Insurance Regulation Archive

The Civil Authority Clause: How Does It Work?

The Business Income Coverage (BIC) form provided by ISO includes an Additional Coverage entitled Civil Authority.  Because of the hurricane activity in coastal North Carolina in the last few years, several questions about the coverage and how it works have arisen.  So, it may be time to take a more in depth look at this

If You Got’m, Smoke’m: New Cannabis Endorsements for Commercial Insurance

The legalization of cannabis is a growing trend in America.  We are lucky to have a national authority on cannabis and insurance here in North Carolina: Dr. Brenda Wells at East Carolina University is recognized as one of the most knowledgeable insurance authorities on this subject.  Access to some of her work on this subject

Ride-Helling… (I’m sorry, I meant Ride-Hailing)

Insurance has traditionally been aggregated into two hemispheres: insurance for personal property and activities, and insurance for commercial property and activities. There has always been some use of commercial property for personal uses, i.e. a business vehicle used personally. However, coverage for the use of personal property or activities in a business or commercial manner

Why I Support Passage of a Hands-Free Law for North Carolina

By: NC Rep. Kevin Corbin (R – Macon) Rep. Kevin Corbin owns The Corbin Agency in Franklin, North Carolina, and Blue Ridge Insurance Group in Seneca, SC. Kevin’s wife, Beth, is active the management of the agencies. He is in his second term in the NC House representing the people of District 120, which includes

Do You Have a South Carolina Insurance License?

If so, new South Carolina regulations (that became effective January 1, 2019) may impact you! On May 9, 2018, South Carolina enacted the Insurance Data Security Act, which is modeled after the NAIC Insurance Data Security Model Law. Among other things, the legislation requires licensees (unless exempted) to develop, implement and maintain a comprehensive written

A Message from Aubie

People often ask me about my outlook for the insurance industry and the independent agency system.  Whether you see the expression “may you live in interesting times,” as a blessing or a curse, there seems to be little doubt that we do indeed live in interesting times. As one looks to the short-term future (three

Concurrent Causation Revisited

A recent ruling by the Florida Supreme Courts (FSC) is creating a stir in Florida insurance markets and may have national repercussions.  In December of 2016 the FSC handed down its review of a decision by the Second District Court of Appeals (DCA) in American Home Assurance Co. v. Sebo (141 So. 3d 195 (Fla.

Some Workers’ Compensation Relief – HB765 Signed Into Law

An omnibus regulatory reform bill (HB 765) was signed into law by Governor McCrory on Oct. 22, 2015 and is now effective.  It contains a provision which addresses a problem with workers’ compensation that has emerged over the last couple of years. The existing provision of the Workers’ Compensation Act of North Carolina (the Act)

Some Workers’ Compensation Relief: HB765

An omnibus regulatory reform bill (HB 765) has been ratified and sent to the Governor for signature.  The bill becomes effective upon becoming law.  It contains a provision which addresses a problem with workers’ compensation that has emerged over the last couple of years.  The existing provision of the Workers’ Compensation Act of North Carolina

Does Every Business Owner Need to Be an Attorney? Who or What is an “Employee?”

Historically, most business owners understood that someone working for them was an “employee.” Further, “independent contractors” were infrequently used by the average business. However, times have changed. Administrative, benefit and regulatory costs related to employees have increased, leading business owners to search for ways to moderate these costs. Using workers who are not called “employees”