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PUP Policy Changes

PUP Policy Changes. Effective July 1, 2010 for new and renewal business in most states. Overview of Changes. Policy Provision Changes Several changes designed to clarify RLI’s intent—not change it Moved Pollution Exclusion from a mandatory stand-alone endorsement into the Policy Provisions

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PUP Policy Changes

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  1. PUP Policy Changes Effective July 1, 2010 for new and renewal business in most states

  2. Overview of Changes • Policy Provision Changes • Several changes designed to clarify RLI’s intent—not change it • Moved Pollution Exclusion from a mandatory stand-alone endorsement into the Policy Provisions • State Amendatory Endorsement Changes • Most changes made to realign the State Amendatory to the new Policy Provisions numbering . • Some state insurance departments required us to make state specific changes to secure approval • RLI portal contains all new forms

  3. Policy Provision Changes • PART I – DEFINITIONS (pages 1-2) • The following definitions were revised: • A. Automobile • B. Basic Policy or Policies • M. Recreational Vehicle • N. Relative • O. Self Insured Retention • The following definitions were added: • J. Private Passenger Motor Vehicle • L. Punitive or Exemplary damages

  4. Policy Provision Changes (cont.) • PART II – WHO IS COVERED – INSUREDS (pages 2-3) • The following changes were made to this section: • States that a person or organization caring for your or a relative’s animal is covered only if the occurrence arise out of their custody of such animal. • States that the owner of an automobile, recreational vehicle or watercraft borrowed or rented by you or your relative is not covered.

  5. Policy Provision Changes (cont.) • PART III – WHAT WE WILL DO (pages 3-4) • The following changes were made to PART III regarding: • Our right and duty to defend. • Our intent regarding payment of premiums for appeal bonds. • Our responsibilities should the insurance company providing an underlying policy become insolvent.

  6. Policy Provision Changes (cont.) • PART IV - WHAT IS NOT COVERED – EXCLUSIONS (pages 4-6) • Changes were made to the following exclusions regarding: • A. Business use of an automobile. • G. Your activities as a board member or officer of a not for profit corporation or organization. • I. Intentional, purposeful, or criminal Act. • K. Uninsured/underinsured motorists coverage and no-fault or other first-party benefits. • O. Injury arising out of speed contests or racing of an automobile, recreational vehicle or watercraft.

  7. Policy Provision Changes (cont.) • PART IV - WHAT IS NOT COVERED – EXCLUSIONS (pages 4-6) (Cont.) • Changes were made to the following exclusions regarding: • Q. Discrimination. • R. Lead. • T. Coverage for rental properties. • U.1. Entrustment of real property, automobile, recreational vehicle or watercraft to others. • U.2. & U.5. Coverage for injury caused by animals. • V. Speed and length criteria for watercraft exclusion. • W. Fungi

  8. Policy Provision Changes (cont.) • PART IV - WHAT IS NOT COVERED – EXCLUSIONS (pages 4-6) (Cont.) • These additional exclusions were added: • Z. Punitive and exemplary damages exclusion • AA. Prior personal injury exclusion • Moved the pollution exclusion from a mandatory policy endorsement into the policy provisions (exclusion BB.)

  9. Policy Provision Changes (cont.) • PART VI – CONDITIONS (pages 6-8) • We have combined PART V – YOUR CONDITIONS UNDER THIS POLICY and PART VII - OTHER CONDITIONS from the previous version of the Policy Provisions into PART VI – CONDITIONS • The Primary Insurance Requirements (condition A.) was incorporated from the Declarations to the Policy Provisions • Exemplary Damages (condition K.) was added

  10. Policy Provision Changes (cont.) • PART VI – CONDITIONS (pages 6-8) • Changes were made to the following sections of Conditions: • B. Duties in the Event of an Occurrence Offense, Claim or Suit • D. Legal Action Against Us • E. Our Right to Recover Payment • J. Other Insurance • N. Concealment - Misrepresentation

  11. What do you need to do? • Familiarize yourself with the changes. RLI’s intent is not changing but we are clarifying that intent to avoid confusion. • Share this information with all of your production sources. Put this PPT as a link from your website and send blast e-mails to your sub-agents.

  12. What do you need to do? (cont.) • When our underwriting or coverage intent is in doubt, ask RLI! Old e-mails with guidance or interpretation may no longer be accurate. • Review your old notes from RLI where an underwriting interpretation has been made. Update your notes according to the new language and provisions.

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