What's New—June 2008
Six reference manual updates and new issues of
The Risk Report and
Captive Insurance Company Reports (CICR)
have been added to the IRMI infobases.
We have also updated the home page
and job function dashboards to facilitate
navigation in the site.
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Newsletters & Journals
The June issue of
The Risk Report,
"Insurance Policy Rescission,"
explains the rescission process and the basic elements necessary for it to occur.
The importance of the application wording, materiality and intentionality issues,
and severability provisions are discussed.
The June issue of
Captive Insurance Company Reports
begins with "Captives
and the Subprime Crisis" by William Dalziel of London & Capital. It presents
an overview of the subprime crisis and the larger credit crisis behind it, and
concludes with five lessons for captive practitioners.
Reference Manuals
CGL Reporter
adds 96 new annotations of cases and disputes arising under general
liability and completed operations coverage, first-party property, surety, reinsurance,
professional liability, directors and officers liability, and trucking and commercial
auto. A new article, "Damage to
a Contractor's Work Product: Is There an 'Occurrence'?" and
updated indexes
and tables of cases are also included. Additionally, PDFs of the full court
opinion of many of the cases have been added to a new
Caselaw Library,
which is provided to subscribers of CGL Reporter
at no additional charge.
Commercial Auto Insurance
updates the first half of the
state motor vehicle statutes (for Alabama through Missouri)—including statutory
provisions with respect to motor vehicle registration, financial responsibility,
compulsory liability, uninsured and underinsured motorists, and no-fault provisions.
The next supplement will address statutory provisions in the remainder of states.
This supplement also includes updated UM/UIM pages for
Louisiana
and Maine.
Commercial Property
Insurance continues the expansion of the ISO annotated forms section
of the manual. It adds relevant caselaw and related commentary on the provisions
in the last several sections of the basic and broad causes of loss forms
(CP
10 10 and
CP 10
20), especially the
special exclusions and the collapse additional coverage. Also included in
this supplement are updated indexes of
commercial property multistate and
state-specific endorsements and an updated chart summarizing state laws
on
commercial property insurance policy cancellation. Lastly, the information
on
terrorism endorsements used with the businessowners policy has been updated
to reflect changes made in response to the Terrorism Risk Insurance Program
Reauthorization Act of 2007.
Construction Risk
Management updates the discussions of
insurer solvency
and the standard
businessowners package policy. The section on
terrorism insurance is also modified to include recently filed CGL endorsements
related to "other acts of terrorism." The
Construction Risk Management Newsletter provides updates on construction
and insurance industry developments.
D&O MAPS
has been expanded to include the following policies and analyses.
Personal Risk Management
and Insurance updates the comparison of the (a) ISO PAP (January
2005 version) to the
Allstate
PAP (August 2005 version) and (b) ISO PAP (January 2005 version) to the
Farmers PAP (October 2006 version). Cite checking all the cases in PRMI
resulted in the opportunity to improve the case citations in more than 20 cases;
all of these improvements are thus included in this supplement. In addition,
this supplement updates the listing of
endorsements
in the ISO homeowners program and the
homeowners and
PAP cancellation requirements. Finally, it revises the
state auto laws chart and several states' UM pages
(ME,
MN,
NC,
OR,
PA,
TX,
VT).
Forms
The ACORD Forms
manual has been updated
(thru May 2008)
with new and revised forms. The
ACORD Forms manual now includes more
than 615 forms.