Virtual University

“Dagger” or Plus Symbol Classes: What They Mean

Nearly 40 percent of Insurance Services Office’s (ISO’s) general liability class codes are, what some call, “dagger” codes. Currently, 474 of ISO’s general liability class codes are “dagger” classes. A “dagger class” or “plus sign class” indicates that Products and/or Completed Operations coverage is included as part of and not separate from the Premises/Operations coverage. All a “dagger” classification does is rearrange where the products and/or completed operations coverage is found.

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Understanding Products Liability and Product Warning Labels

“A traditional axiom of products liability law is that a manufacturer or supplier of goods has a duty to warn of any danger from the intended or unintended but reasonably foreseeable use of its products. This duty extends to those using or purchasing the product, as well as to those who could reasonably be expected to be harmed by its use.” But sometimes, manufacturers just go too far.

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What Does an Agent Owe a Certificate Holder?

Do agents owe any duty to a certificate holder? Opinions differ. Given the reality of the COI, its intended purpose and the parties to the various contracts related to a construction site, agents have very little duty to the certificate holder beyond honesty.

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Are HIPAA Claims Covered by the CGL (and Other Policies)?

If you or your insureds are sued under HIPAA, do traditional P&C policies provide any coverage? At this point in time, no one really understands all of the possible ramifications of HIPAA nor the potential claims exposure. One thing we do know, though, is that it's likely that very few traditional insurance products will do the job.

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Discontinued Operations

This article is about the often misunderstood exposure of discontinued operations.

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Insuring Commonly Owned Entities...One or Multiple CGL Policies?

A question that has been coming up in our 'Ask an Expert' service periodically since at least 2001 involves the best way to insure two or more entities or locations under common ownership. Is it better to put them all under one theoretically more manageable CGL policy or should each have its own policy? See what our volunteer faculty members have to say and offer your two cents if you like.

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Is It a CGL or an E&O Claim?

OK, pull that CGL policy out of your top desk drawer...we know it's there because you use it as a placemat for those two (six if your name's Lou Farringer) Krispy Kreme's you wolf down every morning at work. Got it? OK, then, here's a pop quiz. You have three hours to complete it. Ready? Here's the quiz: Find the professional liability exclusion in the CGL. (Three hours pass...sure flies by when you're having fun, huh?) What?! You didn't find it? Surely it's there somewhere...heck, even the ISO Homeowners forms have one. Give up? Then read on....

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Occurrence vs. Claims-Made...Which is the Best Value?

An agent advised that his state had enacted legislation requiring licensed contractors to carry liability insurance. CGL premiums for small contractors from his markets range from about $4,000 to $6,000. However, some agents are aggressively marketing claims-made CGL policies for only $1,500. The question is, 'Which policy—occurrence or claims-made—is the better value?'

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The CGL Professional Liability 'Exclusion'

Unlike the simple ISO HO policy, the ISO CGL policy has no specific professional liability exclusion. As a result,sometimes it can be difficult to determine whether a claimis an 'occurrence' and covered by the CGL or an 'act, erroror omission' and not covered. In this article, we'llexplore this issue and include a dynamite download from anattorney who has examined the legal precedents.

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Top 10 Most Significant Insurance Court Cases

Since 2001, attorney Randy Maniloff has published his annual review of the top ten most significant insurance coverage court cases. Below is a menu of these articles, each downloadable in Adobe Acrobat (PDF) format.

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