Best Practices for Insurance Agency Exit & Succession
Best Practices for Insurance Agency Exit & Succession InsurBanc’s Robert Pettinicchi was recently interviewed in an article for Property Casualty 360. The article discusses how to get prepared for the future and start formulating a plan for succession. Whether you are moving on from your insurance agency, going into retirement, or going into another business,…
Number One’s Lawyers’ Professional Liability Program is on FIRE!
Number One’s Lawyers’ Professional Liability Program is on FIRE! We are only halfway through February and MAIA’s Number One Insurance Agency has written almost 50% of our New Business goal for the Lawyers’ Professional Liability Insurance (LPLI) program! Our long-term partnership with Westport Insurance Corp and profitable LPLI book of business has given our mutual…
Aftermarket Lift Kit
Aftermarket Lift Kit QUESTION This question was answered based upon current rules, regulations & statutes in effect on January 22, 2019 My insured is purchasing a 2006 Jeep. It has a 4” aftermarket Lift Kit. Are there any rules at MASS DOT that make this illegal to register in MA? Thanks!
An RLI PUP Might be the Solution for the New Short-Term Rental Law
An RLI PUP Might be the Solution for the New Short-Term Rental Law We know that the new short-term rental law in MA — formally known as the “Act Regulating and Insuring Short-Term Rentals” — has generated many questions from our members. Many have inquired if an RLI Stand-Alone Personal Umbrella Policy (PUP) is a…
Ross, Webber and Grinnell Insurance Uplifts Spirits With Paper Bag Lunches
Ross, Webber and Grinnell Insurance Uplifts Spirits With Paper Bag Lunches The Ross, Webber and Grinnell Agency doesn’t only seek to fill the bellies of their local community, but to also fill their spirits. The staff was able to lend a helping hand through a program offered at Providence Ministries in Holyoke, Kate’s Kitchen.
Commercial Weight Cap for Registration
Commercial Weight Cap for Registration QUESTION This question was answered based upon current rules, regulations & statutes in effect on January 24, 2019 Is there a weight cap where it would have to go to a CON plate in MA?
Record Retention
Record Retention QUESTION This question was answered based upon current rules, regulations & statutes in effect on January 23, 2018 Do you know what the rules/laws are regarding keeping old files. In January 2017, we started to scan all of our documents. We still have files from 2016 back to 2012 in some cases. I…
African-American History in The Insurance Business
African-American History in The Insurance Business February’s IA magazine presents Memphis agency owner Fred L. Davis as the subject of the Declaration of Independents. Davis, who began his agency in 1967, was the first African-American insurance agent in six states. He tells a fascinating and often painful story of building a career in a…
Backhoe Registration
Backhoe Registration QUESTION This question was answered based upon current rules, regulations & statutes in effect on November 08, 2018 I have a customer inquiring on how to get a backhoe on the road. What kind of plate would it need and would it go on a comm’l auto policy? Let me know.
Personal Umbrella/Business Use Auto
Personal Umbrella/Business Use Auto QUESTION This question was answered based upon current rules, regulations & statutes in effect on November 26, 2018 Does my personal umbrella follow me as a driver of my business car when I am using it for personal use ??? I believe the umbrella is intended to follow ME not just…
All-in-One Small Business Insurance Product “THREE” from Berkshire Hathaway Heightens Commercial Competition
All-in-One Small Business Insurance Product “THREE” from Berkshire Hathaway Heightens Commercial Competition Berkshire Hathaway Insurance Group has announced THREE, a “game-changing, comprehensive insurance product for small business.” In a press release, Berkshire Hathaway explained that THREE provides coverage for workers comp, multiple liability coverages (general liability, errors and omissions, and cyber), property, and auto in a three-page, plain-English insurance policy. Berkshire Hathaway will be providing THREE direct…
Employee Use of Personal Vehicle
Employee Use of Personal Vehicle QUESTION This question was answered based upon current rules, regulations & statutes in effect on November 27, 2018 I was hoping you could assist with a question from one of my health center clients. The health center is asking one of their employees (with a personal auto policy) to drive…
MAIA Welcomes 7 New Members
MAIA Welcomes 7 New Members MAIA is delighted to announce that four new Massachusetts agencies have joined as full members, and three organizations as associate members, since January 1, 2019. We look forward to a great year ahead.
Operator Exclusion
Operator Exclusion QUESTION This question was answered based upon current rules, regulations & statutes in effect on November 27, 2018 I just read the Tech Talk on Operator Exclusions. This is great !! THANK YOU for putting it together . This has always confused me!! Our company does not allow us to use the exclusion…
Our Voices Were Heard: Over 60 Legislators Co-Sponsored Our Bill
Our Voices Were Heard: Over 60 Legislators Co-Sponsored Our Bill Thank you and congratulations to everyone who took prompt action last week when MAIA sent out the call to action! Your efforts urging legislators to cosponsor HD1011 / SD919, “An Act Relative to Fair and Accurate Motor Vehicle Insurance Quotes,” yielded a terrific response —…
Garaging on BAP
Garaging on BAP QUESTION This question was answered based upon current rules, regulations & statutes in effect on November 28, 2018 I have a client who has two Auto policies…A Massachusetts Automobile policy and an Out of State Automobile policy. Their home office is in Hudson, NH (They moved from Dracut, MA two years ago)…
Tips for Protecting Your Agency from Flood-Related E&O Claims
Tips for Protecting Your Agency from Flood-Related E&O Claims Recent storms and flooding events have caused an uptick in E&O claims against agencies, as desperate insureds try to recoup flood losses by taking action against their insurance agents. Utica National Insurance Group recently published valuable tips about what you can do to help protect your…
Loss of Use on a Rental
Loss of Use on a Rental QUESTION This question was answered based upon current rules, regulations & statutes in effect on January 07, 2019 Question is does loss of use on rental vehicles covered? Basically this is you rent a car and involved in accident and the rental had to be taken out of commission…