Best Practices Tips: Companies that intend to rely on the insurance of a contracting party must: (a) develop minimum limit requirements that evaluate a realistic loss scenario; and (b) ask not only for the certificate of insurance but also obtain representations regarding: (i) the number of other additional insureds
that may have access to the subject policy; and (ii) the level of limit erosion, if any, for the insurance policy that is being offered.
Endorsements can add additional insureds
, add or delete exclusions, and provide additional coverages, among other things.
Some distributors or stores could require their vendors to include them as additional insureds
on their policies, just as owners of a building site often require a general contractor to add them as additional insureds
to the contractor's coverage.
The new policy features actual-loss-sustained business income and extra-expense coverage; automatic coverage for accounts receivable, valuable paper and crime coverage, per-location aggregate coverage, and blanket coverage for additional insureds
Trustees are able to be added to the pre-2001 CGL forms as additional insureds
It will also feature news on property damage interpretations, mold, occurrence, business risk exclusions, additional insureds
, bad faith, obligations to pay, and allocation, as well as full-text court documents and expert commentary.
Mealey said the new title is being launched to cover "this dynamic and evolving area of insurance law." Among the featured content of the monthly report will be news on mold ligitation and construction law coverage of such issues as occurrence, business risk exclusions, property damage interpretations, obligations to pay, additional insureds
and bad faith, among others.
Now, Hanks, KARK and KATV have charged that AIG, Mid-South's insurer, should bear responsibility for defending against Westerman's charges, since the TV people were added as "additional insureds
" under Mid-South's policy.
A certified copy of both the liability and property policies with endorsements to each listing additional insureds
Two basic issues are considered: (1) whether an organization should require that they be added as an additional insured
on the policies of others, and (2) the disadvantages of adding others as additional insureds
under the firm's policies.
However, that section does not deal with entities known as "additional insureds
," those that are added as insureds to the CGL form by way of endorsements.
During the morning session, Unlocking the Mystery of Insureds, Additional Insureds
and Contractual Liability, Falvo explored the differences between insureds and additional insureds
through the lens of the contractual liability exclusion.