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 and no. Mostly no until it becomes yes. At least that’s what one court recently decided.
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, “Analyzing the Disconnect Between the Reinsurance Submission and Global Underwriter’s Needs.”
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. Some accounts are myths and legends, but some are all too real. This article details the “howevers” in the CGL’s absolute pollution exclusion that makes…
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, and legends that helped mold the current insurance world in America.
State laws vary regarding auto policies, personal and commercial. Each state prescribes its own minimum limits and other required coverages. Some state require Uninsured Motorist (UM) and some states require Uninsured and Underinsured Motorist (UM/UIM). Is it a Personal Injury Protection state (aka, No-Fault); or are you allowed to exclude a driver?
Need help finding the condominium laws of each state? This reference gives you the condominium law, the horizontal property law, the common ownership law, or whatever it is called of every state. Useful – and needed – whether you insure the association or the unit owner.
An event planner wants to expand his services to include hiring a shuttle van, shuttle bus, or limo as a part of a package deal when planning large events. The agent seems to remember that the ISO BAP excludes hiring an auto with a driver but can’t find any exclusions in the coverage form which…
We get a number of questions regarding insuring trailers. Here is yet another twist, along with links to other articles at the end. If you search the VU for “trailer”, you will undoubtedly find many more.
An insured who is leasing a building or space in a building is being required by the landlord to carry $1M in “fire legal” coverage. The insured’s CGL insurer will not provide more than $300K in FDLL limits. What can the insured do? Better, what SHOULD the insured do?
You insure a residential painting contractor. Many of his customers give him access to their homes when they are not around. What if he damages the premises while having sole access to the home? Does the ISO CGL policy’s “CCC” exclusion apply?
