Search Results for: blog surplus lines insurance

Insurance Industry Executives Shave Heads for Fundraiser

Most of the time, when you find a news story that describes the activities of insurance company executives, it reports upon their bad behavior. This isn’t that type of story. A group of eight insurance industry chief executives have shaved their heads to raise money for, and awareness of, childhood cancer. It is always nice to hear a story about insurance industry executives who are doing something good! It takes a bit of explaining in order to fully understand exactly what they did, why they did it, and how that came to be. AmWINS Group, Inc. is a company that … Continue reading →

Insurance Blog Week In Review August 15-21, 2007

Insurance Term Of The Week: Surplus Lines Insurance Wednesday August 15, 2007. Surplus Lines Insurance markets are needed to provide alternatives for unusual or higher risk insurance not offered by licensed insurers or insurance companies in the state a customer lives. There are often situation where insurance coverage is unavailable from licensed insurers because of the risk exposures or because coverage terms and conditions don’t provide the specific insurance a customer needs. Related Blogs: Some History About Lloyd’s Of London Speciality Lines Insurance Million-Dollar Legs. Body Part Insurance This week I decided I wanted to get the Glossary of Insurance … Continue reading →

Insurance Terms: S

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U-V | W-Z Salvage Refers to damaged property an insurance company takes in order to reduce losses after paying an insured for a claim. Insurance companies take salvage rights over property considered to be a total loss. For example a totaled auto would become salvage property of the insurance company. The insured may pay a salvage charge in order to … Continue reading →

Surplus Lines Insurance

Surplus lines insurance markets are needed to provide alternatives for unusual or higher risk insurance not offered by licensed insurers or insurance companies in the state a customer lives. There are often situation where insurance coverage is unavailable from licensed insurers because of the risk exposures or because coverage terms and conditions don’t provide the specific insurance a customer needs. When a customer isn’t able to find insurance coverage from licensed companies, the surplus lines market provides a choice and flexibility. Surplus lines underwriters then to be creative and innovative with the products they have to offer. There are several … Continue reading →

Insurance Blog Week In Review August 8-14, 2007

Insurance Term Of The Week: Specialty Lines Insurance Wednesday August 8, 2007. Fire Safe Landscape Additions and Improvements Tips Homeowners have the obligation of protecting their home and personal property and to reduce the risk anyplace possible. It’s important to do routine maintenance and consider choice we make when landscaping to reduce the risk of fire. There are several Blogs about Fire Safe Landscaping. Thursday August 9, 2007. Fire Smart Landscape Maintenance Reminders One of the most expensive investments most people will ever make is purchasing a Home and what we do with our landscape and maintenance is an important … Continue reading →

Should You Rent a Vehicle in a Foreign Country?

In a previous blog I noted that motor vehicle crashes – not crime or terrorism – are the No. 1 killer of healthy Americans in foreign countries. That blog certainly didn’t make a very good argument in support of getting behind the wheel of a car when traveling abroad. And I didn’t even touch on the financial pitfalls associated with renting a vehicle in foreign land. For example, the car and gas will cost more than in the United States. Also, you may need to purchase additional insurance since the chances of something going wrong are much higher than they … Continue reading →

Some History About Lloyd’s of London

How often have you heard about the Lloyd’s of London insurance someone or something has in place? One of the oldest providers of unique Specialty Lines Insurance coverage Lloyd’s of London began in Edward Lloyd’s Thames-side coffee house in Tower Street in the City of London, England. The exact date of the original establishment isn’t known, but there’s evidence Lloyd’s coffee house was popular with the London business circles as early as 1688. Today, Lloyd’s is the world’s leading insurance market. Not to many people make it very long in life without hearing about this insurance provider.But, Lloyd’s isn’t the … Continue reading →