Virtual University

One of the greatest myths in commercial property (and homeowners) insurance is that, in order to recover on a replacement cost basis, not only must the building be replaced, but…

One of the most difficult insurance concepts to explain to insureds is coinsurance. To assist you, there are several VU articles listed below that should be helpful. In addition, John…

Much has been written about trees and homeowners policies but what about commercial lines forms? Do they cover trees differently than personal lines forms? And what about the business income…

In the event of partial losses, the limit of insurance is usually adequate to include the cost of debris removal. However, in some cases, the limit might not be adequate…

With increased costs in this hard market, many insureds want to reduce their premiums. One way to do that is through the use of deductibles. But, how large a deductible…

An insured had an open lot business and stored a substantial amount of business personal property (BPP) in an enclosed shed. They did not insure the shed. Thieves stole $5,000…

This is Part 1 of 2 from my Agent & Broker magazine column that generated the most “fan mail” of any columns I’ve written over the years. If you use…

This is Part 2 of 2 from my Agent & Broker magazine column that generated the most “fan mail” of any columns I’ve written over the years. If you use…

You’d think after 100+ years of application that coinsurance questions would rarely arise. However, few commercial property provisions are debated more often than coinsurance. In this article, we’ll take a…

The building is currently insured for replacement cost. The insurer did a new valuation and said the policy limit is 70% of the RC value, which would result in a coinsurance penalty…