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CarFax Vehicle History Data Use in Insurance

Carfax Inc. reported that federal officials have approved its patent applications for its auto insurance underwriting and rating system based on vehicle history attributes. CarFax said it expects the patents to be issued by the U.S. Patent and Trademark Office within the next month. Insurance companies use CarFax reports in their underwriting and rating, claims prioritization, total loss valuations, and fraud investigations. CarFax’s systems that are being patented include the access to the vehicle history data and a method for insurers to follow in using that data. According to Carfax, its vehicle history database has more than 10 billion records… Read More »CarFax Vehicle History Data Use in Insurance

Laws Regarding the Recording of Phone Calls

Many businesses and other organizations record their phone calls so that they can document business transactions, train their employees, and improve customer service. It is extremely important to seek legal advice from an attorney if you are considering recording telephone calls or oral communication between parties. This article is not meant to serve as legal advice. However, we want to remind that there are federal and state laws regarding this practice. Florida, for example, is a “two-party consent” state, which requires that all parties of a conversation must give consent when one party wants to record a phone conversation. This includes the… Read More »Laws Regarding the Recording of Phone Calls

Top 10 States Vehicle Theft List

The National Insurance Crime Bureau reported 2011 is on track for another consecutive year of declining vehicle thefts, but California still dominates the top 10 list for areas highest auto theft rates. Seven of the top 10 areas were in California, mostly in the central and northern portion of the state. The report is a reflection of vehicle thefts on a per capita basis, and the authors of the report note that an area with a much smaller population and a moderate number of thefts can, and often does, have a higher theft rate than an area with a much… Read More »Top 10 States Vehicle Theft List

Customer of Size Policy

A woman suing Southwest Airlines Co. over its policy regarding overweight passengers says she’s not interested in the airline’s money. Back in spring of 2011, miss T. allegedly was told that she would have to buy a second seat to board a SW  flight, according to her website. T. alleges she was “humiliated and harassed” by a gate agent who asked for her weight and clothing size before determining that she was too big for a single seat. In her blog T. said she offered to demonstrate that she could fit in a single seat, but reportedly was denied the… Read More »Customer of Size Policy

Risk Transfer: Managing 3rd Party Relationships

Introduction: Case Scenarios – A painter’s scaffold collapses resulting in severe injury to the painter and a pedestrian. The painter had no insurance. The building owner is held liable for all losses. – A cabinet installer puts a long screw into a wall. It punctures a water pipe causing water damage. The installer’s insurance policy was not renewed. The homeowner’s insurance company sues and recovers the damages from the cabinet retailer who recommended the installer. – A small motor manufacturer, to get the business of a big new customer, agrees to sign a contract which the customer requires of all… Read More »Risk Transfer: Managing 3rd Party Relationships

CONTRACTS: TURN PAIN TO GAIN

Use contracts to effectively manage working relationships and protect your business interests. If hearing the word “contracts” makes you groan, you’re not alone. Many small business owners – particularly Specialty Trade Contractors – have told us that contracts and their impact on insurance are, to put it bluntly, a pain. But, having contracts in place with customers, subcontractors and suppliers can actually be a relief when questions pop. TOP 5  CONTRACT TIPS CHECKLIST Keep these important tips in mind before you enter into a contract: 1. ALWAYS READ A CONTRACT CAREFULLY – never skip the “fine print” because it may… Read More »CONTRACTS: TURN PAIN TO GAIN

Hard Market – Should you wait for it?

If you have active business insurance policy, do your best to keep it, and have no cancellation, especially for non-payment’ otherwise, your policy underwriter can say that future “rewrites” after midterm cancellation may be problematic. This means that another rewrite may need to go through brokerage where rates on your class most likely will be higher and forms more restrictive, probably Claims Made. Most “experts” feel we are on the cusp (

Non-Profit Management Liability (D&O / EPL / Fiduciary Liability)

In addition to the full complement of HR helpline services available to policyholders, we have been a consistent, steady market for Non-profit D&O and related coverage for over 6 years. We can provide coverage for virtually all classes of business, including nursing homes, water districts, airport authorities and social service organizations. We can work from any carrier’s application, turnaround time is about a day, and policy issuance usually happens within a day. We offer A+ A. M. Best security from Old Republic Insurance Company, defense costs outside the limits, and no emotional distress or mental anguish exclusion of any sort.… Read More »Non-Profit Management Liability (D&O / EPL / Fiduciary Liability)