Nicole Vinson

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Don’t Ignore Warnings of Tropical Systems

When the weather turns ugly during Hurricane season, it is important to be prepared.  As I write this blog, tropical depressions and Tropical Storm Hermine are on the radar.  Not yet hurricanes, but policyholders must still be vigilant in protecting their property and being prepared. If the storms miss your property, at least you have … Continue Reading

Florida Signs on to Exchange Insurance Information Globally with the Multilateral Memorandum of Understanding

Add Florida to the list that already includes Australia, Canada, Singapore, Switzerland, as the 55th jurisdiction to agree and be admitted to the International Association of Insurance Supervisors Multilateral Memorandum of Understanding. In the US, Michigan, Connecticut, Nebraska, California, and Pennsylvania preceded Florida. The MMoU was established in 2007 with a mission to provide a … Continue Reading

Yacht or Boat Insurance: Check the Vessel’s Theft Coverage

Many insureds feel that by paying a high premium and having a good relationship with their insurance broker, they should have good insurance or better than average coverage. Relationships and continued service creates a bond and trust between broker and buyer. However, it is still critical that the insured review and read the insurance policy. Reading … Continue Reading

Even if Gross Profits Increase after a Loss, Business May Still Have Business Income Loss

When calculating a business income loss, it is important to look at the company as a whole and to look at individual segments of the business. Under a standard loss calculation where the projected “but for” revenues were considered by deducting the revenues from sales of substitute products and applying a profit factor to the … Continue Reading

Policy Interpretation Matters for Coverage Application and Court Reminds Insurance Company that it Wrote the Policy

At a recent insurance conference, I heard a discussion in passing between industry folks about the trend of trying to kill the name “all-risk insurance policy.” The basic conversation was that we should stop using the all-risk language and use the form names more because the insinuation has been made that the policies labeled as … Continue Reading

Beware of Your Insurance Company’s Overused Denial Phrases Tactics That Are Not Supported by the Facts

The insurance policy for your property is not to be used as a warranty agreement. The policies generally cover sudden and accidental losses caused by covered perils or perils not excluded to covered property. There is a time and place insurers to rely upon the policy limitations and exclusions when after an investigation the facts … Continue Reading

Commercial Marine Insurance and Depreciation on Engines

When Hurricanes hit, residential and commercial property are commonly considered when you think of the insurance losses. But in coastal states hurricanes can also have a devastating impact on commercial and recreational marine losses. As with residential and commercial property, you need to be sure you review and understand your boat’s insurance policy. It is … Continue Reading

All-Risk Coverage Includes Damage to Buildings Caused by Vehicles that Plow into Buildings

Sudden and Accidental impacts that come in the form of cars, trucks, tractors, or other motorized vehicle are covered under structure or Coverage A insurance under most policies. Often, we encounter with weather related perils, but for policyholders who have suffered a claim loss of property damage caused by a vehicle that runs off the … Continue Reading

Expenses to Reduce Your Loss are Covered Under Your Business Income Coverage

Business Interruption losses can be complicated, confusing, and for some business the damages are the end of the story. Having the right coverage for your business, your buildings, and the business property can make all the difference for your livelihood if a loss occurs. One additional coverage that is also common to purchase is Extra … Continue Reading