Group Policy #2 is a policy also drawn up by a broker, underwriter, CPCU or similar person, except the only “Group,” delineation is that the roofers are looked at as a group when it comes to premium rating and Loss ratios. But the negative is that 1 large claim can wipe out all coverage for all insureds, and it’s very rare you will get a refund. This can be a good thing, as it will keep costs down for the roofer union or group. The issue is that the policy is written as one large shared policy. The broker or underwriters thinks she or he has a promising lead at a roofers’ convention where she or he could sell policies to a large number of people. Group policy Type #1 is a policy mostly likely drawn up by a Broker or similar professional who wants to target a certain group. It is my opinion that this is one major thing an entertainer needs to approach carefully when purchasing coverage insurance. (The are many different ways to obtain coverage.) Let’s start off with the 2 “main” types of group policies entertainers may be eligible to purchase. What does this verbiage mean, why does it cost extra premium dollars, and how does it affect you as a Named Insured?Īlthough, I work with lawyers all day I want to make it very clear that I am writing this from the view point of an entertainer and NOT an insurance company or broker or underwriter. Clients are now dealing with venues and clients asking for Primary and noncontributory coverage and a Waiver of Subrogation.
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