ISO's 2017 Commercial Property Changes
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS
October 24, 2017
1:00 p.m. to 2:30 p.m. Eastern Time ~ CE is not offered for this webinar.
Effective September 1, 2017, Insurance Services Office (ISO) filed several important commercial property changes. As part of this filing, ISO:
- Broadened coverage in the CP 10 30 Cause of Loss -Special Form;
- Expanded coverage options for tenants required to insure the landlord's property;
- Tightened down on the protective safeguard requirements – narrowing coverage;
- Opened up several new options for utility services coverage for the business income form;
- Gave building owners a GREAT new option for their building code (ordinance or law) exposure; and
- Introduced a new ordinance or law endorsement specifically for tenants.
These six changes promise to have a major impact on your clients and the options you can offer them. Some changes are welcome, you want to point out these new benefits to your insureds. However, a few changes are NOT in our client's best interest – you must be able to warn your insureds of these new problems (or know how to avoid them).
The policy changes introduced in this filing WILL affect your commercial property clients both positively and negatively. Because of the major effects of these seemingly few changes, you'll want to participate in this webinar.
*Webinar transcript will be emailed to all registrants within four weeks of the live event