Tow Program Forms Update
We want to share an important update to the KBK program that will help ensure we remain a strong, long-term and profitable solution for you in the marketplace.
Effective 4/1, KBK will be adding an Unlisted Driver Exclusion Form endorsement to all policies in states where the endorsement has been filed and approved. This endorsement is already widely used by many other programs in the marketplace and further limits Who Is An Insured and when coverage applies.
The endorsement will apply to all new business and renewal quotes effective 4/1 in the following states:
- Alabama
- Arkansas
- Delaware
- Florida
- Georgia
- Idaho
- Illinois
- Iowa
- Kentucky
- Louisiana
- Maine
- Maryland
- Mississippi
- Montana
- Nebraska
- Nevada
- New Jersey
- New Mexico
- North Carolina
- Ohio
- Oklahoma
- Oregon
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Utah
- Washington
- West Virginia
- Wisconsin
- Wyoming
Additional states will be added as approvals are received.
If you would like a copy of the endorsement or have any questions about how this may impact your accounts, please reach out to your KBK underwriter or contact us directly.
We appreciate your continued partnership.
3 Strategies to Improve Your Insurance Protection
The insurance marketplace hasn’t exactly been a walk in the park for body shop owners. With many large carriers exiting this market, shop owners may have some concerns about finding the right coverage for the many risks they encounter on a daily basis:
- Will my shop have the proper protection?
- How can I find a competitive rate?
- Will I have support if I face a claim?
While it may be true that some carriers are pulling back, that doesn’t mean their unique risks will go unprotected — they may just need to tune up their existing insurance strategy.
In this article for Body Shop Business, KBK Program Director Brian Atkinson shares three strategies for improving body shop operations and setting shop owners up for success in 2024.
Read the full article here.
Subcontractor Misconceptions
Welcome to Wayne’s Claims World!
In this series, we share information on claims trends as well as tips and resources for our KBK insureds to better protect themselves if they have a claim. This month, we’re exploring subcontractor misconceptions.
As the labor market continues to evolve, we are seeing more companies — including those in the towing industry — leveraging subcontractors to fill their employment needs. This is largely because it is hard to find qualified, full-time employees in this current climate.
Did you know…
In the past 18 months, we have seen an increase in claims for subcontractors on tow accounts.
There are misconceptions out there about whether using subcontractors does or does not impact the insured’s policy. The biggest misconception is that subcontractors’ personal insurance policies would take care of any coverage needs.
Learn more about the subcontractor trend and how it can impact your client’s insurance policies in this month’s issue. You’ll find out why it’s a best practice for insureds to employ full-time W-2 employees for their towing operations.
Agents, this is an important conversation to have with insureds for both renewals and new business!
Disclaimer: The information and recommendations in this blog are not legal advice and are not intended to constitute legal advice. If anyone reading any part of this blog believes that they want legal advice or need legal advice, they should seek legal counsel with lawyers who are licensed to practice law in their State. The recommendations in this blog are for general informational purposes only.
As a benefit of partnering with KBK Insurance Group, Wayne is available as a resource to help agents and their insureds at any time! Wayne can assist in many ways, from reviewing manuals to visiting a site to discuss loss mitigation.
Wayne King
[email protected]
(860) 707-6273
Hurricane Preparedness
Welcome to Wayne’s Claims World!
In this series, we share information on claims trends as well as tips and resources for our KBK insureds to better protect themselves if they have a claim. This month, we’re diving into an important and timely topic — hurricane preparedness.
September begins the height of hurricane season. This can be a stressful time for insureds as they brace for intense storms with the potential for flooding and winds that can damage their property and vehicles.
This is especially relevant for tow truck operators, as their trucks may be utilized to tow disabled vehicles out of flooded areas. What’s more, businesses offering repairs or used car sales are likely to store vehicles on their property that may be exposed to the elements and put at risk of damage or loss.
Hurricane preparation is the key to avoiding or minimizing costly claims. Now is the perfect time for agents (and your insureds) to review the important steps to take before, during and after a hurricane — as well as what to do after a loss occurs.
In this issue:
What to Do Before a Hurricane
- How to Compile a Business Inventory Checklist
- Six Tips to Help Prepare Your Business for a Hurricane
What to Do During a Hurricane
- Five Tips for Staying Safe
- Generator Safety
What to Do After a Hurricane
- Dangers to Avoid
- How to Assess Damages
- How and When to File a Claim
Agents, if your insured suffers damage to their property as a result of a storm, please inform us immediately. Submit claims to our TPA, North American Risk Services (NARS), via email at [email protected]
Check out Wayne’s Tips for Hurricane Preparedness
Disclaimer: The information and recommendations in this blog are not legal advice and are not intended to constitute legal advice. If anyone reading any part of this blog believes that they want legal advice or need legal advice, they should seek legal counsel with lawyers who are licensed to practice law in their State. The recommendations in this blog are for general informational purposes only.
As a benefit of partnering with KBK Insurance Group, Wayne is available as a resource to help agents and their insureds at any time! Wayne can assist in many ways, from reviewing manuals to visiting a site to discuss loss mitigation.
Wayne King
[email protected]
(860) 707-6273
Claims Trends: Key Differences for Electric Vehicle Handling & Storage
Welcome to Wayne’s Claims World!
In this series, we share information on claims trends as well as tips and resources for our KBK insureds to better protect themselves if they have a claim. This month, we’re diving into an important and timely topic — electric vehicle handling and storage.
With the electric vehicle trend continuing to gain momentum, towing operators, repair shops and salvage operations need to understand the differences and added risks for towing and repairing these vehicles compared to gas-powered vehicles. If not handled properly, it can lead to costly claims for the insured!
Here is a snapshot of the guiding principles:
- Know your local regulatory requirements regarding who is responsible for disconnecting the batteries after a loss — in many states, this should be done by emergency responders
- When storing an electric vehicle, make sure to place it away from buildings or other vehicles, if at all possible
Agents, make sure your insureds are aware of this information, as it not only relates to claims and cost savings but also their personal safety.
Check out Wayne’s Information & Resources
Disclaimer: The information and recommendations in this blog are not legal advice and are not intended to constitute legal advice. If anyone reading any part of this blog believes that they want legal advice or need legal advice, they should seek legal counsel with lawyers who are licensed to practice law in their State. The recommendations in this blog are for general informational purposes only.
As a benefit of partnering with KBK Insurance Group, Wayne is available as a resource to help agents and their insureds at any time! Wayne can assist in many ways, from reviewing manuals to visiting a site to discuss loss mitigation.
Wayne King
[email protected]
(860) 707-6273