| |  | | Special Feature - COVID-19 * Contractual Risk Transfer / Additional Insureds / Certificates of Insurance * Businessowners' Policy * Personal Auto Issues * Trends & Insights * Insurance Laws and Statutes / Coverage Resources
* * * * Please note, the next edition of Insurance Illustrated will be January 8, 2021. * * * * |
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| | Plaintiff’s attorneys are looking for any and every means possible to trigger business income coverage from COVID-related shutdowns. One method is asserting that the presence of a virus on surfaces is like smoke damage and thus causes property damage. While admirable, this, too, is a fallacious article easily defeated by two loss conditions within the policy. |
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| | Many, if not most, certificates of insurance identify one or more parties as additional insureds. However, with several hundred non-ISO AI endorsements in the marketplace, many of these forms provide significantly inferior AI coverage compared to ISO forms. So, just checking an AI box on the COI doesn’t tell anyone much of anything. So, should a copy of the actual endorsements (or other policy forms) be sent to the AIs? |
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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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| | An agent asks: A vehicle is registered to a church that provides the vehicle to the senior pastor and his wife for their personal use. The vehicle is insured on the pastor's PAP and the church is not listed as an additional insured. The pastor and his wife use the vehicle mostly for their personal use but regularly drive it when handling business affairs of the church. What is the correct way to properly insure this risk? |
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| | People who know this industry and its contracts extremely well can help establish the contractual framework that includes real world knowledge of how various contracts need to work. For example, almost no producer contracts I have read, written by attorneys with limited insurance agency knowledge (about 95% of attorneys), know the proper wording for producer compensation agreements. This little item has significant legal and financial importance. |
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| | You can download this convenient Conditional Renewal Notifications Requirements by State chart for easy reference. |
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