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Policy Issues: Singing the praises of tailors in an off-the-rack world

SEVERAL questions have popped up on my e-mail radar lately, arguing for or against the idea of placing the coverages of a single account (either personal-lines or commercial) with multiple carriers. Judging from the questions and various arguments

By Chris Amrhein | Updated on January 31, 2006

SEVERAL questions have popped up on my e-mail radar lately, arguing for or against the idea of placing the coverages of a single account (either personal-lines or commercial) with multiple carriers. Judging from the questions and various arguments pro and con, I have to conclude a lot of folks (no doubt supported by carrier-marketing hype) still believe in the “magic bullet”: that one carrier, coverage form or policy always wins the day.

“Which is the right policy for this auto-related insured, a garage policy or CGL?”“Isn’t the DOC attached to a BAC a better coverage solution for family members than the extended coverage endorsement attached to the PAP?”“A tenant should cover his lease-based assumption of risk for building damage under a single policy in which the landlord is named as an insured–right?–rather than have the landlord and tenant each cover it in separate policies.”It seems agents always are searching for the “Holy Grail,” a simple, incontrovertible answer for all complex coverage questions. And in truth, there is such an answer. It cuts through the clutter and gets right to the heart of the matter. That answer is: It depends.

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