![]() ![]() Why did the claims adjuster ask this question? Because he knows that homeowners policies often cover limited amounts of business personal property. “Thank you,” says the claims adjuster, as he and his calculator slither out the door. ![]() The claims adjuster is ready to pay for the loss, but just before writing the check, asks a curious question: “Do you have a homeowners policy?” “Yes, of course,” you say. You file a claim on your business owner’s policy to recover the loss. One day while making s’mores (for a little R&D, of course), your bonfire gets out of control and burns your home to the ground, including your entire marshmallow inventory. And of course, you have a homeowners policy on your home. You have a business owner’s policy that covers your inventory. (Yes, these really exist and they’re incredible – see here). Let’s say that you – a business owner – have a home based business selling gourmet artisan alcohol-infused marshmallows online. Required Endorsements The Commercial General Liability policy shall contain the following endorsements, which shall accompany the Certificate of Insurance:Īutomobile Insurance Comprehensive Automobile Liability Insurance insuring bodily injury and property damage arising from all owned, non-owned and hired vehicles, if any, with minimum limits of liability of $1,000,000 combined single limit, per accident.That begs the question: what is contribution? It is simply sharing in the payment of a claim. ![]() Any insurance or self-insurance maintained by the Department, its officers, officials, employees, or volunteers shall be excess of Contractor's insurance and shall not contribute with it.Īdditional Insured Endorsements An original Additional Insured Endorsement, signed by an authorized insurance company representative, must be submitted to the City of Sparks, by attachment to the Certificate of Insurance, to evidence the endorsement of the City of Sparks as additional insured.Īdditional Endorsements The Auto and Commercial General Liability Policies shall name the Texas A&M University System Board of Regents for and on behalf of The Texas A&M University System as additional insured’s. Primary Insurance Contractor's insurance coverage shall be primary insurance with respect to the Department, its officers, officials, employees, and volunteers and shall apply separately to each project or location. Insurance Endorsements The insurance policies shall contain the following provisions, or Consultant shall provide endorsements on forms supplied or approved by the City to add the following provisions to the insurance policies: Related to Primary Insurance Endorsements Maintenance of the Primary Insurance Policies Collections Thereunder.Maintenance of the Primary Insurance Policies. ![]()
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January 2023
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