Rarely does any insurance practitioner, even hard core ones, undertake to read an entire policy.
Generally a specific answer is being sought or a problem is being researched requiring review of only individual parts of the coverage form and/or its applicable endorsements to develop the required answer or opinion.
Join Academy of Insurance this Thursday for
a webinar explaining each of these 12 rules.
Whether reading an entire policy or only sections, 12 specific "rules" can be applied in reading the policy form to make finding the needed answer easier and quicker.
These are not shortcuts to reading the policy, as there is no shortcut to reading any legal document, just pointers towards correct policy interpretation and application.
Twelve Rules for Reading an Insurance Policy
- Ascertain who qualifies as an insured.
- Annotate the policy form.
- Confirm all forms and endorsements are attached.
- Read the Insuring Agreement first.
- Read the exclusions.
- Read the exceptions to the exclusions.
- When the policy refers to another section, read that section immediately.
- Pay attention to the conjunctions used in a list.
- Pay attention to key words and phrases.
- Read and understand the definitions of specifically defined terms.
- Understand and make sure all the policy conditions have been met.
- Confirm the coverage limits are adequate for the loss.
This Thursday, Academy of Insurance and instructor Christopher J. Boggs host a
webinar explaining each of these rules and detailing several of them.
Click here to reserve your spot »
In addition to these rules, the webinar explores why exclusions exist and the various classes of exclusions found in most property and casualty policies.
Does Coverage Exist Flowchart
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(plus, all registrants will receive the recordings for anytime viewing)
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