Business Income Policy Has Two “Loss Periods”
Business Income is the most important property coverage. The problem is, some agents only do half the job when protecting the insured’s income loss exposure. There are two loss periods…
Commercial Lines
Key Information for Interpreting the Work Comp Experience Mod Worksheet
The National Council on Compensation Insurance’s (NCCI’s) Workers’ Compensation Experience Rating worksheet looks daunting at first. But once all the acronyms, shorthand and calculations are understood – it can be…
Back to Basics – How Does a ‘Person’ Become Legally Liable?
Liability policies, whether the HO, PAP or CGL, respond when the insured is judged to be “legally liable” for the injury or damage. But how is “legal liability” determined? That…
Insured Status is VERY Complicated – Until You Understand It!
If the person or entity causing injury or damage to a third party is NOT an insured in the policy, guess what – there is NO coverage. Who is an…
Additional Insured Status and Self-Insured Retentions Revisited
Does the CGL extend coverage to an Additional Insured on a primary and noncontributory basis when the lower tier contractor (the named insured) utilizes a self-insured retention (SIR)? Well, yes…
Three Workers’ Compensation Endorsements Every Agent Should Know When to Use
Workers’ compensation is simple, it provides sole remedy protection for the injured worker. The difficulty in work comp arises from state and federal laws and non-traditional employer/employee relationships. This article…
Your Client is Moving its Work Comp to a PEO
Your client decides to move its workers’ compensation coverage to a PEO, you need to know the answer to three questions: 1) What does the PEO do for my client?…
3 Factors Negatively Impacting the Insurance Marketplace
Three distinct phenomena negatively impact the commercial and, to some extent, personal insurance marketplace: The Winner’s Curse, Submission Bias, and Overconfidence. These phenomena are explained in an international whitepaper titled,…
I Bet the Named Insured Doesn’t Own the Building! Have You Asked?
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…
‘However’ – the Word that Neutralizes the ‘Absolute’ Pollution Exclusion
Amazingly claims adjusters still believe the commercial general liability’s (CGL’s) “absolute” pollution exclusion is, in fact, absolute. Bizarre stories abound of claim denials arising out of misapplications of the exclusion.…
