CoverBizz’s Post

Never blindly sign anything........ I shouldn't need to say this. When applying for insurance your signature on an application is your agreement that all the information is correct. If your broker or agent lied and you sign it, its the same as you lying. This could result in cancellation, additional premium, or denial of a claim when you need the coverage most. Before you sign anything verify the information is correct or it could hurt your #business greatly in the long run. #insurance #mississippi #gulfcoast

Big thanks to Flaxman Partners Ltd for another great webinar - This time focusing on The Insurance Act 2015 TIA15 requires the Insured to disclose every material circumstance which the insured knows or ought to know OR sufficient information to put a prudent insurer on notice to make further enquiries for the purpose of revealing those material circumstances. BUT... What is a material circumstance? 🤷♂️ It can be said that it is information that allows a prudent underwriter to understand what it is that an Insured does. So, what is "Fair Presentation"? 💻 What does the Insured want to insure? 🩺 A clear and concise description of the business and it’s activities 💰 Full disclosure of any Director’s bankruptcy, CCJs, insolvencies etc. 🛄 Full history of claims 🤕 Full details of any losses, accidents or events that have occurred for which no claims have been made "Every material circumstance which the Insured knows or ought to know" - Brokers need to assist their clients at this stage to ensure everything is covered at inception. 🔑 The key takeaway from this conversation was that there seems to be an increasing reliance on insureds to provide material circumstances, but no educational pieces to advise what exactly this means. 🛠️ The fix? More onus on brokers and insurers to encourage open dialogue between insured, insurer and broker to increase understanding. #Insurance #InsuranceAct #ClaimsHandler #BusinessInsurance #Insurer #Broker

GAP Insurance   GAP has been brought to the fore again with some insurer’s withdrawing their products at the request of the FCA.   Consequently, the press has been deluged with conjecture and comment, much of which is ill-informed and misleading because GAP can still be provided by brokers.   Fortunately, Nice1 is still able to offer it’s GAP products to brokers and business is continuing. Hedron Network Hedron Connect Coversure PIB Insurance Brokers Peter Robinson Konsileo #gapcover #gapinsurance #gapselling #brokers #broker

The Tradeshield policy covers the loss of value due to accident damage at the point of sale when you want to sell or trade- in your vehicle. In other words, a Tradeshield policy guarantees you the book value of your vehicle even if it is in an accident. Contact Mariana Lombard: E: mariana@opulentia.co.za T: 051 444 0880 #insurance #insurancebroker #insurancepolicy #tradeshield #Opulentia

Cover Your Assets!

❓One of the most common issues brought to light by insureds is, "Why is my coverage so high on my dwelling?". The answer is simple but hard to grasp. Insurance companies are changing to coverages based on today's market for materials and labor. In the event you have a loss, the insurance company is ensuring that the home is covered to replace the loss in today's market.❓ We are here to answer any questions! Just give us a call at 985-956-7283 or email us at info@depaulains.com! #depaulainsurancegroup #questions #insurance

🌟 Client Feedback🌟 ‘Oakleafe were a huge help to us over a 2-year period dealing with an escape of water claim and nine months out of our home. It really helped reduce the stress involved, knowing that experts were handling things for us. David and Scott managed communications with the insurer and tradesmen and successfully navigated a claim to the financial ombudsman for us. David, in particular, was a calm voice in a very stressful time, always available. Highly recommended!’ – Neil MacEwen Thank you for your kind words! 🙏 At Oakleafe Claims, we’re here to guide you every step of the way, no matter how long the journey takes. We understand how challenging and stressful dealing with insurance claims can be, and our team is committed to making the process as smooth as possible. Let Oakleafe’s experts be your trusted partner if you're facing a complicated claim. #CustomerFeedback #InsuranceExperts #ClaimsManagement #EscapeOfWater #OakleafeClaims

Agents and brokers tryin' to secure coverage for their clients...... 😤😖😯 Carriers tryin' to minimize exposure and return to underwriting profit.....😬 Consumers wonderin' what the heck is goin' on. 😫 Something's gotta change. 🙏 #hardmarket #insurance #underwriting #innovation #insurtech

Protect what matters most! Whether it's a cherished heirloom or a dazzling piece of jewelry, safeguard your treasures by carrying a personal article floater or scheduling them on your property policy. Don't let the sentimental or monetary value of your valuables go unprotected. 💍 #ProtectWhatYouLove #InsuranceTips #jewelryinsurance #insurance #insuranceagent #yourlocalagent #insurancebroker

Insurance professionals should consider the challenges of the hard market and how it could contribute to loss of additional talent in the industry through burnout. Especially, where the industry already faces a looming talent drain, with projections of 400,000 workers leaving by 2026 according to US Bureau of Labor Statistics. Attracting new talent now is crucial to avoid shortages. Businesses need to diversify talent acquisition and invest in the right technology to maximize efficiency, ease of doing business and speed of service. Drawing talent from the tech industry, amidst widespread layoffs, could be a strategic solution to these challenges. Ultimately, the industry as a whole has its work cut out for it, but there are those of us who are ready to roll up our sleeves and implement solutions to complex problems. Although it is also important to find ways to laugh, as it is the best form of stress relief. Check out this video from Curtis Goldsborough for a good chuckle. If you don’t get it, you probably don’t work in property and casualty insurance. #insurance #hardmarket #talent #hiring #insuretech