| | | | During this pandemic panic™ the most common question asked of agents dozens of times every day, “Does my business income policy cover the shutdown mandated or recommended by the government?” The short answer is, no. But you need more detail than that; so here you go. |
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| As of this writing 38 states and countless cities and counties have enacted some form of stay-at-home order amid the pandemic panic arising from COVID-19. If the operation is not considered an “essential” business, its doors are shut - for now. How long such orders will or even can stay in place is anyone’s guess. |
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| Does having friends over during a state-mandated stay-at-home order create any insurance issues regarding COVID-19? What about when it’s over? These sound like weird questions. As weird as the questions sounds, the answer may be weirder. |
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| The economic disruption caused by COVID-19 has left millions of people unemployed—at what many say is the highest rate since the Great Depression. In considering the future, those who’ve lost their jobs may think about starting a home-based business as the crisis eases or perhaps working more independently. This could create an expansion of the micro-business market—businesses with few or no employees that often operate out of homes or shared spaces. |
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| Insurance Services Office (ISO) has introduced four new earth movement exclusions with effective dates of 12/1/19. Three are designed for use with the commercial general liability (CGL) coverage parts; and one is for use with the owners and contractors protective liability (OCP) coverage part. These are extremely dangerous endorsements if used improperly. |
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| 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. Some accounts are myths and legends, but some are all too real. This article details the “howevers” in the CGL’s absolute pollution exclusion that makes it anything but absolute. |
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| Decisions addressing the applicability of exclusions j.(5) and j.(6), given their often fact-intensive nature, are sometimes complex. But not MTI, Inc. v. Employers Insurance Company, No-17-6206 (10th Cir. 2019). It is simple and clearly explained. And that’s why the decision could become a go-to one for courts confronting the double Js. |
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| Before reviewing the exclusions, exceptions, and exceptions to exceptions, you must confirm the loss even qualifies for coverage based upon the grant of coverage found in the insuring agreement. |
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| 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 or any previous owner? Second, should the unit owner’s mortgagee be added as an additional insured or mortgagee on the association’s master policy? And lastly, how should agents respond when the mortgagee is requiring Coverage A limits equal to the loan amount? |
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| An HO-6 condo form includes only Coverage A and C for direct damage to property…that is, no Coverage B. What if the insured owns a structure not attached to the unit? Can it be insured and, if so, how? |
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| Additional Living Expense is specifically limited in the HO policy; however, at least one group that undertakes to provide “expert” opinions believes that there is no limit. Be careful the advice you take and read the policy yourself rather than depending on others. The E&O claim you avoid could be your own. |
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| Small businesses are facing problems when buying a commercial auto for business use – banks often require the business and the business owner’s name be on the title. This has the appearance of creating coverage problems, but none really exist. However, to avoid any question or appearance of a coverage gap, the agent can take specific steps to avoid improper denials. |
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| Some businesses may have substantial values in equipment that is used while attached to an auto. Can this be covered under the physical damage section of a Business Auto Policy and, if so, how? |
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| Personally-owned autos belong on a personal auto policy (PAP), but occasionally a commercial insured intentionally or unintentionally includes one or several personally-owned auto(s) on its business auto policy (BAP). Commercial clients may do this for one of many reasons; but when a commercial client intentionally or unintentionally includes a personally-owned auto on the BAP, the agent must ascertain the legitimacy of the vehicle’s inclusion on the BAP. The primary goal of this article is to allow agents to answer the question, “When is the inclusion of a personally-owned auto on the BAP legitimate and proper?” |
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| Agents very rarely experience an employers’ liability claim; but this does not mean this important gap-filling coverage should not be understood. There are employee-related gaps in the commercial general liability (CGL) policy and the workers’ compensation (WC) policy that make this coverage a necessity. This primer allows a much clearer understanding of this important yet neglected coverage. |
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| 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 addresses three workers’ compensation endorsements every agent must understand and know when to use. |
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| Constant debate swirls around the difference between independent contractors and employees. It seems that every contractor wants everyone to believe that everyone on the job site is an independent contractor; but we know that’s not true. Use these 17 “tests” to differentiate between a de facto employee and a true independent contractor. |
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| Many insureds receive an increase in benefits when a health insurance policy adds prescription coverage to the benefits that had already been granted. Other insureds may be surprised to find that the addition causes an increase in their out of pocket expenses rather than an increase in coverage. For example.... |
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| A business owner may be surprised to learn that a small loss to business property ends up with a much larger loss of income. That problem may be solved with a Business Interruption type of coverage. What is often overlooked is the problem that occurs when the business owner is disabled for a short time. |
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| As tough a sale as it is, life insurance can be sold. A far tougher sale is disability insurance. Most prospects do not understand statistically how likely they are to be disabled vs. deceased. This article provides some of those statistics, along with some coverage considerations! |
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| Download this convenient over insurance statutes by state chart. |
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