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October 15, 2015  

 
 Q&A of the Week
Property Temporarily Off-Premises

A Connecticut subscriber recently asked the following question:

My question concerns the definition of "temporarily" as used in the business personal property off-premises at a temporary location coverage. We have an insured who is allowing a nonprofit use of a copy machine for a short, yet undetermined, period of time. While the copy machine is off our insured's premises, I assume there is coverage, but for how long?

ANSWER: Looking at the ISO CP 00 10, the policy does not define the term "temporarily" in the coverage extension for property temporarily off-premises at a location the insured does not own, lease, or operate. The ISO rules do not specify an amount of time. We did not turn up any case law addressing this term in property policies. Merriam-Webster Online defines "temporarily" as "during a limited time," which does not offer much more guidance on how long temporarily is, but it does indicate that it is a fixed time that does end at some point. So, if the insured was indefinitely letting the nonprofit use the copier, that is not the intent of the extension, but there is nothing in the policy to limit the amount of time it can be temporarily used—it just cannot be a permanent situation. 
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 What's New This Week in FC&S
Include Virtual Currency as Money

ISO has created a new endorsement, Include Virtual Currency as Money CR 25 46 11 15. This endorsement modifies both the Employee Theft and Forgery Policy CR 00 28 11 15 and the Government Employee Theft and Forger Policy form CR 00 30 11 15. Read More
 
 Litigation Watch
Minimum Auto Liability Limits

The injured passenger brought an action against the insurer of a vehicle seeking a declaration that the judgment against the driver, who was the son of the insured, was covered under the insured's auto policy. This case is Lyons v. Direct General Insurance Company of Mississippi, 138 So.3d 887 (2014).

Lyons suffered severe injuries in a single-car auto accident. The accident occurred when the car driven by Holliday, in which Lyons was a passenger, left the road and hit a tree. As a result of a lawsuit, Lyons won a default judgment of $72,500 from Holliday. 
Read More
 
 Fraud of the Week
Fraudulent Appraisals—Pennsylvania
AMOUNT: Unknown


A Pennsylvania woman already awaiting trial for insurance fraud has been charged with trying to get an appraiser to pass off altered documents as legitimate. Read More
 
   
 FC&S Ask the Experts
Did you realize that the Q&A section of FC&S is made up of questions submitted by subscribers like you?

Paid subscribers to FC&S Online or print FC&S Bulletins are invited to submit insurance coverage questions to the editors. We'll provide a personalized opinion within five business days. (We'll let you know if it will be longer than that. Sometimes we have to gather research or other supporting materials).

Who knows? Your question may be featured (anonymously) in the online Q&A of the Week or as an FC&S update.

Submit your coverage interpretation question right to the editors of FC&S for quick and reliable information. Ask our expert staff a question by clicking here.
 
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FC&S editors regularly conduct web-based demos of the service. Feel free to contact Christine Barlow, cbarlow@alm.com, to set one up! They only take 30 minutes, a small investment of time that will help you learn all that FC&S Online has to offer.
 
 Contact Us
As always, your comments and questions are welcome.

Contact us at:
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Phone: 800-543-0874
Fax: 859-692-2293
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FC&S Team
Kelly Maheu, J.D.
Publisher
  Diane W. Richardson, CPCU
Consulting Editor
Christine G. Barlow, CPCU
Managing Editor, FC&S
  Diana B. Reitz, CPCU, AAI
Consulting Editor
David D. Thamann, J.D., CPCU, ARM
Managing Editor, FC&S Bulletins
  Emily Brunner
Online/Print/Production Editor
Susan L. Massmann, CPCU
Managing Editor, Electronic Publications
  Tosha Brinkman
Marketing Manager
Barry Zalma, Esq., CFE
Contributing Editor
  Donna Cozatchy
Creative Director

 
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