by Tower Hill Insurance | Sep 4, 2013 | Compliance, Industry News, Underwriting
Well you don’t, but the Feds do. Before I get into that, can I just say that I think there’s a competition between the government and the insurance business to see who can come up with more acronyms. So far, I think it’s a push. The Office of Foreign Assets Control...
by Tower Hill Insurance | Jul 18, 2013 | Underwriting
If you said your policy provided replacement cost coverage for all your stuff, it might not stop conversation at a cocktail party, but it would give you a warm and fuzzy feeling. After all, it certainly sounds better than actual cash value (ACV). Let’s check a few...
by Tower Hill Insurance | Jul 11, 2013 | Flood, Underwriting
When you review an Elevation Certificate and the Lowest Adjacent Grade (C.2.f on the form) is higher than the Base Flood Elevation (BFE; B.9 on the form) the probability is strong that the property address may qualify for a LOMC (Letter of Map Change). In many...
by Tower Hill Insurance | May 31, 2013 | Underwriting
Coverage B (Other Structures) is just “out there.” It’s semi-ignored like your annoying second cousin. Insureds assume everything is covered, and the HO3 policy throws some coverage at them and hopes it will all be OK. On this subject a little attention could go a...
by Tower Hill Insurance | Apr 22, 2013 | Underwriting
. . . may or may not be just as sweet. I have to sometimes wonder if the people who write insurance policies are just trying to confuse us. I bet they’re sitting back and laughing, “Wait ‘til they try and figure out this one!” Well, today we’re going to figure out...
by Tower Hill Insurance | Mar 4, 2013 | Underwriting
In the world of personal lines insurance, a residence employee is “an employee of the policyholder whose duties are related to the maintenance or use of the residence premises, including household or domestic services”. They can also “perform similar duties elsewhere...
