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…
Miscellaneous Commercial Lines
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…
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,…
Insurance History – And Maybe Some Myths and Legend
Insurance (or assurance), as we understand the concept today, is more than 700 years old. But what events shaped our modern world of insurance? Following are some interesting facts, myths,…
Condo Laws
Need help finding the condominium laws of each state? This reference gives you the condominium law, the horizontal property law, the common ownership law, or whatever it is called of…
Read the Policy You’re Selling
This may be the most important coverage article you read this year. It may be the most important coverage article you’ve ever read. Please read it. And please have your…
Coverage While Loading or Unloading Nonowned Autos
An upscale art and frame shop is insured on a BOP policy. The insured owns no autos, so there is no business auto policy. In addition, there is no hired…
Coding, Rating, and Coverage
Do you know how to code and rate commercial lines accounts? Do you understand the difference between coding, rating, and coverage? If not or you’re not sure, then take a…
Policy Form Edition Dates and Why They’re Important
One of the most frustrating types of questions received by the VU “Ask an Expert” service usually begins with, “Does ‘a’ homeowners policy cover…” or “Does ‘a’ BOP cover….” The…
Is It ISO or Is It Memorex Insurance Company?
Are you ever confused about whether a particular policy form is a pure ISO form, a modified version, or a proprietary insurer form? This article provides a three-test approach for…
