Skip Ribbon Commands
Skip to main content
FacebookTwitterYoutube
for the week of July 10, 2020

Education + Analysis for the Independent Agent

Subscribe
News & Filings from ISO - Commecial General Liability - Condominium Issues - Businessowners' Policy - Personal Auto Issues - Insurance Laws & Statutes - Answering Your FAQs
Information Emergence Lag and Wrong Signaling – Going Viral
What do a camp shower, too little hot water, and a prankster have to do with the reopening challenges posed by #COVID19?  This article by actuary John Buchanan, FCAS, MAAA, will help you understand this and other issues, and help you go through the very delicate and important balance of social responsibilities and the economy.
Adjusters are CRAZY! Improper Use of the Pollution Exclusion Puts One Insured out of Business
The “absolute pollution exclusion” may be the most misunderstood and misapplied exclusion in ISO’s commercial general liability policy. Carrier are misapplying for one of two reasons: 1) they really don’t understand it; or 2) they are looking for a way to deny a claim. Either way, shame on them for torturing the policy to affect an improper decision.
CGL Policies Don’t Cover Auto Accidents…Or Do They?
Your insured has BAP Symbol 9 nonowned auto coverage which extends coverage to the named insured while employees use their autos on business. However, what if the named insured uses independent contractors who operate their own autos…is the named insured still covered? What if the named insured only has a CGL policy?
CGL Care, Custody and Control by Contractors
You insure a residential painting contractor. Many of his customers give him access to their homes when they are not around. What if he damages the premises while having sole access to the home? Does the ISO CGL policy’s “CCC” exclusion apply?
Insuring “Other Structures” on HO-6 Condo Policies
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?
Hurricanes and Homeowners Association Loss Assessments
Many homeowners are just now being assessed by their homeowner or condo associations for losses that occurred in 2005 due to master policy exclusions, deductibles, or inadequate limits. Some insurers claim that the policy that responds is the one in force at the time of the hurricane damage. Under the ISO HO-3, that's wrong and here's why....
Homeowners' Associations
It’s very unlikely that many purchasers of a townhome or a stand-alone home in an association ever consider the insurance implications of such purchases. Only when it’s time for the agent to provide coverage, does the issue surface. This article examines some of the insurance aspects of owning homes in a homeowners’ association, including situations where residential property is often improperly insured to the extent that a serious E&O exposure is presented.
Does the ISO BOP Cover Undescribed Structures?
The ISO Commercial Property form, CP 00 10, requires that buildings and structures be described in order for coverage to attach. However, ISO’s Business Owner’s Policy only requires that the premises be described. So, as long as the “building” limit is adequate, that limit applies to all structures on the premises. However, that makes it critical that all structures and their values be considered in determining limits.
If the BOP Fits, DON'T Wear It!
Below is an "Ask an Expert" question we received involving a BusinessOwners Policy. While we attempted to address the coverage issues raised from the standpoint of the BOP, it became very clear that this risk was not suited for a BOP, regardless of whether or not the insurer was willing to issue one. While BOP's can be ideally suited for many mainstream businesses, it isn't for everyone.
BOP Not High on Cannabis
ISO introduced five new cannabis exclusions for use with the BOP policy. Two of the five are essentially “absolute” exclusions and three have a hemp exception. This article introduces and explains these new endorsements.
The PAP and College Students
Your 20-year-old daughter is away at college. She does not have a car on campus, but her roommate does and she drives the auto occasionally. Would your unendorsed personal auto policy respond if she has an accident driving the car? If not, is there anything you can do about it? You might be surprised...
When is an Auto "Furnished or Available"?
Commonly referred to as the "company car exclusion," the "furnished or available for your regular use" exclusion can apply to a lot more than that. In addition, what constitutes "regular"? For example, if you rent a car on vacation for a week, is that "regular"? How about a month-long rental? How about 90 days? At what point is the vehicle available for your regular use? In this article, we'll examine this issue in the light of several court decisions and offer a simple and inexpensive solution to the exposure.
Does the PAP Cover Engine Damage Due to Water in the Fuel?
A PAP customer’s engine was damaged by water in the fuel. The adjuster has tentatively denied the claim, citing the wear and tear and mechanical breakdown exclusions. Do you agree? If not, what argument do you make to get this claim covered…if it should be covered?
Valued Policy State List
You can download this Valued Policy State list for easy reference.
What is an Agent's Duty to Report for Claims with Only 3rd Party Knowledge?
An agent asks: An insured is under scrutiny by media and news outlets for what the reporters are alleging is improper employee terminations. The news is readily available. If the insured's agent sees that news, is there any duty on the agent's part to report the potential claim to the insurer?
image 
 
​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556
email: info@iiaba.net

Follow Us!


​Empowering Trusted Choice®
Independent Insurance Agents.