Church-Owned, Pastor Insured: Is This Correct?
An agent asks: A vehicle is registered to a church that provides the vehicle to the senior pastor and his wife for their personal use. The vehicle is insured on…
Insurance_Illustrated
“Dagger” or Plus Symbol Classes: What They Mean
Nearly 40% of ISO’s general liability class codes are, what some call, “dagger” codes. All a “dagger” classification does is rearrange where the products and/or completed operations coverage is found.
Deleting a Car and Cancelling a Homeowners’ Policy
The client calls and tells you they have sold or traded in their car. Do you delete coverage that day? Be careful. What about if the insureds have sold their…
Dad Hitches His Trailer to His Daughter’s Auto…Uh Oh
A father’s nonresident daughter borrowed his camper trailer to be hauled by her SUV. Dad hooked the vehicles up. While the trailer was being towed, it somehow became uncoupled, and…
CGL Fire Damage Legal Liability and Higher Limits
An insured who is leasing a building or space in a building is being required by the landlord to carry $1M in “fire legal” coverage. The insured’s CGL insurer will…
Five Important Questions to Ask an Agent About Your Insurance Coverage
A freelance journalist was working on a story about what questions a consumer or business owner should ask when buying insurance. She was seeking five questions each from several insurance…
What is “Vacant Land”?
The ISO HO policies automatically include coverage for vacant land as part of the definition of “insured location.” But what constitutes “vacant land”? Does a water pump, abandoned building foundation,…
What is “Total Cost” as a CGL Premium Basis?
The ISO CLM specifies how a subcontractor exposure is to be charged, depending on whether the subcontractor is adequately insured or not. If adequately insured, premium is calculated on a…
