Insurer Wants Square Peg For A Round Hole – Bank Loss of Income Insurance

A property insurer asked the bank's insurance agent to have the bank complete a loss of income worksheet. He reached out to me for help....   Matt,  Nice to hear from you. There is no way to fill out the "standard" business income worksheet for a bank. A bank's finances just dont match up with such a form. It's why I rail against … [Read more...]

Silly Story to Explain Loss of Business Income Insurance

I'm finishing up the final draft for the second edition of Simmonds on Bank Insurance. (I've been saying that now since 2011.) My editor laughed at my story about loss of business income - then admitted it was effective! Pretend you own a goose (a building). Your goose lays golden eggs (cash flow). If your goose is run over by a truck, it’s … [Read more...]