View the video here on your mobile device. Buildings even a few years old may be affected by new building code bylaws. Generally, there are three common exposures. Increases in cost of construction is the most common exposure considered when discussing bylaws. There are two other exposures often overlooked: Value of undamaged portion of building and [...]
View the video here on your mobile device. You can sell your client the best building, stock and equipment coverage. You can sell valuable papers, boiler and machinery, electronic data processing, liability, crime coverages BUT if you do not sell adequate limits of business interruption insurance your client will be bankrupt before resuming operations. Expenses [...]
View the video here on your mobile device. In this video, Todd discusses accommodation business. We all know not all accounts are perfect in every way. Sometimes, brokers must ask underwriters for favours to place these less than the best accounts. Underwriters want to help. Underwriters, however, must guard against adverse selection. Brokers must ensure [...]
View the video here on your mobile device. In this video, Todd discusses the importance of keeping submissions well organized. Underwriters are busy. Provide information is a consistent, logical and legible form. With word processing today, developing a template for commercial submissions is easy. When you are able to deliver submissions providing information in the [...]
View the video here on your mobile device. In this video, Todd explains why using premium adjustments makes good sense. Most commercial property policies and business interruption wordings provide for premium adjustment after expiration. With stock values always changing and business interruption limits always based on estimates, using premium adjustments makes good sense. Let [...]
View the video here on your mobile device. In this video, Todd explains the importance of gathering complete information. Several studies have shown the number one time waster in brokerages is incomplete submissions. Gathering all needed information in one meeting with prospects is challenging. Going back, calling back over and over again not only [...]
View the video here on your mobile device. How Much? When competing on commercial accounts, using existing values on client’s policies form the basis of many proposals. Clients may ask for your opinion on insured values. First, do not repeat mistakes made on previous policies. Second, resist the urge to provide advice on property values. [...]
View the video here on your mobile device. Managing risks is often a function of available resources. Policy premiums must be managed to ensure proper use of this resource. Deductibles are an effective method to manage policy premiums. Who needs $100 deductibles on glass, but only purchase small limits of liability coverage? Prioritize. Ensure your [...]
View the video here on your mobile device. Business Description Commercial policies generally describe businesses insured on policies. Accurate descriptions of business are critical to ensure certain coverages. Definition of stock includes merchandise usual to insured’s business. Only that merchandise usual to described business is covered. Are video rentals usual to convenience stores? Are coffee [...]
View the video here on your mobile device. When discussing insuring commercial businesses make sure you understand how Building, Stock and Equipment are defined. You need to know where items are insured on commercial policies so adequate limits are purchased for each. Also, to provide competitive premiums, you want to ensure as much value as [...]
View the video here on your mobile device. You, as an insurance professional, are often asked to provide your opinion on how much liability insurance your client should purchase. NEVER give your clients a number. You have no idea who your clients will negligently injure. They could injure an NHL star, a plastic surgeon. Your [...]
View the video here on your mobile device. Most property insurance policies contain descriptions of how claims will be settled. Determination of your client’s interest in lost or damaged property will be a factor considered. Always ensure clients fully disclose any property they share ownership with someone else. Snow blowers, riding lawnmowers, farm machinery or [...]
View the video here on your mobile device. We are all familiar with the exclusion on many personal lines and commercial policies dealing with damage caused by birds, rodents, insects and vermin. OK, birds, rodents and insects we are all terms we are familiar with. But, what the heck is a vermin? Webster’s defines Vermin [...]
View the video here on your mobile device. We all know that most homeowner’s policies contain an important coverage called Additional Living Expense. Generally, the amount of coverage in this area is 20 percent of the amount of insurance on the Dwelling. This percentage has been the same for years and years—even though the construction [...]
View the video here on your mobile device. From more than 2,000 ideas submitted across the nation, Aviva Canada Inc. announced January 25th the eight winning entries for the first ever Aviva Community Fund – a unique competition designed to lead, empower and support positive change in communities across the country. Launched in October 2009, [...]
