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…
Personal Lines
How Vacant is Vacant – But What if it’s NOT Vacant?
Vacant land, or what qualifies as vacant land, is a common question for the VU. Two recent “Ask an Expert” questions specific to vacant land indicated the need to address…
Ignore the Bank, Go With Replacement Cost
Everyday agents are asked, well required, by banks to provide Coverage A limits in excess of the developed replacement cost. Why are such requests made? So that Coverage A limits…
When Sweet Fifi Bites
More than one-third of homeowners’ insurance liability claims are attributable to dog bites according to a 2016 Insurance Information Institute (III) report. III reported that the average cost of a…
Back to Basics – 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,…
Auto Statutes by State
State laws vary regarding auto policies, personal and commercial. Each state prescribes its own minimum limits and other required coverages. Some state require Uninsured Motorist (UM) and some states require…
Why You Should Teach Your Client’s Kids About Insurance
Most people, including your clients, are insurance illiterates. Their limited understanding of insurance comes from the commercials they see on TV and the misinformation they “hear on the streets.” Insurance…
Condominiums Revisited
This piece answers three condo questions for unit owners. First, when the unit owner is responsible for insuring unit improvements and betterments, is this limited to improvements made by them…
Insuring a ‘Box of Air’
Although the unit owner doesn’t own the entire structure, they may have responsibility for insuring some “real property” elements that are part of the building. And the only way to…
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…
