This case involves a large garden center that suffered extensive damage due to an electrical fire. After the fire, it was discovered that the business lacked the proper insurance coverage related to the damage to its property and interruption of business that the fire caused. The garden center, which operated several locations in its region, allegedly had proper insurance for all of its locations except for the one involved in the fire. It was alleged that the company’s insurance broker was at fault for not selling them the proper coverage.
Question(s) For Expert Witness
- 1. Please describe your experience as an underwriter, specifically for commercial property insurance.
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2. Should the insured's broker have been aware of their previous policies and current needs, and if so, pick a policy that covered them adequately?
Expert Witness Response E-132855
I worked as an insurance company commercial lines Underwriting Manager and Territory Manager for eight years with direct responsibility for production of new business and renewal of existing business. My accounts included property, as well as other lines of business. I also audited policies that were written by my team. I also taught Certified Insurance Counselor (CIC) classes for the National Alliance For Insurance Education & Research for fourteen years that included a four-hour segment on Commercial Property. I can determine if the insured broker should have been aware of the previous policies/current needs. This situation may involve a Value Reporting Form (ISO Form CP 13 10), which I am very familiar with.
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