| |  | | | Commercial General Liability * Condominium Issues * Workers' Compensation * Miscellaneous & Professional Liability * Answering Your FAQ's |
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| | Nearly 40% of ISO’s general liability class codes are, what some call, “dagger” codes. All a “dagger” classification does is rearrange where the products and/or completed operations coverage is found. |
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| | If a commercial contractor is now doing residential work because of market conditions, watch out for a residential exclusion. |
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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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| | 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... |
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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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| | What happens with there is not enough coverage from the NFIP to cover the condo association. Do the unit owners purchase their own coverage or does the association have to purchase excess coverage? |
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| | When the work comp policy expires, it is time for the audit. As every agent knows, work comp premium is generally based on payroll; thus, the two most important questions are: 1) what remuneration is included in the audit; and 2) what remuneration is excluded from the audit? Of the two questions, knowing what payroll is excluded from the audit might be the more important information – as this is where most mistakes are made. This article lists the payroll inclusions and exclusions. |
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| | The employee decides to take his or her work “on the road” now that they are allowed to work from home – or anywhere. When the employee takes a “workcation” away from their residence, are any workers’ compensation issues created? |
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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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| | You cannot assume the entity type you insured last year is the same entity type that exists this year. When insuring small businesses, you are fighting against several unseen entities – namely accountants and lawyers. These other professionals make changes to the small business without much thought to the problems these changes can cause your client’s insurance program. |
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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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| | If you have a client written on a “claims made” policy, a polling letter can save them from an uncovered claim and you from an E&O loss. Polling Letters are rarely used, but highly valuable. Protect your client and your agency! |
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| If you can’t find an answer to your insurance question in the Virtual University's more than 18,000 pages of content, the Members’ Only Ask an Expert service is here to help.
Staffed by more than 50 volunteer faculty members with countless years of experience in the industry, Ask an Expert questions receive thoughtful and personalized answers. |
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