| Mold: Insurance Industry Response | ||
|
||
|
||
|
Mold coverage in liability policies Liability from mold exposure is a huge issue. We're talking about claims in the tens of millions! Ouch! Clearly, liability coverage for mold is something agents should become familiar with. What liability policies might provide coverage? Homeowners Policy (Section II) Homeowners Policy is a logical starting point for liability. At present, there is no specific pollution exclusion in the policy. Court cases tend to conclude that mold is not a "pollutant." Most carriers have now filed their own mold exclusion for use with the homeowners coverage forms. The Departments of Insurance of various jurisdictions (e.g., Texas) may be unwilling to allow modifying exclusions. Recently approved limitation on the homeowner's commercial property section applies only to dwellings and other structures as well as contents, does not cover property "loss of use," and has a cap of $5,000. |
||
|
Next Page >
|
||
| ||
|
© Copyright CEfreedom.com and Insurance Skills Center. All Rights Reserved. |
||
| Not only are policy forms, clauses, rules and court decisions constantly changing, but forms vary from company to company and state to state. This material is intended as a general guideline and might not apply to a specific situation. The authors, LunchTimeCE, Inc., CEfreedom, and Insurance Skills Center, and any organization for whom this course is administered will have neither liability nor responsibility to any person or entity with respect to any loss or damage alleged to be caused directly or indirectly as a result of information contained in this course. |
