Umbrella and Excess policies both provide increased limits over the underlying policy. In some instances an Umbrella policy may drop down and provide coverage where there is no coverage in place, usually subject to a Self-Insured Retention (SIR.) An Excess policy will only respond when an underlying policy responds. Examples of when you might see…
FAQs about the Consolidated Program with AmTrust
Since our announcement that we are consolidating our insurance program with AmTrust, we have received a number of common questions that I’d like to share for everyone’s benefit: Will you be sending non-renewal notices and when will they start? Yes, and the verbiage will be very clear that we are moving program partners. We will…
How Can Moving & Storage Operations Lower the Risk of Catalytic Converter Theft?
How Can Moving & Storage Operations Lower the Risk of Catalytic Converter Theft? Can this be Covered Under Inland Marine? One of our broker partners asked this question for their insured who had several catalytic converters stolen TWICE – on two separate occasions in less than 6 months! First, the coverage is not provided under…
Is Truck Rental Reimbursement Coverage Necessary in a Not-at-Fault Accident?
This is a question I hear frequently and one that doesn’t always have an obvious answer. Let’s take a look at a recent claim to highlight the nuances of this coverage. One of our Moving & Storage insureds was in a no-fault accident. They had not purchased any rental reimbursement, instead relying on the Uninsured…
Safety Incentive Programs
It’s the middle of the year and it’s an excellent time to start outlining a safety incentive program for your employees for the upcoming 2023 new year. A good program can reduce insurance costs, raise employee awareness, and build company morale. Many insurance companies will offer schedule credits to companies that have team safety incentive…
Can you Call Yourself a Defensive Driver?
The largest liability facing the moving and storage industry is obviously motor vehicle accidents. When larger commercial vehicles are involved in accidents, the bodily injury and damage to personal property is three to four times more severe than accidents that involve private passenger vehicles. A company that takes the time to hire safe drivers and…