Rough Notes

The importance of adding all household vehicle operators to your policies It is imperative that newly licensed drivers be promptly added to the auto policy and that they remain on the policy even if they are away at college. By Marc McNulty, CIC, CRM According to the data analytics provider Verisk, “Undisclosed drivers not listed on auto insurance policies are the leading cost of mispriced risk, accounting for an estimated $12.5 billion in annual leakage for personal auto insurers.

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Insurer can subrogate against another insurer In May 2017, an individual was shot and killed in a Shelter Island Apartments unit. The victim’s estate filed a suit against Alhambra Place. Alhambra, at the time of the tragedy, was listed as an additional insured (which included Shelter as an insured location) under coverage issued to L.A. Pacific Center (Pacific).

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS A material girls’ voided world or liar, liar house on fire In a dispute that literally took years to resolve, it testified to the accuracy of an ancient adage that “honesty is the best policy.” Suzan Taylor (Taylor) was the owner of real property located in various parts of Arkansas.

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Ghost products, ghost insurance Everything is bigger in the Lone Star State … even litigation! A Texas company, Primary Arms, LLC (Primary), found itself in a large, complex predicament. Primary is a seller and distributor of firearms and parts.

Addressing transparency between providers and agents reduces client disillusion [W]e must provide some data to consumers to justify the state of the market without giving away any trade secrets or violating federal law.

It’s more than just completing assigned tasks Leaders who embrace responsibility are better equipped to navigate complexity and adapt to change. By Scott Naugle Leadership and responsibility are two concepts that are frequently discussed in the insurance business, whether it is leading an agency, a department within the agency, or within an insurance carrier.

What London taught us about relationships, risk and the future of insurance At Lloyd’s, no one was in a hurry to “get to the deal. ” There was conversation before business. Time spent without an agenda … . By Carolyn Smith, APR, CRA, TRA Eighteen of us stepped off the plane in London expecting to learn about market structure, global capacity, and maybe a few underwriting nuances we could bring back home.

Even a dysfunctional Congress receives interesting proposals to consider At the time of this writing, … Congress has before it two pieces of legislation of interest to the insurance sector. By Kevin P. Hennosy Writing about proposed congressional legislation is always fraught with peril. One might say, it is an uninsurable risk. The dangerous nature of that endeavor is usually centered upon the fluidity of the legislative process.

Strive to become exceptional If mediocrity is tolerated, it becomes the norm. If accountability is optional, excellence becomes rare. By Roger Sitkins Walk down the cereal aisle of any grocery store and you’ll see a harsh reality of business: Shelves are crowded with options that all look almost identical. “New and improved.” “Better taste.” “Now, packed with …” The packaging changes but the promises don’t. Average is full. The insurance industry isn’t any different.

(Above) Members of the TrustPoint Insurance & Real Estate team. Kansas agency leaders leverage differences to achieve a common goal By Dave Willis, CPIA Photography by Tim Meyers After moving out of their parents’ homes in Burlington, Kansas, and starting to get situated as adults, Angela Trimble and Janet Payne were roommates. Not the Laverne and Shirley type of roommates where they did everything together. No, they had different backgrounds and ran in different circles.