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Hot Topics

What are people talking about? What's the hottest insurance news trending out there? You're in luck, because we have it all here! Read on to discover hot topics. 

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Dog Breeds and Arizona Homeowners/Renters Policies

Effective June 30, 2023, Arizona bans the breed of a dog from being the sole factor considered on homeowners' or renters' insurance policies.
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Work Comp Assigned Risk Renewal Commissions

Arizona requires producers to submit rejections from two standard markets for Workers Compensation policy renewals in the Assigned Risk Program in order to receive commissions. 
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​Arizona Annual Privacy Notices

Arizona's statues were modified in 2019 and no longer requires annual privacy notices to be provided to policyholders unless agencies changed their practices or policies.
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E&O Do's and Don'ts When There is a Claim

Under most professional liability insurance policies a “claim” arises when you first become aware of a proceeding, event or development which could result in liability for you. A claim includes a lawsuit, a regulatory complaint, a request for mediation or arbitration and a demand for money or services. Any claim should be promptly reported to your insurer.
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A Crash Course on the Family Purpose Doctrine

Wow! Talk about a close call. Here's one from the Arizona files of close calls. One of our members, lets call him Mr. Lucky, had a large personal lines client with a teenage son. As fate would have it, the son accumulated a driving record that was absolutely horrible. The parents had significant wealth, and carried very high liability limits to protect that wealth.
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What is a Hard/Soft Insurance Market?

Most of us understand that a hard market is an effort for insurance companies to return to profitability. Higher premiums and elimination of policyholders that have had high losses is the obvious actions underway but these steps are only part of the actions underway.
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Definition of Occurrence in Construction Defect

At a minimum, the Lennar v. Auto Owners Insurance Co. decision provides clarity on exactly how an “occurrence” is defined in the context of a construction defect case.
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Punitive Damages Primer

The key to the concept is found in the term 'punitive' or punishment. Punitive damages are also referred to as 'exemplary' damages. The objective of punitive damages is to financially punish someone for a behavior that is so 'bad' that the courts want to not only punish the wrong doer but to send a message to society that this type behavior will be punished.
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Diminution in Value

In today’s electronic age, it is astonishing how much information is available on any subject. If you have an accident in your vehicle and an insurance claim is paid . . . that information is now in a database that anyone with a few dollars can access.
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Do I Own My Book of Business?

Do I own my book of business? What does my contract say? These are just some of the questions every Independent Agent must ask when entering into business with a carrier. The most important asset your agency has is the ownership of its book of business.
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Trust Accounts in Arizona

We do have an existing statute that protects consumers and insurance companies by prohibiting an Arizona producer from misappropriation or conversion of fiduciary funds. Arguably, that is a form of “Trust Account” statute as it prevents the producer from conversion of company or client monies to their own use.
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