Do agents owe any duty to a certificate holder? Opinions differ. Given the reality of the COI, its intended purpose and the parties to the various contracts related to a construction site, agents have very little duty to the certificate holder beyond honesty.
Practice the insurance profession long and you begin to hear and learn various legal liability terms ranging from the basic ideas of “negligence” and “torts” to more specific concepts like “compensatory damages” and “superseding events.” Occasionally, though, we are still surprised by what the lawyers have created – weird legal theories that can’t possibly exist.
Berkshire Hathaway announced the release of its new small business policy, THREE, on February 11, 2019. In response to this announcement, the VU published its critique of the policy on March 1. Insurance Journal republished the VU’s analysis in late March, but with a twist. IJ’s article contained a survey to ask the industry’s opinion…
Fatal work injuries in the United States dipped slightly in 2017 to 5,147 from the 5,190 fatal injuries reported in 2016 according to the U.S. Bureau of Labor Statistics. Likewise, the fatal injury rate decreased to 3.5 per 100,000 full-time equivalent (FTE) workers in 2017 down from 3.6 per 100,000 in 2016.
Decisions addressing the applicability of exclusions j.(5) and j.(6), given their often fact-intensive nature, are sometimes complex. But not MTI, Inc. v. Employers Insurance Company, No-17-6206 (10th Cir. 2019). It is simple and clearly explained. And that’s why the decision could become a go-to one for courts confronting the double Js.
Warren Buffett introduced the newest insurance disrupter – the THREE. As the name suggests, this is a three-page insurance policy intended for small businesses. If that isn’t amazing enough, this policy combines seven different coverages into its three pages. So, what is the problem? Well, there are many problems that will victimize an unsuspecting insured.
Over the past few years liability insurers have been adding endorsements to attempt to limit their exposure for bodily injury claims on construction sites (not to mention for property damage). One way that insurers have attempted to limit such exposure has been to amend their CGL policy’s “employer’s liability” exclusion to preclude coverage for bodily…
ISO endorsements are reasonably well understood due to their familiarity; but proprietary endorsements aren’t standardized or always familiar. This means agents must read all endorsements – ISO and especially proprietary endorsements.
Here’s your one-stop-shop for Liability Coverage for Trailer-Related Liability: Primary and Excess Protection.
Agents learn early that there are two types of property, real property and personal property. Real property is generally defined as land and everything attached to the land such as by roots, by being embedded in the land, permanently resting on the land such as a building or property permanently attached to the building. Personal…
