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24 May, 2014

YOU CAN INSURE THAT?

2018-04-23T20:59:43-05:00May 24th, 2014|Insurance contract, Midwest Insurance Law Guide|

5 WILD & WACKY INSURANCE POLICIES 1.  Alien Abductions. Yes, it is true. If you feel as though this is an event that is in the realm of possibility for you, Lloyd's of London will sell you a policy to coverage damages and loss when you are abducted. 2.  Runaway Brides.  Travelers and other insurers are now offering nuptial insurance that covers typical wedding catastrophes such as a bankrupt caterer or a bride or groom with [...]

21 Jan, 2014

THEFT COVERAGE UNDER HOMEOWNER’S POLICY: Excluded or Included?

2018-04-23T20:59:43-05:00January 21st, 2014|Homeowner's policy, Insurance contract, Midwest Insurance Law Guide|

THE BOTTOM LINE:   If a specific peril's policy does not define theft, a court will use a broad definition that may ultimately allow coverage.    In a recent case, Peterson v. Homesite Indemnity Co., 287 Neb. 48 (Dec. 20, 2013),  the Nebraska Supreme Court reviewed a standard coverage clause on theft.  The policyholder had hired a moving company to transport his household goods to Florida.   The cost of the move was based upon the weight [...]

15 Mar, 2013

3 STEPS TO RAILROAD RISK TRANSFERENCE

2018-04-23T20:59:45-05:00March 15th, 2013|Additional insured coverage, Indemnity clauses, Insurance contract, Midwest Insurance Law Guide, Railroad endorsement, Railroad indemnity, Railroad protective insurance coverage, Risk transference|

There are three essential steps to railroad risk transference through insurance: 1.     Add an indemnity clause to all contracts making clear that you are asking for indemnity for the contractor's or vendor's negligence.   If you do intend to seek indemnity for the railroad's negligence too, this language needs to be clear and unequivocal in order to adhere to most states' requirements.  Not all states allow exculpatory indemnity.  (I will write more about this later.  [...]

8 Mar, 2013

HOW TO PROPERLY INSURE A CONSTRUCTION PROJECT

2018-04-23T20:59:45-05:00March 8th, 2013|Additional insured coverage, Construction liability, Construction subrogation, Indemnity clauses, Insurance contract, Midwest Insurance Law Guide|

  Here are three simple rules for obtaining indemnity and insurance on a construction project if you are the owner or the General Contractor. #1.  Make all subcontractors add you as an additional insured on their CGL policies by endorsement.  Insist upon the ISO 1985 version, which would cover you for losses incurred even if it is your fault.  This is the broadest form available. #2.  Draft a contract with the subs that contains two separate clauses:  one [...]

4 Mar, 2013

NEW CGL POLICY LANGUAGE EFFECTIVE 2013

2018-04-23T20:59:45-05:00March 4th, 2013|Commercial General Liability (CGL), Insurance contract, Midwest Insurance Law Guide|

ISO has issued new Commercial General Liability (CGL) forms and endorsements that are operative as of April 2013.   Many of these new policy provisions will affect our readers.   Some take away coverage, others add more, and a few new ISO provisions set forth clarification of the meaning of existing forms. I will periodically discuss in the Guide how these new provisions change coverage in future policies.  Many states have already adopted these changes, including [...]

25 Jan, 2013

EXTENDING ADDITIONAL INSURED COVERAGE BY COURT OPINION

2018-04-23T20:59:45-05:00January 25th, 2013|Additional insured coverage, Commercial General Liability (CGL), Complex insurance coverage, Contract liability coverage, Indemnity clauses, Insurance contract, Midwest Insurance Law Guide, Property and casualty|

I often discuss the role of the courts in broadening coverage for additional insureds in a Commercial General Insurance (CGL) policy.  Here is another case where a court has extending coverage – probably well beyond what the underwriter intended at the time the policy was issued.   In the case of Evanston Ins. Co. v. ATOFINA Petrochemicals, Inc., 256 S.W.3d 660, 666 (Tex. 2008), ATOFINA contracted with Triple S Industrial [...]