Over the last several days, the VU has fielded several auto insurance related questions as it pertains to food delivery and the Coronavirus. These questions cannot be classed simply as personal auto or business auto questions because the most common question involves both polices.
With perhaps the exception of ransomware, the largest source of cyber loss for insurance carriers is phishing scams, commonly known as business-email-compromises (BECs), whereby an insured is tricked into sending money by wire transfer to a bank account controlled by a criminal organization. Some losses are seven-figures; some represent death by a thousand wounds. During…
Very simply, how does or might the commercial general liability (CGL) policy respond to the coronavirus? There are many hurdles that must be jumped before the CGL will respond.
Although we know that interpreting contracts is a matter of law, because our customers routinely execute hold harmless and indemnity agreements with all manner of entities, knowledge of these contractual provisions is of primary importance. It is important that you have insight to help you better understand the workings of these agreement and how your…
Insurance Services Office (ISO) has introduced four new earth movement exclusions with effective dates of 12/1/19. Three are designed for use with the commercial general liability (CGL) coverage parts; and one is for use with the owners and contractors protective liability (OCP) coverage part. These are extremely dangerous endorsements if used improperly.
In its December 2019 multi-state filing, ISO made alterations to its two existing wrap-up exclusionary endorsements, the CG 21 31 and the CG 21 54. In addition to these edits, ISO also made available two additional wrap-up exclusionary endorsements, the CG 40 07 and the CG 40 08.
There is an entire generation of insurance agents who are totally unaware that insured status has not always been extended to Trusts and volunteer workers in the commercial general liability (CGL) policy. After all, these entities and individuals were first granted insured status near the turn of the century, way back in the 2001 edition…
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.
Insurance Services Office (ISO) introduced several changes to liquor liability coverage in its most recent multi-state general liability filing. These changes include: 1) Four additional insured endorsements were created for use with the Liquor Liability coverage form; 2) The CG 20 01 – Primary and Noncontributory – Other Insurance Condition endorsement is now available for…
Insurance Services Office (ISO), in its most recent multistate endorsement revision filing, made a minor change to 25 additional insured endorsements; brought two additional insured endorsements up-to-date and in alignment with most the construction-related additional insured endorsements; added three new non-construction AI endorsement triggered by the presence of a contractual requirement for AI status, and…
