Homeowners
Coverage that provides the funds to repair or rebuild your home.
Dwelling Coverage
Progressive is one of the most well-known insurance providers that offers which type of “forgiveness”—for example, if you wreck your car, you might be able to get some extra coverage so that your rate won’t go up?
Accident Forgiveness
What is the document provided to a client in their renewal that shows them a comprehensive list of all policies, coverages, and a side-by-side of last years premium to this years?
Program Summary
What kind of liability insurance would be a handy thing to have in the event of a catastrophic loss where you are held responsible, and your other insurance has been exhausted?
Personal Umbrella
A person who manages and maintains the day-to-day relationships of existing clients.
Relationship Manager / Account Manager
Coverage for loss of use due to damage that makes the premises uninhabitable.
Loss of Use
Pays for insured's injury caused by a driver whose liability limits are insufficient to cover the loss.
Uninsured/Underinsured Motorists
the annual process to make sure an insurance program is keeping pace with a clients lifestyle.
Renewal Review
Which type of liability insurance protects your customer’s data in the event of a hack?
Cyber
A person who reviews submissions and assesses risk for insurance companies. They evaluate the potential risk and if the applicant meets the necessary criteria.
Underwriter
Coverage that pays when your personal possessions are damaged or stolen.
Personal Property Coverage
Coverage that pays reasonable medical and funeral expenses to a covered person resulting from an accident.
Medical Payments
What do we call the list at the end of our renewal agenda or the advice we give clients to help them either mitigate themselves from a loss or be prepared for potential catastrophic events?
Risk Management
What is the most important organizational skill to be a successful relationship manager?
Good Time Management
A person who evaluates the details and circumstances of a loss, determines coverage, and issues payment.
Claims Adjuster
When you hear it, you might think of antiques or fine jewelry, but which term also applies when you’re evaluating a property to figure out its reconstruction cost?
Appraisal
True or False: All car insurance policies cover flood damage.
False, Flood is only covered when comprehensive coverage is selected. More and more insurers are adding flood deductibles or exclusions after catastrophic flooding events.
What do we call the act of reviewing a renewal and comparing to all potential options within the marketplace?
Remarketing
In insurance, what S-word means the assumption by a third party, (such as an insurance company) of a policyholder's legal right to collect damages from a claim?
Subrogation
A person who develops COI relationships, networks, and focuses on bringing business to the agency/firm.
Advisor
Name one of the main High Net Worth Insurers.
Chubb, AIG, Pure, Vault, Cincinnati, Berkley One
True or False: Gender plays a role in your auto insurance rate.
True!
Name one additional type of coverage you may recommend in a renewal (in addition to home, auto, umbrella, watercraft, collections).
Travel, Cyber, EPLI, D&O, Aviation, K&R, Special Events, Holistic options (commercial, EBG, Life)
What coverage should be added if a client has domestic staff such as nannies, housekeepers, personal chefs?
EPLI (Employment Practices Liability)
A person who works for an insurer as the main point of contact for an agency's relationship with that insurer.
Business Development Manager, Agency Sales Manager