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).
VU Resources
ISO’s 2017 Commercial Property Changes
Insurance Services Office (ISO) filed several important commercial property changes effective September 1, 2017.
Untangling the Work Comp Mess – Who is Covered and When
Two key questions are answered in this report – what makes an injury or disease compensable under workers’ compensation and who is covered by the work comp policy.
Untangling the Work Comp Mess – When Employees Travel and Their Families Sue
When employees travel out of state for work, real work comp coverage gaps can exist; and these gaps could leave the employer without the necessary protection they THOUGHT they purchased when they paid their work comp premiums.
Workers’ Compensation: 5 Mistakes Every Agent Makes
Workers’ compensation, as a coverage, is simple. A worker gets hurt and, theoretically, the work comp policy pays; that’s the simple part. The more complicated areas of workers’ compensation involve the state laws and legal doctrines applicable to workers’ comp.
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.
How Does the Business Income Policy Respond to a Concurrent Covered Loss?
An agent asks: Several of my clients’ have suffered damage as a result of the riots in the area. However, prior to the riots they were already closed as a result of state-wide COVID-19 closures. How will the business income policy respond? Will loss payment be affected by the previous closure order?
Illinois DOI ‘Requests’ Insurers Not Apply Policy Provisions
Company Bulletin 2020-15 issued June 8, 2020, by the Illinois Department of Insurance (IDOI) threw key provisions of the business income policy out the proverbial window. This article examines how the IDOI addressed the recent riots and how the department expects insurance carriers to respond.
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.