Some policy forms I recently came across for the first time that may be good to be aware of and to be on the lookout for:
- A commercial auto exclusion for physical damage to wraps. It is a 2021 ISO commercial auto endorsement. Wrap refers to complete or partial covering over the original paint of an auto to change its appearance for marketing or advertising purposes. It is excluded from coverage regardless of the loss.
- A public entity EPL policy front/back pay coinsurance endorsement. The named insured shall bear a 50% coinsurance percentage for any damage for front/back pay covered by the policy. Carrier will not pay any damage until the named insured pays it percentage of coinsurance.
- A crime insurance exclusion for all non-fungible tokens. NFT’s are excluded from all insuring agreements on the policy. One carrier is mandating this endorsement on all policies even for an insured not involved in any technology related business.