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An Educational Void that Needed to be Filled
My Thoughts Exactly is not your typical underwriting informational book; instead, the author shares her real-life stories and experiences mixed with valuable information that those in the insurance industry need to know. Why was this an important book for you to write?
Over many years as an Underwriting Specialist, I accumulated raw material consisting of hundreds of questions I had fielded. Many of the queries were asked repeatedly, by different underwriters, often with different underlying details. Clearly, there were concepts that many insurance professionals struggled to understand.
The industry sources were the go-to for questions, and during my career I was exposed to dozens of insurance textbooks. I used some for study, some for reference, and others to prompt ideas for case studies when I was training others. Some were impenetrable. That approach doesn’t work for every learner, especially for those new to insurance. I prefer to transfer information with a touch of humor and easily digestible examples. My view was that an educational void needed to be filled.
What were some ideas that were important for you to share in this book?
Three of several concepts I hope to pass along are that:
- Familiarity with Commercial Lines Rules, particularly those that apply to the General Liability line of business, is critical;
- CGL forms impact general liability exposures; going in blind is asking for a negative result; and
- Pricing the risk requires an educated view of the coverage provided as well as knowledge of controls in place.
What were some goals you set for yourself as a writer in this book?
My primary goal was to get it right. While I abhor typos, any factual errors would be untenable.
What is one thing that you hope readers take away from My Thoughts Exactly?
There is no substitute for thoughtful consideration during the underwriting process, and that requires continuous learning.
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The content is a series of gentle rants spawned by 40+ years in commercial insurance underwriting and as a General Liability product specialist. Her experiences are shared informally, using a multitude of examples, injecting humor and a fair amount of sarcasm. The stories will resonate with insurance professionals who will identify with many scenarios, and they might illuminate the path of those new to the industry.
The focus is General Liability, but other lines are acknowledged as necessary puzzle pieces to GL exposure review.
Among the broad topics are:
Named Insureds and Additional Insureds
Exposures
Classifications
Forms & Endorsements
Rates
Rules
Topics are addressed with examples, and cover a wide range of business operations to illustrate the implications of various activities. Reminders about tapping resources, such as ISO publications and experienced co-workers, are framed with the benefits of being fully aware of the pitfalls that accompany a casual approach.
The author’s ultimate goal is to encourage underwriters, agents and other insurance professionals to weigh exposures against controls, and to always engage their thought processes during risk analysis.
My Thoughts Exactly! Pithy Essays on General Liability Underwriting
My Thoughts Exactly offers a deep dive into the multifaceted realm of insurance underwriting. The book delves into intricate details like the nuanced impact of protected classes—including children and the elderly—on insurance policies. These groups often face unique risks, necessitating tailored considerations and exclusions in coverage.
One of the book’s strengths lies in its emphasis on the critical need for clarity in definitions, particularly when distinguishing between different types of insurance coverage. Premises versus product liability is one such crucial distinction. The author underscores the importance of being meticulously informed when implementing endorsements and exclusions, and they shine a spotlight on the significance of elements like timing, audience considerations, exposure evaluation, controls, and pricing—especially when underwriting for special events.
Designed predominantly with a focus on general liability, the book doesn’t shy away from discussing other essential insurance lines. It touches upon myriad vital topics, ranging from named insureds and additional insureds to classifications, forms, endorsements, rates, and rules. The author enriches these discussions with real-world examples, giving readers a tangible understanding of various business operations and their insurance implications.
What sets My Thoughts Exactly apart is its user-centric approach to what can often be an arduous task of navigating insurance textbooks. The author, leveraging a wealth of experience, intertwines the technical with the anecdotal, sprinkling the narrative with engaging tales, some of which are delightfully laced with humor and wit. For industry veterans, these stories will strike a chord, and newcomers will find them enlightening.
Written with an informal tone, the book maintains its objectivity throughout. While the use of technical terms and industry jargon adds authenticity, it may also present a mild challenge for those less versed in insurance lexicon. Nonetheless, the coherent structure and clear explanations more than compensate, making complex concepts accessible.
My Thoughts Exactly aim is clear—to equip insurance professionals and those with a penchant for risk management with the knowledge they need. It is a commendable resource that strikes a balance between detailed insight and practical applicability, making it a valuable addition to the library of both seasoned professionals and those just setting foot in the world of insurance.
Pages: 440 | ASIN : B0BSZKR8P2
LITERARY TITAN 