Putting Kids on Insurance or Not

[LGilmore]

Air Jer, whaaaaaaaaa.

I will cry into my pillow tonight big fella. Good luck with your theory. Make sure your E&O is paid up.
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"The premium for this policy is based on information [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]we [/FONT][/FONT]received from [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]you [/FONT][/FONT]and other sources. [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]You [/FONT][/FONT]agree to cooperate with [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]us [/FONT][/FONT]in determining if this information is correct and complete, and to notify [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]us [/FONT][/FONT]if it changes during the policy period. If this information is incorrect, incomplete, or changes during the policy period, [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]you [/FONT][/FONT]agree that [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]we [/FONT][/FONT]may adjust [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]your [/FONT][/FONT]premium accordingly. Changes that may result in a premium adjustment are contained in [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]our [/FONT][/FONT]rates and rules. These include, but are not limited to, [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]you [/FONT][/FONT]or a [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]relative [/FONT][/FONT]obtaining a driver's license or operator's permit, or changes in:
1. the number, type, or use classification of [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]covered autos[/FONT][/FONT];
2. operators using [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]covered autos[/FONT][/FONT];
3. an operator's marital status;
4. the place of principal garaging of any [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]covered auto[/FONT][/FONT];
5. coverage, deductibles, or limits of liability; or
6. rating territory or discount eligibility "

"DUTY TO REPORT CHANGES
You [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]must promptly notify [/FONT][/FONT]us [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]when:
1. [/FONT][/FONT]your [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]mailing or residence address changes;
2. the principal garaging address for a [/FONT][/FONT]covered auto [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]or a [/FONT][/FONT]trailer [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]shown on the [/FONT][/FONT]declarations page [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]changes;
3. there is a change with respect to the residents in [/FONT][/FONT]your [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]household or the persons who regularly operate a [/FONT][/FONT]covered auto[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica];
4. an operator's marital status changes;
5. [/FONT][/FONT]you [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]or a [/FONT][/FONT]relative [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]obta[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]n a dr[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]ver's l[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]cense or operator's perm[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]t; or
6. [/FONT][/FONT]you [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]acquire an additional or replacement vehicle. "[/FONT][/FONT]
[FONT=Helvetica,Helvetica][/FONT]
[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]"FRAUD OR MISREPRESENTATION
[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]Th[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]s pol[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]cy was [/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]ssued [/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]n rel[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]ance upon the [/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]nformat[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]on prov[/FONT][/FONT]i[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]ded on [/FONT][/FONT]your [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]insurance application. Notwithstanding anything to the contrary in this policy or on [/FONT][/FONT]your declarations page[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica], [/FONT][/FONT]we [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]may void this policy at any time, including after the occurrence of an accident or loss, if [/FONT][/FONT]you[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]:
1. made incorrect statements or representations to [/FONT][/FONT]us [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]with regard to any material fact or circumstance;
2. concealed or misrepresented any material fact or circumstance; or
3. engaged in fraudulent conduct;
with the intent to deceive at the time of application. This means that [/FONT][/FONT]we [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]will not be liable for any claims or damages that would otherwise be covered.
[/FONT][/FONT]We [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]may deny coverage for an accident or loss if [/FONT][/FONT]you [FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]or a person seeking coverage has knowingly concealed or misrepresented any material fact or circumstance, or engaged in fraudulent conduct, in connection with the presentation or settlement of a claim."[/FONT][/FONT]
[FONT=Helvetica,Helvetica][/FONT]
[FONT=Helvetica,Helvetica][FONT=Helvetica,Helvetica]Do you want me to keep going or has your head gone deeper into your arse? You're a fool. Leave the business before somebody follows your advice and then has an accident and loses coverage. I want to keep my E&O rates low and you're a person who will push rates up for everybody else on your way out the door.
[/FONT][/FONT][/FONT][/FONT]

 

[Air Jer]

LGILMORE: I don't know a thing about selling securities in the state of Washington. I have 30+ years in property & insurance as an agent, field rep, underwriter, and underwriting manager in addition to the agency side. I have the CPCU, CIC,CRIS,AAI, AU designations. I will match my knowledge on what I do against you know what I do any day of the week. I don't have my head up my ass but I won't swear to you.

 

[LGilmore]

Then why such a stupid assed stance?

Why then, doesn't your common sense tell you anything?

With all that experience, have you considered that maybe you're so smart, you're being dumb?

It isn't a matter of matching knowledge as knowledge can be gained via research, that isn't hard. But really what was your point?

Did your folks ever tell ya you were overthinking sometimes?

And looking at your desinations and different job titles, that doesn't really have the impact you might think. It could be a sign that you change positions and job titles because you're not strong at any of them. Lots of people are in this business because they have no where else to go.

 

[Air Jer]

whatever....

 

[LGilmore]

"whatever.... "


yup. your point again was?????

 

[brooks]

I have >30 years experience in the claims game .... property, casualty and business lines. Air Jer is correct.

 

[LGilmore]

so three posts above is incorrect or are you another forest for the trees guy?

That's cut and pasted right out of my policy. If you guys are both thumping your chests about a boilerplate that companies then modifiy for their purposes, again what's your point? That there's a boilerplate that doesn't specifically state the obivious?

It seems as you both are saying a person doesn't have to include an of age driver in their policy based on a boilerplate. when I read MY policy it states something different. It gives the carrier the option of not paying if I have purposely omitted an possible driver.

Again I ask you who actually uses this form in the way you state out there? name companies and post their policies that allow a client to omit information and still be covered? thanks.

 

[CaptiveGuy]

The carrier has the option of not paying but most times they will. My client did not disclose his 16 year old and when a claim was filed we paid it and we had to add the 16 year old to the policy or the client had to submit proof he had insurance elsewhere.

In the interest of keeping clients happy, many of the policy provisions are not followed strictly. What the policy jacket reads and how claims are handled are two different things.

 

[LGilmore]

"In the interest of keeping clients happy, many of the policy provisions are not followed strictly. What the policy jacket reads and how claims are handled are two different things. "

Crap had a long thing all written out to respond and s hit, gone.

in the shortest answer possible, in these situations you are hoping the insurance carrier makes a business decision rather than following the policy to the letter of the contract. The insured, while failing to disclose pertenent information, has to be hopeful, they'll be covered.

This is where the forest for the trees comes in. On a certain day, in a certain state, at a certain time, ya sure you have coverage, but if anything happens, well you hope they understand.

I am sorry for being so harsh, but I do get alittle po'd when someone makes statements that could lead an insured in a state where ISO doesn't work the way it does in your state, into a serious mistake. the start of this post was about a lady who purposely was excluding a of age driver to keep her premiums down. A bad idea and simply something that shouldn't be encouraged in a public forum.

Yes, if the stars aline, you can pull it off. but really on a national forum, is it a good idea to post without clarifying what states and what companies work that way?
M

 

[joshb]

I have >30 years experience in the claims game .... property, casualty and business lines. Air Jer is correct.

You need to elaborate a little more than that. Air Jer is correct about children being insureds. Thats it. A claim can and sometimes is denied for not disclosing the change of risk as the policy states you need to. I have seen a claim denied in this very situation!

Years of experience is irrelevant. When I took the 2-20 course years ago there was a guy in there also taking the course he had 30+ years of experience in the industry, but was on his 4th try because he couldn't pass.