| | | | Commercial General Liability * Condominium Issues * Workers' Compensation * Trends & Insights * Insurance Laws & Statutes / Coverage Resources * Answering Your FAQs |
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| A commercial prospect rents space at a warehouse and his current agent tells him that the fire damage legal liability coverage on his CGL policy covers him there. The prospective agent believes that the CP 00 40 Legal Liability Coverage Form is superior. Who is right…or are both wrong? |
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| Most general liability coverage cases, that address whether “property damage” has taken place, focus on the “physical injury to tangible property” aspect of the definition. You can see that a building is no longer standing or that water intrusion has caused damage. On the other hand, whether there has been a “loss of use” of property can be more esoteric. So, between “physical injury” cases being more common, thereby providing more guidance, as well as involving a more easily identifiable injury, it is not surprising that “loss of use”-based “property damage” cases can be challenging. |
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| There is an entire generation of insurance agents who are totally unaware that insured status has not always been extended to Trusts and volunteer workers in the commercial general liability (CGL) policy. After all, these entities and individuals were first granted insured status near the turn of the century, way back in the 2001 edition of the CGL. But these additions initially applied only to the CGL forms (CG 00 01 and CG 00 02) and none of the other liability coverage forms. Now agents have the option to extend insured status to Trusts and volunteers in other liability forms. |
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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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| Individuals who live in or own homes in a home association face increased financial risks from assessments. Personal lines policies cover some of the assessments, but increased limits of loss assessment coverage should be purchased where available, and individuals who live in a HOA should have their policy endorsed to include personal injury liability claims. |
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| Can a condo association assessment for a deductible be paid by the HO policy without the entire association being assessed? An agent reports that one company will not pay unless the entire association has been assessed even if it is written into the by-laws that a single unit owner may be responsible for the association deductible. |
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| The National Council on Compensation Insurance’s (NCCI’s) Workers’ Compensation Experience Rating worksheet looks daunting at first. But once all the acronyms, shorthand and calculations are understood – it can be appreciated for the thing of beauty that it really is (OK, maybe that’s a bit of hyperbole). Grab a copy of the X-Mod Worksheet and let’s learn how to interpret it. |
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| On any given day in the United States, perhaps 500,000 injured workers are under treatment for chronic pain; a great majority ingest opioids. There may well be 100,000 injured workers on long-term opioid treatment, some extending over two decades. But the use of opioids seems to be dropping. |
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| Like work-related bodily injuries, illnesses, sicknesses and diseases must be considered “occupational” to be covered by the workers’ compensation policy. Before an illness or disease can be considered occupational and thus compensable under workers' compensation two tests must be satisfied: 1) The illness or disease must arise out of and be in the course and scope of the employment; and 2) The illness or disease must arise out of or be caused by conditions “peculiar" to the work. |
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| Ownership, or rather the desire to own, is changing. More and more people see less and less the need to own something they don’t use on a regular basis. As the saying goes, “I don’t need a drill, I just need a hole.” The insurance industry needs to prepare for this shift in attitude and desire. |
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| According to the experts, our industry is in almost immediate need of nearly 400,000 new workers due to retirements and other transitions. However, many hiring managers say the industry is having the same problem it has always had – insurance is not sexy. Well, I beg to differ! Insurance is the sexiest profession out there! |
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| Being offended is a personal choice; political correctness tries to keep change from occurring; and people who preach tolerance generally aren’t. Our society is in need of more adults who don’t need protection from the opinions, statements and beliefs of others. |
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| 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 every state. Useful – and needed - whether you insure the association or the unit owner. |
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| An agent asks: We hired a new personal lines manager and realized we never developed any homeowners' charts; do you have any you can share? |
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