If the Nashville Bombing is Considered a “Terrorist” Act, Does that Trigger the Terrorism Exclusion?
Christmas Day 2020 saw Nashville, TN rocked by an explosion. Were these the acts of a terrorist? Might these acts trigger the terrorism exclusions?
Property
Cracking the Condominium Conundrum
How can a policy generating about $75 in revenue cost you $5,000, $10,000, or more? Believing that writing an HO-6 is quick and easy is the beginning of an E&O storm that can cost you thousands (your E&O deductible).
Ordinance or Law – When (and Why) Partial Losses Become Total Losses
We do a bad job of explaining the concept of “replacement cost” and tend to tell clients they will get new stuff for old junk. This may be partially true, but partial truths will get you sued.
Understanding Commercial Property Underwriting – COPE in All its Glory
Gain a better understanding of the four key Property Underwriting factors – Construction, Occupancy, Protection, and Exposure (COPE).
ISO’s 2017 Commercial Property Changes
Insurance Services Office (ISO) filed several important commercial property changes effective September 1, 2017.
How Many Claims Would Be Considered for Riots Lasting Multiple Nights?
An agent asks: We have a few clients with multiple retail locations throughout various states with various policies. If they have locations which receive damages from riots on multiples nights, how many claims would this be considered and therefore how many deductibles? Our VU volunteer faculty provides the answers.
Does Invoking the ‘Insurrection Act of 1807’ Affect Property Coverage?
Rocks being thrown by President Trump are causing major ripples in the insurance pond. His declaration that ANTIFA would be labeled a terrorist organization raised questions regarding whether coverage would be excluded, limited or provided by the various terrorism endorsements. Now his threat to invoke the Insurrection Act of 1807 has raised question of coverage…
Do the Acts of “Terrorists” Trigger the Terrorism Exclusion?
Protests, civil disobedience, riots, and looting followed the death of George Floyd under the knee of a Minneapolis police officer. Might the terrorism exclusion apply to any damage caused during these protests and ultimate riots? Answering this question is initially more difficult than it appears.
COVID-19 and Commercial Property Vacancy Concerns
As of this writing 38 states and countless cities and counties have enacted some form of stay-at-home order amid the pandemic panic arising from COVID-19. If the operation is not considered an “essential” business, its doors are shut – for now. How long such orders will or even can stay in place is anyone’s guess.
ISO’s Business Income Response to COVID-19
Insurance Services Office (ISO) continually monitors emerging issues and trends that may affect the insurance industry, and the unknown ultimate result of the Coronavirus (COVID-19) certainly qualifies as an emerging issue. In response to the Coronavirus, and because many if not most policies contain a virus exclusion, ISO created two business income endorsements to specifically…
