Risk Management for Building Owners with Vacant Buildings

The most common property form in use for commercial buildings is the ISO form, CP 00 10 04 02. The language of the form states explicitly:  ”Buildings under construction or renovation are not considered vacant.” Some brokers will advise their building owners that because they have “construction going on” in their buildings, right? [wink-wink], they needn’t worry about the vacancy clause.  Such flippant advice is fraught with peril for both the broker and the building owner client. Having had private...

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Terrorism and Insurance in Boston

An interesting article on insurance ramifications of the Marathon bombings in Boston, appeared in the Wall Street Journal, April 25, 2013. Property insurance payouts hinge on “proximate cause.”  In order to be a covered claim, the principal cause of the loss must be a covered cause. Since 9-11, terrorism has been an option offered to policyholders which they can accept or decline.  The premiums for accepting the coverage for most of my California clients have been modest.  However, many small businesses don’t think a...

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A Sandy Claim Reaches a California Policy

My client is a nationally recognized speaker on sales and marketing issues, and speaks frequently to Business Owner groups all over the US.  He was booked to speak to three groups on Long Island during the week after Hurrican Sandy.  Those presentations were cancelled at the last minute because of the devastation from the wind which downed trees and power lines, interrupting power in the affected areas.  My client lost $3,000 in revenue as a result. He called and asked if there was any coverage under his basic business owner’s...

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California Supreme Court Taking Up the Valdez Case

Latest from Greg Grinberg blog, October 22, 2012. At issue is whether doctor reports generated by docs outside of the MPN are admissable in the claim settlement process. Currently, they are not; a change in status will inevitably add to cost of claims.  

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NFL and Insurers Clash Over Head Injuries

This AP article discusses what is likely to be just the tip of the iceberg in what will be a long and protracted legal and insurance issue.

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Repetitive Stress From Daily Living

RSI (Repetitive Stress Injury) is not only a working environment phenomenon.  This article raises awareness of the sources of RSI potential, such as netbooks, and game controllers.  Stretching and activity breaks are recommended even in our leisure activities.

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