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The Rough Notes Company Inc.

Personal Lines

Stumbling Block

STUMBLING BLOCK Policyholder’s denied claim loses two court proceedings due to late filing  [T]he insurance company should have focused on educating its policyholder. Policy By Bruce D. Hicks, CPCU, CLU The Court Decisions column is a popular part of Rough Notes magazine. One reason for this is that the court room is where the promises made in an insurance contract often become real. All insurance professionals can develop “what if”

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Understanding Liability and Indemnification

UNDERSTANDING LIABILITY AND INDEMNIFICATION Liability for injury or damage is up to the courts, if and how insurance responds is a different issue The CGL policy isn’t a magic blanket; it just does what the insured would want it to do in a lot of situations. By Paul Martin, CPCU People who are not a part of the insurance industry frequently misunderstand the way liability works. After a car accident,

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Home Based Businesses

HOME-BASED BUSINESSES (REVISITED) The most-recent ISO homeowners coverage forms see business-related language changes While exposures have most certainly changed in the last seven               years, … homeowners policy forms are not  designed to address exposures that come with home-based businesses. By Marc McNulty, CIC, CRM I recently had a personal lines client contact me because he planned on opening a watchmaking business and running

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Combating Inflation

COMBATING INFLATION IN PERSONAL INSURANCE CLAIMS While options to control costs are limited, these tips can help your clients     Saving a few premium dollars won’t be worth it in the long run if your clients find themselves underinsured at the time of a loss. By Marc McNulty, CIC, CRM For those of you who are new to the insurance industry, you’ve most certainly learned by now that insurance

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Avoiding Policy Language

AVOIDING POLICY LANGUAGE ASSUMPTIONS Exercise caution whenever coverage questions get into the weeds   By Marc McNulty, CIC, CRM Anyone who is new to the insurance industry will typically have several hurdles to overcome, followed by several sighs of relief afterward. This includes learning the basics of insurance, passing the needed licensing exam, learning the coverages and policy forms that are specific to the carriers you represent (which often differ

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