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Why’s and What’s for Personal Lines Clients - ON DEMAND - NO CE
Length: 1 Hour


Insurance exists to protect insureds against the economic consequences of an unforeseen, potentially catastrophic individual loss; however, P&C insurance policies are not designed to protect against every possible source of financial loss. Traditional insurance policies contain a list of incidents, causes or results not covered by the policy. Exclusions always exist, and there are reasons for each one. 

In this session we:

  • Introduce the three categories of exclusions; and
  • Detail why exclusions exist.

When was the last time your client said, “That premium seems fair; the insurance company is getting adequate premium to cover its exposure and I’m getting the protection I need”? I doubt ever. More than likely you have heard – maybe even today - “I can’t believe I have to pay out all this money. The insurance company is killing me. Can’t we get this premium down?”

What the insured doesn’t understand is that insurance is not about the price of insurance (which the commercials seem to tout), it is about the cost of risk. 

In this session we detail the seven costs of risk insured must consider; and it is the agent’s job to explain them. 

Carriers spend many hours in underwriting meetings discussing “premium leakage.” Maybe you have heard the underwriter slip up and use that term when explaining why they can’t class something a certain way or why the premium cannot be altered any further. And if you didn’t ask the underwriter, I bet you’ve asked yourself – what in the wide-open world is premium leakage?

In this session we define and remove the mystery from the concept of premium leakage. Maybe you can help the underwriter help you with this knowledge.

Basic Course Information

Learning Objectives
  • Learn Why are Exclusions Excluded
  • Explain the Total Cost of Risk (It’s More Than Premiums)
  • Understand What Does Your Underwriter Mean by “Premium Leakage”

Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS

Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Independent Insurance Agents and Brokers of America (Big "I") Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry.

During his career, Boggs has authored more than 300 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 13 insurance and risk management books:

  • "The Insurance Professional's Practical Guide to Workers' Compensation: From History through Audit," now in its second edition;
  • "Business Income Insurance Demystified: The Simplified Guide to Time Element Coverages," now in its third edition;
  • "Property and Casualty Insurance Concepts Simplified: The Ultimate 'How to' Insurance Guide for Agents, Brokers, Underwriters and Adjusters;"
  • "Wow! I Never Knew That! 12 of the Most Misunderstood and Misused P&C Coverages, Concepts and Exclusions;"
  • "Insurance, Risk & Risk Management! The Insurance Professional's Guide to Risk Management and Insurance;"
  • "Workers' Compensation: How You Can Effectively Answer Your Clients 12 Most Commonly Asked Questions;"
  • "Glossary of Insurance Terms;"
  • "Choosing the Best Risk Financing Option;"
  • "Writing Property and Liability Coverage for Condos;"
  • "The Truth about Enterprise Risk Management;"
  • "The Experience Mod Worksheet;"
  • "What has ISO Done to us Now?" and
  • "Cancellations, Non-Renewals & Conditional Renewals: THE Insurance Professional's Guide to Statutory Insurance Carrier Notification Requirements for All 50 States!"

Boggs is a regular speaker at industry events, speaking for groups such as the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), and the CPCU Society.

A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist


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