• Employee Dishonesty and Overpayment of Wages

    Employee Dishonesty and Overpayment of Wages Employee Dishonesty and Overpayment of Wages The form is BP 00 03 01 06. Our insured had an employee who was adding time to her time card and receiving additional pay for hours not worked. I am a tad puzzled by the language under Employee Dishonesty,...

    Read Full Article

  • Designated Premises Endorsement and Off-Site Risk Exposures

    Designated Premises Endorsement and Off-Site Risk Exposures Designated Premises Endorsement and Off-Site Risk Exposures Our insured carries a BOP with the CG 21 44, Designated Premises endorsement. The insured produces food items at his multiple listed locations for sale. The insured is now...

    Read Full Article

  • Loss of Value Is Not Direct Physical Damage

    Loss of Value Is Not Direct Physical Damage Loss of Value Is Not Direct Physical Damage Our insured is an antique dealer with a special businessowners form.He purchased two paintings to be placed into his inventory that he thought were authentic.Upon further review, he found the paintings were...

    Read Full Article

  • Water Damage Claim Excluded by Wear and Tear Exclusion

    Water Damage Claim Excluded by Wear and Tear Exclusion Water Damage Claim Excluded by Wear and Tear Exclusion This question concerns coverage on a BP 00 02 12 99. It is a typical water damage claima worn out roof (no wind or hail damage) with rain leaking into the building and damaging the...

    Read Full Article

  • Damage to Premises Rented to Others Limit of Insurance

    Damage to Premises Rented to Others Limit of Insurance Damage to Premises Rented to Others Limit of Insurance Our insured has a businessowners policy. The policy dec page shows the following commercial general liability limits of insurance: each occurrence limit $2,000,000; damage to premises...

    Read Full Article

  • BOP Coverage for Liability Claim Based on Food Illness

    BOP Coverage for Liability Claim Based on Food Illness BOP Coverage for Liability Claim Based on Food Illness My question concerns the ISO Businessowners form, BP 00 03 01 06, with attached endorsements for bacteriaBP 06 01 01 07, Exclusion of Loss due to Virus or Bacteria, and BP 05 77 01 06,...

    Read Full Article

  • BOP Coverage for Gasoline in Underground Storage Tank

    BOP Coverage for Gasoline in Underground Storage Tank BOP Coverage for Gasoline in Underground Storage Tank The ISO Businessowners form describes business personal property as “in or on the buildings at the described premises or in the open (or in a vehicle) within 100 feet of the described...

    Read Full Article

  • Business Personal Property as Defined in BOP

    Business Personal Property as Defined in BOP Business Personal Property as Defined in BOP I have a client that has several mounted trophy animals in his office. They are trophies from elk hunts in Colorado. They have been displayed in his office for a number of years. He is insured on an ISO...

    Read Full Article

  • BOP Coverage and Business Income, Extra Expense, and Debris Removal Claims

    BOP Coverage and Business Income, Extra Expense, and Debris Removal Claims BOP Coverage and Business Income, Extra Expense, and Debris Removal Claims Our insureds building and stocks of merchandise covered under a BOP policy were damaged by fire.He did not purchase business income, extra...

    Read Full Article

  • BOP Business Income Loss Coverage Explained

    BOP Business Income Loss Coverage Explained BOP Business Income Loss Coverage Explained Our insured has a BOP with actual loss sustained for twelve months. He has submitted a claim for $78,000+ of business income. An outside company did an accounting and came up with $4,500. The insurance company...

    Read Full Article

  • Preservation of Property Additional Coverage and Policy Limits

    Preservation of Property Additional Coverage and Policy Limits Preservation of Property Additional Coverage and Policy Limits In the BP 00 03 06 07, under Section 1, Property, A. Coverage, 5. Additional Coverages, b. Preservation of Property, are the limits available for Preservation of Property...

    Read Full Article