The narratives for Agribusiness and for Associations categories in the Producer's Commercial Lines Risk Evaluation System have been updated. The following are some of the many classifications that were updated:
Car Clubs
Cash Grain Operations
Condominiums
Dairy Operations
Farm Labor Contractors
Fraternal Orders
Goodwill Industries
Horse Farms
Parent Teacher Associations
Salvation Army
Wineries
YMCAs
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The insurance company sent a notice of cancellation to the Quintana's mailing address. It provided a full 10 days notice as their policy required. However, the Quintanas never received the notice because they were not home. They were visiting their son for an extended period of time and did not know anything about the cancellation until after the arson fire that destroyed their home.
The Quintanas argued that their coverage continued to apply because they never received the notice. The trial judge agreed with them.
In-depth risk management, superior service, and excellent coverage are of little use to a customer whose policy has not been set up correctly. The three most basic and essential items of information are the named insured(s), the mailing address, and the covered property (ies) address (es). An error in any of these three could result in a very difficult conversation if a loss occurs.
The Quintanas were at their son's home for more than a month when the arson loss occurred. Would their homeowners have considered their house vacant? If it was vacant, would that have been another reason to deny coverage?
As is the case with most industries, the insurance industry has a language of its own. These words matter to your customers but they might not fully understand them. Vacancy is one example, named insured is another, and there are many more. Consider getting back to basics with your customers so that they will discover how little words can make a big difference.
