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.
What happens with there is not enough coverage from the NFIP to cover the condo association. Do the unit owners purchase their own coverage or does the association have to purchase excess coverage?
COPE underwriting is the basis for commercial property underwriting and has been for nearly 400 years. Understanding Construction, Occupancy, Protection and Exposures is imperative to properly present and underwrite property coverage.
Business income coverage responds only when certain conditions are met. Simply losing business income is not enough to trigger coverage. This article explores the conditions that must be met using a water contamination incident in Corpus Christi, TX as the backdrop.
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…
A Louisiana agent asks, “I am stumped on a couple of business income issues, and would appreciate your help. First, I’m trying to figure out the difference between Extended Business Income, Extended Period of Indemnity, and Maximum Period of Indemnity. Second, how do all these differ from ‘regular’ Business Income? I realize these are probably…
The Agreed Value Option (AVO) is an alternative to coinsurance in the ISO Building and Personal Property Coverage Form (CP 00 10). Agreed Value can be used with buildings or personal property, on either an actual cash value (ACV) or replacement cost (RC) basis. However, many agents are not aware of how this option must…
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.
We probably get more questions about trailers than any other vehicle. Search the VU for “trailer” and you’ll see what I mean. In this article, VU faculty member Mike Edwards addresses the subject yet again, under both BAP and PAP forms, of how to insure an owned trailer when you don’t own any autos.
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?
