Key Points Page
- Insurance Coverage for Collapse1
- Doctrine of Concurrent Causation2
- Evolution of Coverage — Insurance Industry Response3
- Homeowners (HO 00 03 10 00)5
- Commercial Property6
- Two Positions on the Meaning of Collapse6
- Collapse Coverage Conclusion8
- A Word About Builders Risk Insurance9
- Who Wins When Policy Language is Ambiguous?10
- Insurance is an Intangible10
- A Contract of Adhesion11
- What "Contract of Adhesion" Means for Insurers11
Insurance Coverage For Collapse: How Has It Changed and Why?
“To fall or cave in; crumble suddenly.”
Webster’s lead definition of “collapse” seems so clear and straightforward as to preclude the possibility of such an event being debatable. Yet in the field of property insurance, few concepts have been as open to interpretation.
Insureds, insurers, insurance policy drafting organizations and the courts have all weighed in, with the results ranging from the emergence of both conservative and liberal views of the coverage, to the development of new policy forms to address it.
In this issue of Adjusting Today, expert Robert Prahl takes a close look at insurance coverage for collapse, including how it has evolved, how it has been interpreted by insurers and the courts, and some of the latest forms developed by the insurance industry to further define it.
In an appropriate adjoining article, Mr. Prahl offers insight into the subject of policy language ambiguity, including who wins in such situations and why the adjuster’s role in interpreting complex policy language is especially important.
From cover to cover, it’s interesting and informative reading for today’s property insurance professional!