Video On Demand: Thousands of certificates of insurance (COIs) are issued every day, and again without hyperbole, most of them are issued improperly. In fact, your agency may have issued an improper certificate as recently as this morning.
What is it about certificates of insurance that can get an agency in trouble? If there were just one or two things, it would make your job a whole lot easier. But in reality, there are many different ways a COI can get you in trouble.
There are a lot of rules, statutes, and theories swirling around COIs so you have to be sure you're dotting all the "i"s and crossing all the "t"s. If you're not, go ahead and call your E&O carrier – they'll want to be at the ready. And this new abomination you are being asked to complete should truly raise concerns.
This webinar discusses the traps and dangers in COIs and extra-COI documents.
UNTANGLING THE WORKERS' COMP MESS - PART 1 OF 2
Video On Demand: Workers’ compensation is a relatively easy coverage to understand. Work compis work comp is work comp. The difficulty in work comp does not arise out of the policy but rather from the myriad statutes that surround and control how a work comp policy responds. April and June webinars combine to untangle many of these laws that cause problems.
Two key questions to be answered during in the April webinar include:
What makes an injury or disease compensable under workers’ compensation?
Who is covered by the work comp policy?
ARE YOU INSURING ALL THE RIGHT PEOPLE?
Video On Demand: Who qualifies as an insured in the commercial general liability (CGL) policy and the business auto policy (BAP)? More importantly, how should the insured be listed on the policy? You must be careful who you list as and how you list an insured. Get this wrong and there may be NO coverage (an E&O nightmare).
Only attend this session if you are interested in learning:
Who is granted insured status in the CGL and BAP;
Who you can and should extend coverage to in these forms;
Who is not and should not be included; and
The weird requests additional insureds often make.
UNTANGLING THE WORKERS' COMP MESS - PART 2 OF 2
Video On Demand: When employees travel out of state for work, real work comp coverage gaps can exist; and these gaps could leave the employer without the necessary protection they THOUGHT they purchased when they paid their work comp premiums. Extraterritoriality and reciprocity are major work comp problems most agents don't know they have. Yes, every state provides extraterritorial work comp protection, but not every state recognizes that covereage.
Some agents take Part II – Employers' Liability coverage for granted. They consider it just a "thrown in" coverage with no real benefit. But Employers' Liability protection fills major gaps between the work comp policy and the CGL. Without this important coverage, your insured could have a hefty out-of-pocket expense.
Attendees to this session learn:
What "extraterritoriality" and "reciprocity" are in relation to work comp;
How limitations in some state reciprocity laws create major gaps in work comp coverage;
How to fix these coverage gaps; and
Why employers' liability coverage is so extremely important.
CONTRACTUAL RISK TRANSFER, ADDITIONAL INSUREDS, AND THE PRIMARY & NONCONTRIBUTORY REQUIREMENTS
Video On Demand: If you deal with construction clients, you deal with contractual risk transfer, additional insureds, and primary and noncontributory problems. We discuss all these time-zapping "issues" in this webinar and answer three key questions:
What is the purpose of contractual risk transfer?
What is given to the Additional Insured?
Is the Primary and Noncontributory required necessary, ethical, or even legal?
Beyond answering these questions, the laws of equity that apply to these issues will be reviewed along with the three key equity concepts applicable to and the basis for this entire "problem."
This session leads us through:
The goals of contractual risk transfer;
How Additional Insured status should be granted (and to whom):
The laws of equity;
The contractual disrupters of equity between parties; and
The reality of the primary and noncontributory requirement.
WHEN (AND WHY) PARTIAL LOSSES BECOME TOTAL LOSSES
Webinar: Aug. 23, 2017 - 10 a.m. to 12 p.m. PDT: We do a bad job explaining the concept of "replacement cost." We tend to tell clients they will get new stuff for old junk – which is partially true; but partial truths get you sued.
Attendees in this session learn:
The coverage gaps in property policies making Ordinance or Law Endorsements necessary;
Who promulgates and who enforces local building codes;
What constitutes "major" damage;
The details of various ordinance or law endorsements; and
How to develop coverage limits for each coverage part.
BUSINESS INCOME - PART 1 OF 2
Webinar: Oct. 11, 2017 - 10 a.m. to 12 p.m. PDT: Business Income (BI) is the most undersold property coverage, maybe because it is the most misunderstood and scary. Remember, businesses exist to make money – and if there is no money coming in, the business ceases to exist.
In reality, BI is quite simple – once the basic concepts are understood. In this session, we detail:
The four KEY BI concepts;
The major BI policy provisions; and
How to calculate coinsurance and coverage amounts.
CONTRACTORS PROTECTIVE PROFESSIONAL INDEMNITY
Webinar: Nov. 15, 2017 - 10 a.m. to 11:30 a.m. PST: Coverage Part A of the Commercial General Liability (CGL) policy is limited in scope, extending coverage to claims arising out of only bodily injury (BI) and/or property damage (PD). Couple Part A's limited scope with the CGL form's absolute pollution exclusion ("f.") and expensive coverage gaps are created for most contractor risks.
Contractors' Professional and Pollution Liability is the contractor's coverage solution. Often referred to as either the Contractors Pollution and Professional Insurance, the Contractor's Protective Professional Indemnity coverage, or simply "CPPI," this multi-peril form specifically addresses and closes most of the coverage gaps created by the limited breadth of Coverage Part A combined with the pollution exclusion (it even addresses some coverage gaps in the business auto policy).
This session details this incredibly important coverage. When done you will:
Understand the coverage gaps that create the need for this coverage;
Understand how the policy works; and
Learn who needs this coverage.
BUSINESS INCOME - PART 2 OF 2
Webinar: Dec. 20, 2017 - 10 a.m. to 12 p.m. PST: Business Income (BI) is the most important property coverage available. Businesses exist to make money; without income, the business ceases to exist. BI ensures there is a flow of income until the business is once again operational.
n this webinar, attendees learn the hardest lesson surrounding BI - how to complete the business income worksheet (CP 15 15). This worksheet has frightened insurance practitioners for decades - but no more. With this information, class completers will be much better prepared to advise their clients.
This session details:
Completion of the Business Income Worksheet (CP 15 15);
The difference between "insurable" and "compensable" business income;
How to insure the additional loss of income that occurs once the business reopens; and
How to properly insure the exposure created by dependent properties (contingent business income).
IS THE ABSOLUTE POLLUTION EXCLUSION REALLY ABSOLUTE? HINT: NO!
Video On Demand: During this webinar, we tear into, or tear apart, the so-called "absolute pollution exclusion." Beyond a detailing of the exclusion and its exceptions, we: Discuss and detail some key terms and concepts found within and applicable to the "absolute" pollution exclusion; Define "pollutant"; Detail the need for a "causal connection" between the release of a pollutant and damage; and Introduce the historical purpose of the pollution exclusion.
UNDERSTANDING COMMERCIAL PROPERTY UNDERWRITING - COPE IN ALL ITS GLORY
Video On Demand: Join Big "I" VU Executive Director Chris Boggs as he instructs participants in the purpose of and methodology for gathering all necessary commercial property underwriting information. In addition, this course discusses what can be done to reduce and control losses using "COPE" data.
THE NEW WORLD OF CANNABIS INSURANCE
Video On Demand: The legal cannabis industry is growing immensely and there are now over 33,000 cannabis related businesses in the United States. Just like any other business, cannabis businesses owners need and in many cases are required by state law to maintain insurance. As an independent insurance agency, understanding cannabis insurance can increase your ability to serve this new industry. In this webinar we will cover many topics including the size of the market, challenges facing insurance agencies, how to assess cannabis risks, is writing cannabis insurance right for your practice, what coverages are available, size of premiums, and how to effectively market to cannabis industry professionals, new developments in cannabis cyber and where to go to find coverage.
IS YOUR CLAIM GOING UP IN SMOKE?
Video on Demand: Cannabis is a reality in this country. It’s a billion-dollar crop in California alone. There is coverage available in most states for cannabis in its many forms. However, collecting on a claim is another issue. How do the various States and Federal laws clash over this issue? Who has jurisdiction in courts over coverage? Who needs coverages? What coverages are available to the consumer? What the various issues are in writing a policy. How has the courts ruled on claims?