When Mulch is Much More! |
A company that operated as a pallet manufacturer and a recycler suffered damage to outdoor mulch piles that smoldered and then caught fire in several areas. After disputing whether coverage was owed to the incidents, a lower court ruled that two of the applicable policy's limits must respond to the loss. The insurer opted for a higher opinion.
Click here to see how the courts ruled.
|
| |
From the Insured's Standpoint |
In the above case, as things often happen in coverage disputes, courts make decisions based on the unequal status that usually exists between policyholders and insurance companies. While policies are contracts, insurance companies have a natural advantage. Policyholders get the benefit of the doubt when given situations that affect coverage are not sufficiently clear.
Click here to see how this situation is explained in Gordis on Insurance:
|
| |
Show Me What's Covered |
Most policies include guidance on how to determine what and how various property is covered. The ISO Commercial Property Program is no exception as critical information is provided via basic policy form. Consider the CP 00 10, Building and Personal Property Coverage Form. It's section on covered property is instructive.
Click here to read examine a section on determining covered property under the CP 00 10 in the PF&M analysis.
|
| |
Why We Ask For More Information |
It can be very useful to use different tools to assist in properly identify property exposures. We often suggest using questionnaires. However, while the use of questionnaires may be assumed to be intuitive, it makes sense to become more familiar with any background or rationale in their use. We offer a series of "How To" Courses that provide such information.
Click here to see an example from our Manufacturing course. It demonstrates that there is a method underlying why certain questions are important to ask:
|
| |
|
|
|
