https://completemarkets.com/Article/article-post/1098/HARD-MARKET-SHENANIGANS/
...in gross underinsurance of other property — and it definitely puts other...them. And they know that a Personal Property claim under a total loss wouldn&#...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/623/E-O-Failure-To-Read-A-Policy-Is-No-Defense/
... decisional pronouncements that an insured had an obligation to read the policy provided to them. Indeed, the Appellate Division had upheld the right of an insurance producer to raise the issue of comparative negligence, and had held that the issue was one for the jury to decide in the context of comparing the negligence of two parties and determining proximate cause. In Aden v. Fortish, a fire damaged a condominium owned by the plaintiff and the condominium association's policy failed to cover the damage to the interior of the premises. Because the plaintiff's policy only provided $1 ,000 of coverage, plaintiffs were required to pay about $20,000 in repair costs. Plaintiffs sued the broker for allegedly neglecting to procure adequate coverage for the risk of loss. The broker filed an Answer contending that the plaintiffs ... solution to this problem. If you discuss coverage with an insured and they agree to an amount that might be insufficient to provide full coverage, you'd be wise to have them sign an agreement stating that they chose the specific amount of insurance. Granted, this course of action won't relieve the agent's liability if the insured assumed in any way that the agent would provide sufficient coverage to protect the insured's property, as was the case in the court action cited. E. Al Diamond is president of Agency Consulting Group, Inc., 507 North Kings Hwy., C., Cherry Hill, NJ 08034. You can reach him at (856) 779-2430, (800) 779-2430, toll free,fax (856) 779-6224, e-mail [email protected] or visit www.agencyconsulting.com . Login ...