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Educational Track - University CE Webinar Information

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  Upcoming University Webinar - Qualifies For CE in States Listed Below
   

CE Webinar Instructor Bio Description

Date: August 6, 2015
Topic: Equipment Breakdown: Spoilage: EDP vs EB: Off Premises Coverage
Instructor:

Laurie Infantino AFIS, CISC, CIC, CRIS, ACSR, CISR

Time: 9:00am-11:00am PT /10am-12pm MT/11am-1pm CT/12pm - 2pm ET
States Approved in:

CE Approved States CA, FL, IA, ID, IL, IN, MA, NE, NH, NV, NY, OR, PA, TN, TX, UT, WA, WI, WY
  ALL Webinars can be attended for educational purposes in all states

Contact: Barbara@InsuranceCommunityCenter.com

   

CE Webinar Instructor Bio Description

Date: August 11, 2015
Topic: Construction Defect
Instructor:

Bob Marshburn CRM, CIC, ARM, CRIS

Time: 9:00am-10:00am PT /10am-11AM MT/11am-12pm CT/12pm - 1pm ET
States Approved in:

CE Approved States CA, CO, ID, NV, NY, TX, UT, WA
ALL Webinars can be attended for educational purposes in all states

Contact: Barbara@InsuranceCommunityCenter.com
ALL WEBINARS ARE FREE TO UNIVERSITY MEMBERS! Non-Members of the University can Register for CE for $60 for classes with 2CE.

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Questions & Answers

 
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Question 1 -  Certificates

We use E-certs for issuance of our certificates and update the certificates each year to reflect current policy information.  So that is not the problem. What I am asking is if it would be ok after the 3rd year or 4th year to not issue the renewal of that certificate if the client does not (as a habit) review his certificates and just has us issue them year after year after year.  We would send notice to our clients with the renewal certificates that would indicate that after x number of years we automatically do not renew certificates.  If we are then requested to re-issue we would.  We have some clients with a 1,000 to 2,000 certs each year and it is getting out of hand!  The issue date would just help us keep track of how many years it has been since the first certificate was issued for that cert holder.  So certs issued in 2015 would not be issued in 2018 or 2019.

Answer by Marjorie L. Segale, AFIS, CISC, RPLU, CIC, CRIS, ACSR, CISR

In the larger picture, there is nothing wrong with what you are wanting to implement.  It really is up to the client to tell you in a proactive manner which customers should still get COI renewal information.  Brokers have spoiled them over the years, which is why you are in the position of issuing thousands of certificates to people that likely do not care.  Most contractors do not have agreements that require COIs to be issued beyond the completion of the project.  A few will require 3 years beyond completion and a very small percentage for the statute of repose.  Simply sending out year after year is costly and largely irrelevant.  I think that if you are going to implement a procedure like this, that you might want to consider the following:

  • Letter to your clients indicating the procedural change and asking for their notification in regards to any specific contract obligations.
  • Renewal letter should contain wording such as:  Please review your certificate holder listing shown below and indicate which should be renewed per your contract obligations (I know they won’t but I think you should still say it).
  • Decide on a specific length of time and utilize it for all clients and all certificate holders, such as three years total following first year as certificate holder.
  • There may be specific clients and specific client customers that you have already been advised that their contracts require notification through the statute of repose.  If you do not want those clients ticked off, you will need to identify them and put exceptions to issuance in place.


Question 2 - Construction Liability

Please tell me where in the CG0001 policy that it gives automatic waiver as long as it was executed prior to a loss.  The only language I see in the form pertaining to waiver is as follows:

8. Transfer Of Rights Of Recovery Against
Others To Us
If the insured has rights to recover all or part of
any payment we have made under this Coverage
Part, those rights are transferred to us. The insured
must do nothing after loss to impair them.
At our request, the insured will bring "suit" or
transfer.

Answer by Marjorie L. Segale, AFIS, CISC, RPLU, CIC, CRIS, ACSR, CISR

You have exactly the right condition of coverage – Transfer of Rights of Recovery Against Others To Us

If the insured has rights to recover all or part of any payment we have made under this Coverage Part, those rights are transferred to us. The insured must do nothing after loss to impair them.

One of the many challenges that face anyone reading and trying to interpret the policy language is what the wording DOESN”T say.  The sentence in red does NOT preclude the insured from waiving rights of subrogation BEFORE a loss.  It only stops them from doing so AFTER a loss.

Now, even though the policy says this, most people will still ask for and you will still issue an endorsement.  It is just not necessary to do so.  This is why your underwriters never give you grief or charge you.  it is already in the policy.


 
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Laurie Zangwill Infantino
AFIS, CISC, CIC,
CRIS, ACSR, CISR

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Marjorie Segale
AFIS, CISC, RPLU,
CIC, CRIS, ACSR, CISR


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