Thanks but No Thanks

One of the difficult parts of my job is learning when to say no to a client.  It's in my nature to want to help everyone and if I can't help them, point them in the direction where they are able to get help.  But the other day, I had a law firm call on me and they were interested in receiving a quote for their professional liability.  I started asking the usual questions: how many lawyers, any claims I need to be aware of, how much does the firm gross, etc.  Then the firm let me know that they have two other brokers looking at their renewal. 

Top 10 Most Stolen Vehicles in U.S.

According to the The National Insurance Crime Bureau, Honda's were busy in 2010...busy being jacked!  As reported in the Insurance Journal, "The National Insurance Crime Bureau examined vehicle theft data submitted by law enforcement to the National Crime Information Center (NCIC) and determined the vehicle make, model, and model year most reported stolen in 2010."

What is the Difference Between a Deductible and a SIR?

Many people that have liability insurance for their business may not even know the difference between a deductible or self insured retention.   For the most part, they serve the same purpose.  They can offer a cost savings to an insured who anticipates small and infrequent losses, and they can reduce an insurer’s reluctance to write an account with a loss frequency problem.

Why am I Paying State Taxes & Fees for my Insurance Policy?

When I am working on placing insurance on behalf of a business, I first assess which "markets" will be the best place for this risk. There are two types of insurance markets: Admitted Insurance Carriers and Non-admitted Insurance Carriers (otherwise known as Excess & Surplus lines carriers). I've done a brief outline of the two sides below.