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Irene Tsounakas

Susan Upshaw

Kristen Kirby

Woody Bond

Robert Cox


WSG - E & O Coverage


Home Inventory

Understanding Rebuilding Cost
Cypress Texas Lloyds: Open for New Agents

13105 Northwest Freeway, Suite 1230
Houston, TX  77040

Volume 1, Issue 2

July 1, 2011

E & O for Insurance Agents

WSG Specialty Underwriters announce access to OmniGuard Professional Liability Program (Insurance Agent’s Errors and Omissions).  For more information, please review the WSG section under “E & O Insurance Links” on the SIM website at  For steps on how to obtain a quote, please click on the “obtain a quote and contact info”.

The E&O policy will be placed at a competitive rate with an “A 9” AM Best rated carrier.  The policy features coverage enhancements specifically designed for your exposures as an insurance agent.  As a further service to you, OmniGuard and WSG Specialty Underwriters have arranged to provide access to a series of E & O risk management articles as well as scheduling quarterly webinars focusing on this topic.

The program manager for WSG’s E & O program is Gary Cooper, Sr. Vice President –WSG Underwriters.  Gary can be reached at or by phone at 713-267-9358 with any questions.

Is Their “Stuff” Documented?

Documenting personal belongings can be very helpful in the event of a devastating loss such as a home fire and there are tools available to help you streamline the process. Being prepared with an up to date home inventory will make your claims experience  a much more efficient one.

Know Your Stuff® - Home Inventory, the Insurance Information Institute's free online home inventory software. This application makes creating and updating your home inventory easy and efficient. And with its free, secure online storage, your customers will have access to their inventory anywhere, any time. You never know when a disaster may strike, but you can be prepared with an up-to-date home inventory.

“One out of three respondents to the Pulse Survey reported that they purchased less homeowners or auto insurance as a way to save money.”  

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Do your Customers Understand Rebuilding Cost?

NEW YORK, March 7, 2011 /PRNewswire-USNewswire/ -- Too many Americans believe that the coverage limits of their homeowners insurance policy are linked to the market value of their home, according to the Insurance Information Institute (I.I.I.).

In the I.I.I.'s 2011 Insurance Pulse Survey, conducted by the Opinion Research Corporation, nearly half (48 percent) of survey respondents came to that mistaken conclusion.

"The real estate value of a home, that is the price you can buy or sell it for, has absolutely nothing to with the amount of insurance needed to financially protect the homeowner in the event of a fire or other disaster," said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I.

Following are the five biggest auto, home, flood and renters insurance mistakes consumers can make:

1. Insuring a home for its real estate value rather than for the cost of rebuilding. When real estate prices go down, some homeowners may think they can reduce the amount of insurance on their home. But insurance is designed to cover the

cost of rebuilding, not the sales price of the home. You should make sure that you have enough coverage to completely rebuild your home and replace your belongings.

2. Selecting an insurance company by price alone. It is important to choose a company with competitive prices, but also one that is financially sound and provides good customer service.

"Reducing insurance coverage because the market value of a home has decreased can result in being dangerously underinsured."

One out of three respondents to the Pulse Survey reported that they purchased less

3. Dropping flood insurance. Damage from flooding is not covered under standard homeowners and renters insurance policies. Coverage is available from the National Flood Insurance Program (NFIP), as well as from some private insurance companies.Many homeowners are

homeowners or auto insurance as a way to save money. A better strategy would be to take a higher deductible, which can substantially reduce insurance

costs. Home and car owners can then put the savings into a purchasing the right amount and type of insurance for their specific needs, pointed out Salvatore.

Another way to save money is to comparison shop, something that seven out of 10 Pulse Survey respondents said they utilized as a strategy to save on both their home and auto insurance needs.

unaware they are at risk for flooding, but in fact 25 percent of all flood losses occur in low risk areas. Furthermore with the significant snow fall this winter, spring related flooding may be particularly severe, thus increasing the importance of purchasing flood insurance.

4. Only purchasing the legally required amount of liability for your car. In today's litigious society, buying only the minimum amount of liability means you are likely to pay more out-of-pocket if you are sued—and those costs may be steep.

5. Neglecting to buy renters insurance. A renters insurance policy covers your possessions and additional living expenses if you have to move out due to an insured disaster, such as a fire or hurricane. Equally important, it provides liability protection in the event someone is injured in your home and decides to sue.

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Cypress Texas Lloyds: Open for Appointments

Cypress Texas Lloyds is open to new appointments through SIM in certain territories. Below are a few highlights of their coverage's:



  • 25 years and newer eligible
  • $75k—$500k Coverage A
  • direct bill admitted

· HO-A/HO-A+

  • 40 years and newer eligible
  • $75k - $500k Coverage A
  • Wind driven rain available

· All risks insurance scored

  • score will establish tier and coverage eligibility
  • “no hits” scored neutrally in middle range and are eligible for good HO-A pricing but not HO-3

· Capacity available statewide, including Harris county but excluding Fort Bend

Investor TDP Program

  • Targets out-of-state owners of single family homes
  • 30 years and newer eligible
  • $75k - $300k Coverage A with liability limits to $500CSL
  • New purchase discount available
  • Certified property manager discount available
  • Property management firm added as A/I for liability at no charge
  • No maximum on number of homes insured
  • Capacity available statewide, including Harris county but excluding Fort Bend

Please contact Jeff DeLoof at 713-939-9899 ext 103 or at with questions or to express your interest in partnering with this carrier.

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Is there something you want to see in the next SIM newsletter?

Send your topic suggestions to Irene Tsounakas at Look for our next issue in October!