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Are they covered - what would happen
Posted: Wed Jan 17, 2007 1:03 pm
by JSJAG
I am sitting here looking at a current policy of a prospect.
She is a salon owner, leasing a space in a strip mall.
Policy dec page:
Building - Excluded
BPP - $21,000
Loss of income - Actual loss / 12 months
Liability - 500,000
Med - 5,000
Products - excluded
Aggregate - 1 mil
Barber/Cosmetologists Prof Liab - included
Annual Premium $250
Suppose there is a fire that burns down her place and the adjoining restaurant what will happen? Who pays for the fire damage?
Posted: Wed Jan 17, 2007 1:12 pm
by CATHIEA
Depends on who the carrier is on this one. Some BOP dec pages don't list out all the coverages for the GL portion. You really need to see the policy forms to determine coverage. Also, remember that Fire Legal coverage only comes into play when the fire is thru negligence. Otherwise, the owner of the strip center will have the building coverage.
A trip to IRMI
Posted: Wed Jan 17, 2007 1:48 pm
by JSJAG
May I suggest you take a trip to IRMI. When they are talking fire, under the "Fire Legal" I don't think you will find neglence as a determining factor.
At least my browser couldn't find it.
A fun one to start is , under recent wording changes on the CGL, what AI rights are transfered when a General Contractors requests to me named as an AI. A lot, many, hardly any none?
CATHIEA wrote:Depends on who the carrier is on this one. Some BOP dec pages don't list out all the coverages for the GL portion. You really need to see the policy forms to determine coverage. Also, remember that Fire Legal coverage only comes into play when the fire is thru negligence. Otherwise, the owner of the strip center will have the building coverage.
Fire damage
Posted: Fri Jan 19, 2007 4:49 pm
by LadyBroker
Maybe I am not as smart as everyone else, but if there is a fire, the salon is covered for BPP and Business Income. Her carrier pays her. She doesn't insure nor own the building so we don't care about the building coverage.
As far as Fire Legal coverage, it was my understanding that this covers you for the damage you might do to a structure you rent or lease, if the fire should start in your unit. I have to consult my insurance dictionary on MOnday, but maybe someone else has theirs handy.
Re: Fire damage
Posted: Sat Jan 20, 2007 9:23 am
by etimer
You are correct about covering the area you rent or lease. You better care about that space when you are covering a client. Help keep our E&O rates down.
LadyBroker wrote:Maybe I am not as smart as everyone else, but if there is a fire, the salon is covered for BPP and Business Income. Her carrier pays her. She doesn't insure nor own the building so we don't care about the building coverage.
As far as Fire Legal coverage, it was my understanding that this covers you for the damage you might do to a structure you rent or lease, if the fire should start in your unit. I have to consult my insurance dictionary on MOnday, but maybe someone else has theirs handy.