governmental Unemployment Insurance; Insurance “Gotchas”
An Ideally Insurable Risk: Unemployment Insurance? A key insurance concept is “ideally insurable risk.” No, that doesn’t mean the old fire insurance chestnut about covering pig iron under water; it refers to the characteristics of a risk that make it suitable for insurance coverage. The characteristics are: Large number of similar exposure units […]
Great Customer Service is an Advantage in Every Industry, Especially Ours
Recently, I had a routine checkup at a new doctor’s office. After running typical blood work, the physician told me one of the tests seemed off and asked to repeat it. I went back to the lab and got stuck again. I was advised that my results would be posted on the “Doctor’s Portal,” […]
Your Image, Presence, and Agency Online
Let me ask you something…when was the last time that you “Googled” your agency online? Or, while we are on the subject, when is the last time that you Googled your name, as the owner of the agency? It’s important that you understand how your audience perceives you online, and it should be no surprise […]
Uber & Insurance: How the Gig Economy Can Infuse Life Into a Legacy Industry
By Robin Smith You’re seeing it everywhere: old-school business learning new tricks. From Expedia’s acquisition of Homeaway, SAP’s buyout of Fieldglass, and the proliferation of Venmo, legacy industries are transitioning to digital platforms, offering personalized communications and incorporating sharing and gig economy aspects in their business models, too. As other industries are making this transition, […]
Agency Branding: Do You Really Know What It Is?
Agency branding…many people think they know what it is but in reality they aren’t sure. Even more importantly, many agents don’t fully understand the power and opportunity in building a brand. Just five years ago, having a better than average website was enough, but in today’s social world you really need to have a […]
Late Notice Defense Difficult to Prove
Notice Requirement Must be Clear and Unambiguous Every liability insurance policy contains a requirement that the insured report claims promptly. Each policy contains a variation on that requirement. Excess policies contain different reporting clauses than do primary policies. In Essex Insurance Company v. Village of Oak Lawn, United States District Court, N.D. Illinois 2016 WL […]
Ambiguity in Policy Voids Exclusion For “Insured vs. Insured”
Boro Park Land Co., LLC v Princeton Excess Surplus Lines Ins. Co. 2016 NY Slip Op 04684 Decided on June 15, 2016 Appellate Division, Second Department Edited by Lawrence N. Rogak A nursing home and its landlord were the insured and additional insured under a professional liability policy issued by Princeton. An employee of the […]
