July 20th, 2016

By Paul J. Rippy

You have heard the horror stories from your co-workers.  An insured calls in or leaves a message stating, “Hi there!  This is Will Rogers from Tall Tales Helicopter Charters.  I was just heading out the door and wanted to confirm my son’s pet gecko, Petals, as well as my wife’s $3500 unlicensed four wheeler is covered by our commercial policy under Business Personal Property.

Is My Wife or Uncle Herbert or Aunt Gertie Allowed To Drive My Company Car?

July 1st, 2016

By Paul J. Rippy

I was recently asked if the spouses of insured employees would be allowed to operate a company vehicle.  The individual making the request thought permission was granted because the insured’s policy has a symbol 1 for liability.  After taking a moment where I reminded myself that a jump from a two story building would really hurt, I explained the insured needed a Drive Other Car Coverage – Broadened Coverage for Named Individuals endorsement [Accord Form CA 9910 1013].

Drive Other Car Coverage or DOC is an endorsement designed to provide non owned auto coverage under a commercial auto policy.

Should I Go or Should I Stay?

June 30th, 2016

The insurance industry is cyclical in nature based on carriers loss and profitability results.   Both hard and soft markets are considered a normal part of the business cycle of insurance and typically run in 8 – 10 year cycles.  Several years of quiet tropics have resulted in a soft market cycle more prevalent in coastal states resulting in:

Relaxed underwriting criteria
Increased carrier capacity
Increased competition and additional market options
Reduced pricing

As an agent, seeking the best coverage options for your client while at the same time retaining good business can be challenging as more markets enter the coastal states.