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Author Archives: Regina Anderson, Insurance Information Services
IIAT staff recently surveyed IIAT member insurance companies in Texas to update their agency appointment strategies, resulting in the 2017 edition of IIAT’s Company Appointment Guide. Find out which companies are considering additional agency representation in various parts of the state.
Q. What is the difference between an insurance binder and a certificate of insurance? Don’t both prove that coverage is in effect? A. A binder is an actual contract of insurance for an insured. When you bind coverage you are … Continue reading
Q. Our insured has a TDP-3 and during a storm, lightning hit and split a tree. Is there coverage on the dwelling fire policy for the tree and does the deductible apply? A. Yes, there is coverage if the loss was … Continue reading
Q. Our insured is having a house built and the contract with the builder is requiring a waiver of subrogation on the home for any damage and for liability after the home is completed and closed so it would fall … Continue reading
Q. I have an insured with a teenage son who just got his license and the parents want to exclude him on their policy and write him a separate named non-owner policy. Can we do that? A. The teenager would … Continue reading
Q. Can a mortgage company require the amount of insurance on a homeowner’s policy to be the same as the loan amount? A. A lender may not require a borrower to purchase homeowners insurance coverage, mobile or manufactured home insurance coverage, … Continue reading
Q. Our insured co-signed a loan for his daughter to purchase a car and the lender titled the car in both the dad and daughter’s name. The daughter lives at home so she is a family member. Can we just … Continue reading
Q. We have an insurance carrier canceling a business auto policy, mid-term because of loss control. Can they cancel mid-term? A. If the carrier is admitted, cancellation is statutory for most policies. If the carrier is surplus lines statutory, statutory … Continue reading