In hail-prone states, the average roof lifespan is 15 years, compared to 22 years in Western states, such as Nevada, Arizona and Utah, which experience less severe weather, the report said. Verisk data also found that roofs start to fail within a decade in some regions. •
inspections, where insurers inspect a roof from the ground level with limited visibility, can cause inspectors to miss signs of damage, according to Verisk. This can also inhibit insurers from adopting more up-to-date pricing, coverage and risk management strategies.
Asphalt shingles are used on 80 % of roofs in the U. S. Approximately, 29 % of homes with asphalt shingles have less than four years of remaining useful roof life, according to Verisk. States such as West Virginia, Connecticut, New Jersey and Massachusetts have the highest percentage of roofs with less than four years of remaining roof life.
Crucially, roofs with less than four years of remaining useful roof life can result in 50 % more damage during severe weather compared to roofs with eight-plus years of remaining life, according to the report.
In hail-prone states, the average roof lifespan is 15 years, compared to 22 years in Western states, such as Nevada, Arizona and Utah, which experience less severe weather, the report said. Verisk data also found that roofs start to fail within a decade in some regions. •
Olivia Overman is a content editor for the BIg I ' s trade pubilcation, Independent Agent magazine.
BIG“ I” PROFESSIONAL LIABILITY ONBOARDING
September 2022
OUR AGENCY BELIEVES IN REDUCING E & O EXPOSURE
PROFESSIONAL LIABILITY.
Whether you’ re a seasoned producer, account manager or just beginning your insurance career, we developed some customized training videos that will help you better serve our customers and avoid potential E & O claims. We feature 13 core videos on topics that frequently drive E & O claims and are challenging topics for many agents. There are also several videos that are optional viewing on business income and workers compensation coverage.
The videos last between eight minutes and 30 minutes and provide insight into placing that type of coverage. Because agents’ professional liability errors and omissions( E & O) is such a widespread problem for today’ s insurance professionals, we want to ensure you view the videos to help avoid an E & O situation. The critical knowledge from our Big“ I” experts will also help you gain technical coverage knowledge you will use throughout your insurance career.
Please take the time to review these educational videos when you are able. If you have any questions or want to discuss, please reach out to your supervisor.
Just a warning: Reading the key takeaways and handouts does not replace listening to the videos. Click the play icon to view the accompanying videos and the PDF icon to view the handouts.
�
C OMMERCIAL PRODUCER & ACCOUNT MANAGER
T R AINING GUIDE & O NBOARDING
R ESOURCE
Copyright © 2022 Independent Insurance Agents & Brokers of America, Inc. All rights reserved. No portion of this document may be reproduced in any manner without the prior written consent of IIABA ®.
The E & O Guardian Commercial Lines Producer Onboarding guide will take you through 13 core videos critical to your onboarding process and includes key takeaways and links to accompanying handouts.
Access to the E & O Guardian risk management website is an exclusive Big“ I” member benefit. Content may be accessed by Big“ I” members, with key resources reserved for exclusive access by Swiss Re Corporate Solutions E & O policyholders
* You will be prompted to login with your Big“ I” membership credentials to access this resource.
Upland Mutual Insurance, Inc. Serving Kansas Since 1896
‣ Auto / Homeowner / Farmowner Multi Policy Discounts
‣ Online rating and submissions
‣ Agency Download to your management system
Ԃ Ԃ Ԃ
DOWNLOAD IT NOW AT https:// eoguardian. com / commercial-producer-onboarding /
Kansans Serving Kansans for Over 125 Years
MAY / JUNE 2025
13