Insurance Technical Consulting Services
Whether you’re navigating a complex claim, comparing policies, or determining if coverage meets subcontractor requirements, our experienced team is here to help.
Policy Reviews
Insurance policies are complex contracts. Determining how well they meet your clients’ needs requires detailed analysis.
Careful review can:
- Help make uninsured losses less likely.
- Increase client satisfaction.
- Reduce errors and omissions liability loss frequency.
- Help you sell more insurance.
Your busy staff may not have time to review policies in depth, and that’s where the IAAC Insurance Technical Consulting Services can help.
Our policy review team can:
- Compare policy provisions to insurance requirements in contracts and find potential shortfalls.
- Analyze how the coverages address the client’s stated loss exposures.
- Interpret how policy provisions apply to specific loss situations.
- Identify vague and ambiguous provisions in policies.
- Research how courts have interpreted relevant words and phrases in policies.
Policy Comparisons
No two insurance policies are alike. This is especially true for primary and excess commercial property and liability policies.
Two commercial general liability policies issued by different admitted carriers can have significant coverage differences. A policy issued by a non-admitted carrier may say anything. This makes advising your client a challenge.
The IAAC Insurance Technical Consulting Services team can:
- Compare multiple policies of the same kind from admitted and non-admitted carriers.
- Identify coverage differences relevant to your client’s loss exposures and contractual obligations.
- Spot differences in policy conditions that can affect claim payment.
- Research the financial strength ratings of the carriers.
Compliance Reviews
Many laws and regulations govern how insurance agencies and carriers do business.
It can sometimes be unclear whether your agency is following the rules. Other times you may believe carriers or competing agencies are pushing boundaries.
The IAAC Insurance Technical Consulting Services team can help you navigate the maze of regulations by:
- Reviewing your current or potential procedures.
- Comparing them to requirements in relevant insurance and non-insurance laws and regulations.
- Suggesting alternatives that comply with requirements.
- Assessing whether the actions of carriers and other agencies comply with the rules.
- Suggesting potential responses to non-compliant actions by carriers and agencies.