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The Ratings and Operations of Insurance Companies – Part One

A policyholder should desire only to be insured with an insurance company that is financially responsible and strong. Insurance companies are rated based on their financial strength, reputation in claim handling, competence of management, and the caliber of their agency force.  The most common rating agency is A. M. Best®. Best’s rating system currently ranges [...]

2021-05-22T15:38:16-05:00July 19th, 2021|General|

The Standardization of Policies

Years ago, progress was made to standardize insurance policy language.  Most insurance carriers have since modified their policy language to conform to the standard language. These efforts created the organizations of Insurance Service Office (ISO), the National Council on Compensation Insurance (NCCI), the American Association of Insurance Services (AAIS), and others. These organizations are recognized [...]

2021-05-22T14:54:25-05:00June 28th, 2021|General|

Standards of Insurance

A college textbook on insurance published in 1954 contains the same fundamental principles as those in today’s industry.  Building codes change. Vehicles and machinery are re-designed. Insurance coverages are modified or enhanced.  Methods and procedures change; however, the fundamental principles of insurance will remain unchanged for generations to come. Trust is Essential The most important [...]

2021-05-22T14:43:15-05:00June 14th, 2021|General|

Insurance Premium Swings

External Factors Affect Premiums There are so many factors that will affect how much a business owner will pay for premium.  She or he should be aware of is that certain external factors can and will affect the cost for insurance. The external factors that drive how much premiums are include: How well the insurance [...]

2021-05-22T14:36:55-05:00June 8th, 2021|General|

Spend Time With Your Agent Understanding Your Policies

Each of our blogs are going to be covering specific types of insurance that a business owner needs to consider.  In some cases we will breakdown the “Anatomy of” a policy.  These sections of the blog will be intended to describe the policies in a layman’s way and help the business owner understand his or [...]

2021-05-22T14:20:50-05:00June 1st, 2021|General|

The Morning the Tornado Came

On March 3rd, 2020, a deadly tornado swept through Nashville and Middle Tennessee. Unexpected, frightening, and devastating are the words I have heard when people describe the early morning of March 3rd. Businesses were leveled and homes destroyed. This event, this unfortunate and very devastating disaster, is the reason insurance is so important to you, [...]

2020-09-03T15:22:20-05:00March 3rd, 2020|General|
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