Actual loss sustained business income means no worksheet, no coinsurance and no dollar limit. Derek walks through four considerations for brokers (time period, extra expense, coinsurance, and burden of proof), plus three carrier realities, including why ALS often costs more than a stated limit. A practical listen for brokers, buyers and carriers who quote or buy business income coverage.

Buyers are CFOs, so talk like one. Derek walks through payback period as a simple, consistent way to evaluate deductible and SIR changes. Under five years is generally worth it; over five, the premium savings don’t justify the extra risk. He runs two property examples ($10K to $25K deductible, $5,000 vs. $2,500 in savings) and explains why you should quote multiple deductibles on every account, even in a soft market. Short, practical, and easy to use on your next renewal.

I spent the summer on an apology tour, meeting former customers to apologize for my disruption. What they told me had nothing to do with price or coverage. They missed my opinion.

In this episode, I break down why brokers practice insurance and why that means taking a position, putting it in writing, and defending it. I walk through the premium summary format I used at every renewal: expiring, renewal, and a third column with my recommended program. You’ll hear how I use payback-period analysis for deductibles, how I approached wind/hail and umbrella conversations, and why raising new coverages mid-year is expected, not pushy.

If you’re a broker who wants to be an advisor instead of a quoter, or a buyer who wants to know what to expect from yours, this one’s for you.