| |  | | | Business Auto * Business Income * Homeowners' Insurance * Insurance Laws & Statutes/Coverage Resources * Special Features |
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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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| | “An” insured does not equal “the” insured in any policy; however, carriers like to broaden the meaning of “an” insured in the BAP care, custody or control exclusion to make it equal to “the” insured so it can deny claims that should not be denied. You may have experienced this in your own office. |
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| | Lawyers make life interesting for the insurance industry. Often we outsmart them by creating endorsements to satisfy a request that, in effect, really do nothing other than make the lawyers feel good. That’s the effect of these two endorsements. |
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| | An agent asks: Several of my clients’ have suffered damage as a result of the riots in the area. However, prior to the riots they were already closed as a result of state-wide COVID-19 closures. How will the business income policy respond? Will loss payment be affected by the previous closure order? |
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| | Now through April 23, access this 57-page Big "I" Virtual University Risk & Reality Report where author Chris Boggs teaches you the hardest lesson surrounding business income - how to complete the business income worksheet (CP 15 15). |
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| | Business income coverage responds only when certain conditions are met. Simply losing business income is not enough to trigger coverage. This article explores the conditions that must be met using a water contamination incident in Corpus Christi, TX as the backdrop. |
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| | Not to be overly dramatic, but ordinance or law is a very real personal lines exposure - often overlooked during the personal lines risk management and insurance planning process. Agents must explain the exposure, the coverage limits and the options. This article lays out the coverage, the problems and the options. |
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| | Now through April 23, view this two part series dedicated to the HO policy free of charge. Sessions include Understanding the HO’s Three Trust Endorsements and How Does a “Person” Become Legally Liable. |
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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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| | You can download this Duty to Defend: What the Courts Say list organized by state for easy reference. |
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| | COVID has affected many areas of life in the US, one is the cost of building materials. Regardless the reason, the cost to rebuild a structure has increased dramatically over the last year. Are you addressing this increased replacement cost issue? |
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| | ISO’s Commercial Property Conditions (CP 00 90) gives the insured up to two years to file suit against the insurance carrier. Should the agent advise their insured on this limitation? The answer might surprise you. |
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