I am thankful for this article as I did not know of “Illusory Coverage” until now and I’ve been in the business more than thirty years. I am interested to know if Illusory Coverage arguments can be made for property coverages as well. I recently studied a policy and it’s endorsements that provide a whole lot of nothing but generate a 100% premium surcharge. I wish I had time to investigate every situation I come across that smacks of impropriety and see it through to correction. I guess that will be my new gig after retirement.
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I am thankful for this article as I did not know of “Illusory Coverage” until now and I’ve been in the business more than thirty years. I am interested to know if Illusory Coverage arguments can be made for property coverages as well. I recently studied a policy and it’s endorsements that provide a whole lot of nothing but generate a 100% premium surcharge. I wish I had time to investigate every situation I come across that smacks of impropriety and see it through to correction. I guess that will be my new gig after retirement.
Two more articles, one from the late, great Don Malecki, CPCU, ARM and the other from my quill:
https://insurancecommentary.com/worthless-pieces-of-paper-part-2/