Flood insurance premiums are calculated based upon geographic maps setting forth the boundaries for various flood zones. Because most property insurance policies covering property at fixed locations exclude flooding, flood insurance must be purchased separately. In 1969, Congress created the National Flood Insurance Program to administer the sale of flood…
Insurance lawyers who work in rural areas of Texas will see situations involving crop insurance. Some insurance companies sell property coverage to mitigate against the risk of loss to farm crops caused by environmental perils including drought, flooding, hail or other weather conditions. Crops can be insured under various types…
Here a question for your insurance law attorney … If a car swerves into my lane and I drive off the road and wreck my car to avoid the accident, does my uninsured motorist (UM) policy cover the damages? Answer … NO! An auto policy includes within the definition of…
Insurance for commercial businesses can take many forms. So what about the loss of business income? Because commercial property losses can result in a decrease or loss of business income, many commercial property insurance companies offer business income insurance. An insurer of business income coverage agrees to pay for any…
There are many different types of insurance. Under the category of commercial insurance is an insurance called Builders Risk Insurance. Buildings under construction create unique coverage problems which builders risk insurance attempts to alleviate. Because builders risk insurance forms are designed to cover buildings or structures under construction, they attempt…
Insurance lawyers practicing law in urban areas will usually be around a lot of condominiums. Most people do not realize there is insurance that is specifically for condominiums. Two Insurance Services Office (ISO) commercial property forms have been designated for condominium property exposures: Condominium Association Coverage Form; and Condominium Commercial…
Any insurance lawyer who handles many cases will see situations where the insurance agent is simply a criminal. The Insurance Journal has published two stories where an agent has been convicted for his actions. The first one is from June 2016 and is titled, Texas Insurance Agent Arrested In Scam…
Another type of coverage that insurance lawyers see is called, Special Form Coverage. Special Form Coverage is the broadest form commercial coverage. The special form provides “all risk” insurance which covers any accidental cause of loss unless specifically excluded by the policy. The special form contains the following exclusions, which…
When an insurance attorney gets a new client on an insurance related claim, one of the first things he wants, is a copy of the policy to read. And when he reads the policy, he wants to know what the exclusions are that are in the policy. The basic form…
Like all property insurance policies, the Business Personal Property (BPP) policy imposes a number of duties on the insured. Insurance attorneys will tell these duties constitute conditions precedent to coverage; that is, the insured must comply with these requirements before the insurance company is obligated to pay any loss. This…