Property and Casualty Insurance in North Texas
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 …
Why is your insurance 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 Continue Reading …
Download the pdf version of this article here: What is an experience modifier, how is it computed and how does it affect my premium.pdf The experience rating modifier is the one area where an employer’s efforts can significantly reduce insurance premium cost. Experience rating is the interaction of claims management and workers compensation insurance pricing. Continue Reading …
What is the difference between Personal Injury Protection and Medical Payments insurance coverage? If I have workers’ compensation insurance, why do I need either? How about Uninsured Motorists coverage? These are great questions that our customers ask frequently. You understand the need for auto liability and physical damage insurance. Liability coverage protects you and your Continue Reading …
Why do I have to carry so much insurance on my commercial property? Your policy contains what is called a coinsurance provision. Coinsurance is essentially an agreement between you and the insurance company. In exchange for your agreement to insure the property for at least a specified percentage of its actual value, the company agrees Continue Reading …
A claims-made insurance policy is most often used to provide professional liability insurance coverage, such as the coverage needed by lawyers and doctors to protect them from malpractice claims. But it is also used frequently for other types of liability insurance, such as employment practices liability, directors and officers liability, and products liability. It is Continue Reading …