Replacement Cost vs Actual Cash Value
What is the difference between Replacement Cost Value (RVC) and Actual Cash Value (AVC)? Let’s find out!
Coinsurance
The term coinsurance has a variety of meanings within the insurance industry. Here, we’ll focus on the role it plays in Commercial Property insurance, specifically on Building, Business Personal Property and Business Income coverages.
ACORD Forms 101
ACORD forms are used by all insurance professionals. Here’s a refresh on their general format and how to complete this critical piece of the coverage process.
Terrorism Risk Insurance Act (TRIA)
In the event of a large-scale terrorist attack, this act enables insurers to write coverage for risks that could otherwise render them insolvent. Let’s dive further into what it is and when it’s used.
Commercial General Liability (CGL) Policy Limits
General Liability is often referenced as if it is one coverage, however it’s actually a broad term that refers to a package of coverages and coverage limits. These coverages as designed to provide protection against lawsuits alleging bodily injury, personal injury, and property damage due to negligence.
Moratorium
Let’s dive into what it is, when it’s used, and why/how it can affect your insureds.
Six Ways COVID-19 is Changing the Insurance Industry
By now we’re all well aware of the enormous impact the pandemic is having on the U.S. society and economy. So it’s no surprise that the SME insurance market has been affected as well – let’s dive right in on the details, shall we?
InsurTech: A New Focus
These are exciting times for technology innovation in the insurance industry. Giant investments are being made and start-up tech firms focused on our industry are sprouting up every day.
Pieces of the Process
A risk goes through many stages during the coverage process, further once bound the policy is comprised of declarations, exclusions, definitions and more, so what does it all mean? Let’s take a closer look.