Property and Casualty Insurance in North Texas
Your certificates of insurance have just had a facelift. Thanks to a new law passed in the Texas Legislature, the way companies communicate insurance coverages through the use of ACORD certificates has fundamentally changed. The hope is that coverage miscommunications and misleading information will be a thing of the past. Senate Bill 425 went into Continue Reading …
Do I need special coverage for my GPS, DVD player and other electronic equipment in my vehicle? This is a great question, and one that our customers ask frequently. Americans have developed a love affair with their electronic toys. TVs, DVD players, GPS devices, satellite radio receivers, VCRs, CD players, computers, tape decks, and stereos Continue Reading …
A certificate of insurance is an informational document issued by or on behalf of an insurance company. The certificate indicates that an insurance policy exists of a certain type and limits. Certificates are simply snapshots of basic policy coverages and limits at the time of issuance of the certificate. Certificates are not intended to modify Continue Reading …
Why is your agency declining to issue a certificate of insurance that provides for notice of cancellation to the certificate holder? In September 2009, ACORD revised the ACORD 25 Certificate of Insurance form. One of the major changes was the removal of the cancellation notice provision. We are unable to issue an older edition of Continue Reading …
You should have an amount of insurance that is sufficient to either rebuild your building (“replacement cost coverage”) or purchase a similar building at another location suitable for your business (“actual cash value coverage”), in the event it is totally destroyed by a fire, tornado, hurricane or other insured catastrophe. One of the decisions you Continue Reading …
My employees use their personal vehicles for business purposes. Is it OK to add their vehicles to the company business auto policy? This is a great question that our customers ask frequently. In a word, no. It is generally not a good idea to add an employee’s personally-owned vehicle to the business auto policy. The Continue Reading …
COMMISSIONER’S BULLETIN #B-0049-10 November 24, 2010 TO: ALL COMPANIES, CORPORATIONS, EXCHANGES, MUTUALS, RECIPROCALS, ASSOCIATIONS, LLOYDS, OR OTHER INSURERS WRITING PROPERTY AND CASUALTY INSURANCE IN THE STATE OF TEXAS, THEIR AGENTS AND REPRESENTATIVES AND THE PUBLIC GENERALLY RE: EVIDENCE OF COMMERCIAL PROPERTY INSURANCE The Department reminds insurers and agents that §541.061 of the Insurance Code prohibits Continue Reading …
Why would a company decide to go bare on Workers Compensation Insurance in Texas? Cost? Because it’s not required? A bad memory of comp in the 1980’s? Whatever the reason may be, the reasons to carry workers compensation are much more compelling that the reasons to carry occupational accident. If cost is your issue, you Continue Reading …
Traditionally, there have been four coverage sections on a Directors & Officers insurance policy. These four parts are Nonindemnifiable Claims, Indemnifiable Claims with a Retention, Entity Coverage, and Outside Directorship Liability. 1. For nonindemnifiable claims, the company cannot indemnify or hold harmless its directors and officers. 2. Where the company can indemnify after satisfying a Continue Reading …
Do I need special coverage for my GPS, computer, DVD player and other electronic equipment in my commercial vehicle? The mobile nature of business today has created a need for businesses to put communication and other electronic devices in their company vehicles. TVs, DVD players, GPS devices, satellite radio receivers, VCRs, CD players, computers, tape Continue Reading …