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...the areas of Collapse Coverage and Water Damage. These policy provisions have ... or fiberglass. • HO 04 95 Water Back-Up And Sump Discharge Or Over...

... a suit seeks punitive damages and your policy clearly excludes them. Or perhaps your policy does not exclude them but your state law forbids coverage on public-policy grounds. In some cases, insureds and brokers report a loss simply for due diligence, or to test the coverage waters, not because they expect that the loss will be covered. Dispute the reservation. If you disagree with the reservation of rights, promptly go on record, ' advising the insurer of your reason(s ) . This paper trail will be helpful if the ... this light, the policyholder can transform the coverage issue into a plan to patch up a possible hole' in coverage or consciously decide to retain or self-fund. In the Chinese language, the character for the word danger' connotes a double meaning of opportunity' as well. In a similar vein, reservation-of-rights letters carry overtones of danger, the danger of an uncovered loss. Viewed in a more positive light, however, such letters may flag an opportunity for companies to strengthen their own insurance and risk management programs, learning from ... key facets of reservation-of-rights letters and discusses ways to react when one is received. Does a reservation of rights mean I have no coverage? ' Not necessarily. It does suggest that a cloud hovers over your coverage. It signals that the insurer thinks there might be grounds to deny coverage for at least part of the claim. A claim can allege some counts that the policy may or may not cover, such as intentional torts, financial loss with no property damage or bodily injury, or a matter clearly outside the policy scope ...

... of the changes do not affect coverage, but clarify policy wording. Those include the definition of "insured", the deductible provision and the "perils insured against" wording. In addition, some recent court decisions influenced changes in the areas of Collapse Coverage and Water Damage. These policy provisions have added wording to communicate the intent of the coverage more clearly and to eliminate any ambiguity. Here are some other changes: Changes that Reduce Coverage • &# 160Personal Property Located in Self-storage Facilities There's a 10% limit for personal ... exclusion does not apply to "bodily injury" resulting from the use of reasonable force by an "insured" to protect persons or property. The exception now includes coverage not only for "bodily injury" in such a case, but "property damage" as well. • &# 160Controlled Substance The liability exclusion for loss resulting from the use, sale, manufacture, delivery, transfer, or possession of a controlled substance had an exception for the legitimate use of prescription drugs by a person following the orders of a licensed ... physician" . Recognizing that dentists, nurse practitioners, and other health care professionals also have the legal right to prescribe drugs, ISO changed the wording to "following the lawful orders of a licensed health care professional" . Good News, Bad News Some of the policy changes, while reducing coverage in one way, broadened coverage in another. The most significant of these include: • &# 160Electronic Equipment Limits The Electronic Equipment coverage has been amended in response to agents' concerns about a possible gap of coverage between the Homeowner ...

...should be careful not to muddy the waters with other documents such as office ...law, unless they can be attacked for grounds for the revocation of any contrac...