What's New—September 2009
Four 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 September issue of
The Risk Report, the annual
Insurance Market Report, provides
readers with line-by-line commentary on the commercial general, auto/trucking,
environmental, umbrella, D&O, employment practices, and professional liability
markets, as well as the property, workers compensation, and surety markets.
The September issue of the
Captive Insurance Company Reports
features two articles: "How
To Be a Savvy Reinsurance Buyer" and "Challenges
Facing Captive Domiciles." The first is designed to educate captive owners
and risk managers as to what it takes to properly and professionally buy reinsurance,
whether directly or through an intermediary. The second discusses global regulations,
including Solvency II, IAIS Standards, and the OECD tax challenges, and how
these will affect captive growth.
Reference Manuals
Commercial Auto Insurance
continues a revision of the annotated business auto policy (section VIII of
the manual). Annotations dealing with the
policy introduction and the definitions of covered auto symbols are expanded
to include significant caselaw on the use of the symbols and coverage questions
that can arise in connection with the legal concept of ownership, the scheduling
of nonowned autos, and the meaning of the term "hired auto." Also expanded is
the annotation of the
BAP liability insuring agreement to reflect significant court interpretations
of the language found in that part of the policy. This supplement also contains
a revision of the
commercial auto classification and rating discussion.
D&O MAPS
has been expanded to include the following policies and analyses.
Construction Risk
Management contains updated discussions of the
Americans with Disabilities Act,
large deductible
insurance programs, and
waivers of subrogation in builders risk insurance policies. Various charts
and exhibits pertaining to
workers compensation
insurance experience rating and
deductibles
are also updated, and a review of a
new ISO endorsement pertaining to wrap-up projects is also added. The
Construction Risk Management Newsletter
provides the first of two articles outlining opportunities and
strategies for the acquisition of foreclosed properties.
Personal Risk Management
and Insurance adds discussions on several of the new and revised
countrywide endorsements, including the new homeowners
water exclusion endorsements, the updated homeowners
water back-up and sump discharge endorsement, the new personal auto
custom equipment exclusion endorsement, and the revised personal auto
excess custom equipment coverage endorsement. The supplement also updates
the first half of
personal auto
state-specific endorsements, including the incorporation of the latest versions
of these endorsements. Other updates provided are: the tables pertaining to
the "newly
acquired auto" definition for the countrywide form and, for those states
that have modified the definition, the lists of
countrywide and
state-specific endorsements in the ISO personal auto program; and several
states' UM pages (CA,
MD,
MS,
OR); and one no-fault state page (OR).
Forms
This month, 335 forms and endorsements have been added to the
Forms
manuals. These include ISO
countrywide and
state-specific
businessowners forms, and
countrywide financial
institutions forms. The
Forms manuals now include more than
22,855 sample policy forms.