ISO’s 2017 Commercial Property Changes
Insurance Services Office (ISO) filed several important commercial property changes effective September 1, 2017.
Commercial Lines
Does Invoking the ‘Insurrection Act of 1807’ Affect Property Coverage?
Rocks being thrown by President Trump are causing major ripples in the insurance pond. His declaration that ANTIFA would be labeled a terrorist organization raised questions regarding whether coverage would…
Do the Acts of “Terrorists” Trigger the Terrorism Exclusion?
Protests, civil disobedience, riots, and looting followed the death of George Floyd under the knee of a Minneapolis police officer. Might the terrorism exclusion apply to any damage caused during…
How Many Different ‘Values’ Can Property Have?
Property can be assigned many “values” depending on the purpose of the valuation and who is valuing it. But insurance is concerned with only four options: actual cash value, replacement…
Are You Overlooking a $25,000 to $500,000+ Property Exposure?
A mural is a very real insurance exposure, and a very popular addition to many both public and private commercial buildings and residences. One underwriter reported writing $500,000 coverage on…
Improper COPE Information Costs Billions – for More Than Just the Insurance Carrier!
Commercial property underwriters have utilized essentially the same information for nearly 400 years: Construction, Occupancy, Protection and Exposure. Known to us mortals as “COPE.” When the correct COPE information is…
DOPE Excludes Stupidity
Departments of Insurance across the country are bracing for the introduction of new commercial property policy language promised by the newly-formed property insurance bureau the Dominion of Organized Property Exchanges…
Murals Revisited
If your client has a mural on the inside or outside of the building, how do you cover it? Is it covered by the property policy? Is there any special…
A Word About Murals
If your client has a mural on the inside or outside of the building, how do you cover it? Is it covered by the property policy? Is there any special…
Valued Policy Laws: What is a “Valued Policy”
Valued policy laws require the insurance carrier to pay the face amount of the policy if the structure is a “total loss.” In these situations, it does not matter if…
