Chip Merlin | Property Insurance Coverage Law Blog | December 9, 2019
As a follow up to the Insurance Protection Gaps webinar mentioned in yesterday‘s post, Water Loss From Toilet Overflow Is Covered Despite State Farm Denial, Professor James Hilliard of Temple University’s Department of Risk, Insurance, and Healthcare Management provided a basic outline and his presentation is somewhat similar to Professor Jay Feinman’s much more detailed work on the matter.
When public policy makers are having those in academia acknowledge that there is a problem, this is usually a good first step to the next question—how to we go about solving the issue?
Certainly, one way is to stop allowing insurance companies to clandestinely write their way out of coverages. For the same reason insurance departments mandated minimum requirements found in the Standard Fire Insurance policy which still exist in many states, we should require a minimum requirements and safeguards of insurance for the all-risk product.