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  1. Business records subject to audit | Ask PIA

    What can and can’t a company require by way of business records in connection with a premium audit? Our company wants to see copies of contracts with service companies entered into by our client who owns apartment buildings. We write the commercial general liability policy on these buildings. Is the...

    The company appears to be asking for records which may lie beyond the scope of its audit privileges under the policy conditions. The commercial general liability’s common policy conditions allow the company to “examine and audit your books and records as they relate to this policy at any time during...

  2. Trigger for personal and advertising injury | Ask PIA

    I’m confused by the various triggers for coverage used on an Insurance Services Office Inc. Claims-Made Commercial General Liability form. Is Coverage B—Personal and Advertising Injury Liability subject to an occurrence or a claims-made trigger?

    The trigger depends on which edition of the claims-made CGL policy form you are dealing with. In editions dated prior to 1988, Coverage B—Personal and Advertising Injury Liability had an occurrence trigger applying to “personal injury” caused by an offense committed during the policy period. In forms dated 1988...

  3. ‘Damage to property’ exclusion | Ask PIA

    Our insured was installing a sign for a business when the sign slipped. The sign scraped a wall going down, causing $12,000 worth of damage. How would the property damage exclusion j.(5) apply to the insured’s commercial general liability policy in this situation?

    The j.(5) “damage to property” exclusion applies to “that particular part of real property on which you ... are performing operations, if the ’property damage’ arises out of those operations.” The question of coverage for the scraped wall hinges on the phrase “that particular part,” which admittedly is subject to...

  4. Connecticut trust account requirements | Ask PIA

    What are the requirements for client premium trust accounts in Connecticut?

    C.G.S.A 38a-720f sets the requirements for client premium trust accounts, also known as fiduciary accounts. Under the statute, a fiduciary account is required for the collection of premiums and charges or return of premiums on behalf of an insurer by a third-party administrator, defined in C.G.S.A. 38a-720(11) to...

  5. Natural disaster courses | Ask PIA

    I saw a new law took effect in New York that makes homeowners eligible for a reduction of their fire, homeowners and property insurance premiums if they complete a course on natural disaster preparedness, home safety and loss prevention. Where can I find information on these courses?

    Information on these courses can be found at the New York State Citizen Preparedness Corps. website at https://prepare.ny.gov/training-events. The New York State Department of Financial Services encourages property/casualty insurers to submit their disaster-preparedness courses for approval so consumers may complete them for the discount. For more information, see the...

  6. Requesting New York rate filings | Ask PIA

    What is the process a New York producer has to follow to obtain a carrier’s rate filing?

    In order to request copies of rate filings from the New York State Department of Financial Services, it is necessary to submit a written Freedom of Information Law request. Information can be requested online through the department’s FOIL eForm, or if you prefer to do a written request, the form...

  7. Separation of insureds/duty to cooperate | Ask PIA

    Our insured is involved in a third-party claim situation under a commercial general liability policy. The claim is based on the actions of a former employee. The adjuster can’t get in touch with this individual, who has made it clear that he will not cooperate. Does this lack of cooperation...

    No, it shouldn’t. Although any insured who expects the insurer to perform its obligations under the policy must cooperate with the insurer’s post-loss investigation. Nevertheless, the Separation Of Insureds provision grants protection to other insureds under the policy who are not violating their duties following a loss. The Separation...

  8. Power-surge exclusion | Ask PIA

    A gas station with a package policy sustained a loss when a power surge shorted their computer equipment. It turned out that a tree limb on the premises was rubbing on the wires, creating power surges. Our company is denying coverage. Are they correct?

    You would have a very difficult time arguing for coverage under the package policy language. The ISO Cause of Loss—Special Form Exclusion B.2.a. removes coverage “for loss or damage caused by or resulting from artificially generated electric current, including electric arcing, that disturbs electrical devices, appliances or wires.” The...

  9. Burst pipe | Ask PIA

    We have a claims dispute over a commercial property loss. The building owner submitted a claim for an incident in which a pipe burst underground, resulting in water damage to the basement. The policy wording follows ISO’s Causes of Loss—Broad Form (CP 10 20 04 02) with respect to water...

    The ISO Water Damage coverage wording of Causes of Loss—Broad Form (CP 10 20 04 02) states: If coverage applies subject to a. above (Water Damage coverage), and the building or structure containing the system or appliance is Covered Property, we also will pay the cost to tear...

  10. Liberalization clause | Ask PIA

    If a carrier adopts a change to a commercial property policy that broadens coverage, when does the change affect in-force policies?

    It would take effect immediately, under the standard ISO commercial property conditions form CP 00 90 (unless there is an extra premium for the enhancement). The ISO’s liberalization clause states, “if we adopt any revision that would broaden the coverage under this coverage part without additional premium within 45 days...

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