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Coverage issues
Waiver of Subrogation endorsement
I have a request from an insured for a Waiver of Subrogation endorsement and when I sent it to the carrier they said they could not find an ISO form for waiver of subrogation. Are all waivers of subrogation manuscript forms or is there a standard form?
‘Insuring’ cell phones
Are third-party representatives authorized to insure my clients’ phones?
DP-3—vacant property
On a DP-3 form, are there any exclusions that apply to the liability coverage, with respect to a vacant property? We understand the property coverage is jeopardized if the dwelling is vacant. Does that follow for liability or a medical payments loss?
Flu outbreak coverage
Is there any type of insurance available that covers a business in the event of a widespread flu outbreak?
Condo mortgagee requests to be additional insured
We often receive requests from the unit owner of a condo that their mortgagee wants to be added as an additional insured on the condo association’s policy. Can they request this?
NYPIUA offers DP-2 policy
Is it true that residential property owners can only get a basic-peril DP-1 policy from the New York Property Insurance Underwriting Association?
New York’s Crime Victim Compensation Program
My elderly client had her car vandalized and she is having a tough time absorbing the $500 deductible. Is there any recourse under the New York Crime Victim Compensation Program?
Coinsurance on a business income policy
What does the coinsurance value of 125% on a business policy mean?
ISO stated amount endorsement
According to the terms of the ISO Stated Amount personal or commercial auto endorsement, can a claims settlement be less than the stated amount for a total loss?
Agent/broker attestations, warranting coverage
A general contractor has requested of my subcontractor client that I provide the general contractor with a letter stating that the coverage conditions of my client’s policy meet the insurance requirements of the construction contract and also that the general contractor be notified of substantive changes made to such policy during the policy term. How should I proceed?
Liability coverage for a license vs. a lease
Many of my New York City commercial clients are signing license agreements for commercial space. The agreements are called licenses, and not leases, where the client is called the licensee and the landlord is called the licensor. In most liability policies, a “lease” is specifically stated as an “insured contract.” Given that the policy makes no reference to a “license,” would coverage still apply? How do we cover the licensor when additional insured coverage is required by contract? What about waivers of subrogation?
Additional Living Expenses coverage on a seasonal or secondary location
How does Additional Living Expense coverage react in the case where the loss occurs at a seasonal or secondary location?
Unoccupancy and vacancy
I have several homeowners on Long Island who have been devastated by a severe storm. In one particular case, the structure is currently uninhabitable and the homeowner is now living in an apartment about 10 miles away from the home. The flood claim has not been settled and the property has not yet been repaired. At what point does the home become either “unoccupied” or “vacant”? I was looking for a definition, but could not locate one. Does the 60-day rule apply when there is a claim?
Who owns the engagement ring?
When a man gives a woman an engagement ring, who has an insurable interest in that ring and how should it be insured?
Who owns the engagement ring?
When a man gives a woman an engagement ring, who has an insurable interest in that ring and how should it be insured?
Damage from riots
Is damage from riots covered on a businessowners or property coverage policy?
Business interruption—riots
Is there coverage for business interruption caused by rioting?
Business interruption—curfew
Will business interruption coverage apply to income losses resulting from the orders of curfew?
Vacancy vs. unoccupancy
Can you explain the difference between vacancy and unoccupancy?