Insurance Basics
What are Nuclear Verdicts?
Nuclear verdicts are exceptionally large jury awards that often exceed millions of dollars, reaching $10 million or more. These verdicts usually resul...
How do I total Business Interruption?
Business interruption insurance is a type of coverage that provides financial protection to a business if it is unable to operate due to a covered per...
What is the difference between Agency Bill and Direct Bill?
In the insurance industry, there are two main methods of billing: Agency Bill and Direct Bill. Agency Bill involves the insurance agency billing the c...
What does Due Diligence in E&S mean?
Insurance agents must follow a regulated process for placing an account in the E&S market. Before placing coverage in the E&S market, there must be a ...
What are Supplemental Applications?
Supplemental applications are crucial in the Excess and Surplus (E&S) market. Underwriters often encounter unique and hard-to-place risks, requiring c...
What are the different Cause of Loss/Coverage forms?
In insurance, Cause of Loss Forms (also known as Coverage Forms) specify the types of perils or causes of loss that are covered under a particular pol...
What is hired & non-owned auto coverage?
Hired and non-owned auto coverage (often abbreviated as HNOA) is a type of insurance that protects businesses in cases where employees use vehicles no...