What's New—January 2009
Five 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 January issue of
The Risk Report,
"Managing Corporate Risks from Cell
Phone Perils" by Kevin Quinley, outlines the importance of addressing the
intelligent use of cell phones in risk management programs.
The January issue of
Captive Insurance Company Reports (CICR)
begins with "Insurance
Outlook: 2009," which presents financial highlights of the insurance industry
for 2008, with some prognostications for 2009.
"Captives and Their Service
Providers" outlines how service providers should be selected. Finally, we
overview the recent World
Captive Forum.
Reference Manuals
Commercial Property
Insurance begins the process of addressing the changes made in
the 2007-edition ISO commercial property forms, which became available for use
in most jurisdictions as of November 1, 2008. It provides updated annotated
policy form discussions of the
building and personal property coverage form (CP 00 10) and the
special causes of loss form (CP 10 30), plus specimen copies of the 2007
editions of the building and personal property coverage form and all three causes
of loss forms
(CP
10 10,
CP 10
20, and
CP 10
30).
Contractual Risk
Transfer updates the discussion of
additional insureds under workers compensation insurance (section XI.G),
issues raised by dual and joint employment, and the proper use of the alternative
employer endorsement. (This update complements the update of employee leasing
issues in contractual risk transfer provided in Supplement #51.) This supplement
also includes an expanded discussion (section XI.C) of problems associated with
the use of standard automatic ("blanket") additional insured endorsements. Issues
involving the standard requirement that a request for
additional insured status be contained in a written contract, and the necessity
of making certain that contract language insurance requirements are
specific as to the coverages under which insured status is being sought,
are discussed and illustrated with pertinent caselaw.
Pollution Coverage
Issues added 34 new cases to the
chart on post-1986 pollution
exclusions. Additionally, a new table of statistics has been added to give
you a rough estimate of the chances of success when an insurer asserts a post-1986
pollution exclusion in a given claim scenario. (See the
bulletin for more information.)
IRMI's Environmental Insurance Reporter
examines cases expressing a common law rule that a substance must be "acting
as a pollutant" before a post-1986 pollution exclusion bars coverage for a claim.
Professional Liability
Insurance features a revision of the
fiduciary
liability exposures section (XII.C). Since this section was last updated,
the liability exposures of fiduciaries have continued to expand. A combination
of court decisions, new federal legislation, and the current recession have
combined to create new causes of action for plaintiffs. These, as well as other
developments impacting the liability exposures of fiduciaries, are addressed.
In addition, the
Topical Index
is also updated.
Practical Risk Management
updates three topics concerning the broker/client relationship.
Broker
Selection (A-7) addresses services to look for, how to develop a list of
firms to consider, key steps in the broker selection process, methods of selecting
the firm to use, and broker compensation. Topic A-8 expands on this discussion
by looking at what
duties are owed to a client by the broker.
Broker
Compensation (Topic A-18) discusses how brokers should be compensated and
reviews different models that can be used. This supplement’s issue of
Risk Management Notes summarizes the results
of a number of surveys that have been released in the last 3 months. Reviewing
these results can be valuable in planning risk management strategies and setting
realistic expectations. "Marketplace
Musings" looks at the state of the insurance market.
Other Updates
The
"State-by-State Chart: CGL Coverage for Defective Work," (found in
Insurance
for Defective Construction), which provides a graphical national
summary map showing how the caselaw has developed and
state-by-state summaries of the most frequently cited cases on insurance
coverage for defective construction, has been updated to reflect recent state
changes and court decisions. Author Pat Wielinski closely monitors this section
of the law and periodically updates this appendix in the electronic versions
of the book to keep it current.
New Editions
IRMI Insurance Checklists
2009 provides 58 checklists for reviewing the coverage provisions of personal
and commercial lines insurance policies. All the checklists have been updated
to consider forms changes implemented since last year. The checklists
are presented in Word documents which you can download, save, fill out, and
customize. If you subscribe to this publication on IRMI Online, you now have
access to the new edition.
Learn more about Insurance
Checklists...
Forms
The ACORD Forms
manual has been updated
(thru Dec 2008)
with new and revised forms. The
ACORD Forms manual now includes more
than 625 forms.