VU Resources

Danger! Watch Out for Changing Entity Types

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…

ISO’s Professional Liability Forms

Effective June 1, 2017, Insurance Services Office (ISO) introduced the new Miscellaneous Professional Liability Policy (MI 00 01) along with a multitude of endorsements. This is the first in a…

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The Pimping Economy

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…

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Back to Basics – How Does a ‘Person’ Become Legally Liable?

Liability policies, whether the HO, PAP or CGL, respond when the insured is judged to be “legally liable” for the injury or damage. But how is “legal liability” determined? That…

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Additional Insured Status and Self-Insured Retentions Revisited

Does the CGL extend coverage to an Additional Insured on a primary and noncontributory basis when the lower tier contractor (the named insured) utilizes a self-insured retention (SIR)? Well, yes…

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3 Factors Negatively Impacting the Insurance Marketplace

Three distinct phenomena negatively impact the commercial and, to some extent, personal insurance marketplace: The Winner’s Curse, Submission Bias, and Overconfidence. These phenomena are explained in an international whitepaper titled,…

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‘However’ – the Word that Neutralizes the ‘Absolute’ Pollution Exclusion

Amazingly claims adjusters still believe the commercial general liability’s (CGL’s) “absolute” pollution exclusion is, in fact, absolute. Bizarre stories abound of claim denials arising out of misapplications of the exclusion.…

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Insurance History – And Maybe Some Myths and Legend

Insurance (or assurance), as we understand the concept today, is more than 700 years old. But what events shaped our modern world of insurance? Following are some interesting facts, myths,…

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