Workers’ Compensation, COVID-19 and 3.A. States
Workers’ compensation is regulated at the state level. Although there are some benefits to this, there are also problems created.
VU Resources
Coronavirus: Business Income Losses and a Covered Cause of Loss
How is the actual loss of business income deciphered? Both ISO-promulgated business income policies (CP 00 30 and CP 00 32) provide guidance on how the actual loss of business income is calculated.
Coronavirus ‘Civil Authority’ Coverage May Hinge on Science
Many readers may have heard that the first business income/civil authority lawsuit was filed in New Orleans on March 16, 2020. It’s no surprised it was filed; nor was it a surprise how quickly it was filed. Law360’s insurance writer, Jeff Sistrunk, penned a thought-provoking article on the scientific research that may play a part…
Coronavirus and the Auto Exposure
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.
Coronavirus (COVID-19): Does Business Income Respond?
During this pandemic panic the most common question asked of agents dozens of times every day, “Does my business income policy cover the shutdown mandated or recommended by the government?” The short answer is, no. But you need more detail than that; so here you go.
Email Phishing Scam: Coverage for Social Engineering
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…
Coronavirus and the CGL
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.
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…
The Anatomy of a Hold Harmless and Indemnity Agreement
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…
Earth Movement Exclusions for the CGL – Dangerous in the Wrong Hands
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.
