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  1. Loss assessment trigger | Ask PIA

    A condominium association has experienced a property loss for which there may not be adequate insurance coverage. An assessment to unit owners has not been made (nor even discussed) at this time. If we increase the loss assessment limit before the assessment is charged to the unit owner, will the...

    Yes, this is a strange anomaly in the coverage form that permits an adverse selection of risk for the insurer. All the ISO Homeowners Policy forms state that a loss assessment charged during the policy period against the insured is covered, regardless of when the underlying property loss occurred. This...

  2. Additional insured’s obligation on reporting claims | Ask PIA

    What are the additional insured’s obligations with respect to reporting a claim to the carrier? If the carrier for the workers’ compensation policy and the commercial general liability policy are the same, does notice on the workers’ compensation policy constitute notice on the general liability policy. In the event the...

    I’m sure you realize that the “best practices” standard would be to advise additional insureds to report all claims directly to the insurer and to report the claim under each policy where coverage is provided. Under Section IV—Commercial General Liability Conditions of the ISO policy, the obligation to notify...

  3. Additional insureds—primary coverage | Ask PIA

    There was a New York court decision that interpreted all additional insureds to have primary coverage if coverage for the named insured was primary. Can you provide some details on this case and was there anything unusual about it that would prevent it from applying to all additional insured requests?

    I believe the case you are referring to is Pecker Iron Works v. Travelers. This Court of Appeals case settled the issue by ruling that an additional insured shall enjoy the same level of protection as the named insured. If the named insured gets primary coverage, so does the additional...

  4. Amendment of insured contract definition | Ask PIA

    Was the Amendment of insured contract definition (CG 24 26) endorsement approved in New York and what is the time frame for New York to approve the 2004 edition of the additional insured endorsements?  

    The new CG 24 26 endorsement is part of ISO’s additional insured endorsements filing and has not yet been approved in New York. A representative from the ISO says the Insurance Department has taken no action on the filing and a date for approval cannot be estimated at this time....

  5. Controlling Interest endorsement | Ask PIA

    What is the proper use of the Additional Insured—Controlling Interest (CG 20 05) endorsement?

    This endorsement may be used to cover the interest of a parent company having financial control of the named insured (i.e., more than 50% ownership). In addition to coverage for the additional insured’s financial control of the named insured, it will cover the exposure the additional insured may have resulting...

  6. Delivery of policy | Ask PIA

    What is the time frame in which an insurer must deliver a policy to a producer in New Jersey?

    This may seem surprising, but there is no statutorily mandated amount of time in which an insurer must deliver a copy of the policy to an insured. This is largely due to the varying levels of complexity of policies. Creating a deadline of say 10 days may work well for a...

  7. Additional insured vs. additional named insured | Ask PIA

    Please clarify the difference between an additional insured and an additional named insured.

    It’s not what you call the insured that counts, but it is the coverage afforded that insured under the terms of the policy. A named insured is given unqualified coverage, enjoying the full benefit of coverage provided in the entire policy. All of the named insured’s locations and operations...

  8. Parent's liability for a child's operation of an auto | Ask PIA

    I was under the impression that a parent is responsible for a child operating an auto until he reaches the age of 18, and then the child should get his own auto policy. My client’s attorney claims that the age of accountability is 21. What are the rules?

    The child's specific age is not a factor in the determination of legal liability and your client is not liable for the child's use of an auto solely because your client is the parent. Your client is not liable for the child’s use of an auto solely because your client...

  9. CGL protection for building renovations | Ask PIA

    If a homeowner hires a general contractor to renovate or build a home, what is the appropriate additional insured endorsement that the general contractor should add to his policy to protect the homeowner against losses caused by the general contractor or its subcontractors?

    An appropriate endorsement would be the Additional Insured—Owners, Lessees or Contractors—Scheduled Person or Organization (CG 20 10) endorsement. If completed operations coverage is desired, then you also would look for the Additional Insured—Owners, Lessees or Contractors—Completed Operations (CG 20 37) endorsement. There are automatic [blanket] additional insured endorsements that could be...

  10. BAP additional insured | Ask PIA

    Suppose a certificate holder requests additional insured coverage on the business automobile policy, as well as the general liability policy. Can I just state on the certificate that the certificate holder is an additional insured on the business automobile policy or must I actually endorse the policy with the Designated...

    Unless the certificate holder wants a copy of the endorsement, it won’t matter if it doesn’t get endorsed on the policy. The coverage is exactly the same for that certificate holder whether the endorsement is actually issued or not.

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