Risk Managers’ Forum By Cathariya “Cat” Ferris UTILITY SERVICES COVERAGE: AN OFTEN-OVERLOOKED ENDORSEMENT What happens when a loss is caused by damage from a covered peril to property away from the insured’s premises? Hector, a restaurant owner, saw the news and knew that the hurricane was heading toward the Florida coast. Being nearly 70 miles inland, he wasn’t too concerned about catastrophic winds or any potential storm surge, but he
Coverage Concerns
Dig a Little Deeper By Bruce Hicks, CPCU, CLU HOLD YOUR NOSE Flooding is an age-old property event that affects personal and commercial insureds The Court Decisions column is a popular feature in Rough Notes magazine, in part because the courtroom is where the promises made in an insurance contract often become real. All insurance professionals can develop “what if” scenarios, but until those scenarios are tested with an actual
SUBSCRIPTION INSURANCE It’s intriguing, but not a serious threat By Joseph S. Harrington, CPCU Welcome to “subscription culture,” where consumers expect to be able to order what they want, when they want it, in whatever quantity they want, for as long as they want. Subscription culture is perhaps best exemplified by the “streaming services” that provide television programs and internet content to individuals who select them on a fee-for-service basis.
THAT LACK OF COVERAGE IS CRIMINAL Renting property usually is risky. One landlord’s experience was particularly poor. The landlord’s tenants were asked to leave when the renters appeared guilty of criminal activity. The property was inspected once the tenants were gone. The landlord found that his property may have suffered from either the use and/or manufacture of illegal drugs. The landlord’s suspicions were confirmed by a service he hired. The
Mind the Gap By Marc McNulty, CIC, CRM LESSER-KNOWN ENDORSEMENTS: PART TWO A look at general liability and commercial auto endorsements Part one of our “lesser-known endorsements” mini-series shed some light on property and crime endorsements that newer producers may not be familiar with. We found a way to expand property coverage by gaining coverage for items that are typically excluded in coverage forms; we explored a solution for tenants
