Virtual University

Never assume the named insured owns the building. You need to ask what seems like a ridiculous question because ownership of the building may be held by another “person” related…

Bad decisions cause commercial property clients to pay higher property premiums. Sadly, the insured may not even recognize their poor choices. Worse still, agents can help clients identify their bad…

Insurance carriers often provide what is referred to as a RCP Code. The code comes from ISO data and provides a lot of information. With this code, agents have a…

COPE underwriting is the basis for commercial property underwriting and has been for nearly 400 years. Understanding Construction, Occupancy, Protection and Exposures is imperative to properly present and underwrite property…

The Agreed Value Option (AVO) is an alternative to coinsurance in the ISO Building and Personal Property Coverage Form (CP 00 10). Agreed Value can be used with buildings or…

A dock is damaged by a covered peril but the carrier denies the claim, citing the “piers, wharves, docks” exclusion. You argue that his language applies to permanent docks, not…

A surveyor’s equipment was stolen while on a job site. The adjuster denied the claim under the CP 00 10 Property Off-premises coverage, citing the exclusion for such property while…

A prospect’s lease requires that the tenant (him) be responsible for only the heating and air conditioning system (HVAC) under a provision that the tenant “maintain, repair and replace” the…

Your insured leases (all or a part of) a building and the lease makes him responsible for damage to the HVAC equipment. The lease might also make him responsible for…

A toilet overflows in a 4-story frame condo building and causes damage to structural components on all floors. Does the ISO CP 10 30 Special Causes of Loss cover this?…