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.

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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…

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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,…

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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…

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