Question

 Question 1:

 What requirements apply to the aircraft or vehicles peril?

 Question 2:

 What aspects of loss does the sprinkler leakage peril cover in addition to water damage to covered property?

 Question 3:

 How were property insurance policies modified in response to the concurrent causation doctrine?

 Question 4:

 Regarding commercial propenty insurance, in addition to the peris covered by the Causes of Loss-Basic Form, what are three perils that are covered by the Causes of Loss-Broad Form?

Answer 1

Answers

1. The requirements that applied to the aircraft or vehicles perils are based upon the policy that if there is a direct or physical damage caused to an aircraft, vehicles, etc., comes under the coverage of the policy. The aircraft peril is dealt under a separate peril under Form 2, No. 7 whereas the vehicle peril is mentioned in No.8. The damages or losses caused by the party insured against the aircraft or vehicle is not be included in this type of coverage.

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2. In addition to water damage to covered property, the sprinkler leakage perils cover those losses which are happened by the water leakages like fire and explosions, devastation of the property, etc., But this does not cover the damages occurred to the property when it is being in construction or not occupied by the tenants over certain time period.

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3. There are some modifications in property insurance policies in response to the concurrent causation doctrine. They are the damages which occurred by the two or more reasons (causes) in which the first one is covered under the insurance policies whereas the second one is excluded. They may happen at the same time or at a different time like one after the other. But both the losses are covered by the insurance company in these types of cases.

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4. There are three perils that are covered by the causes of Loss-Broad Form under the section CP 10 20. They are,

• It covers the basic form of insurance like damages occurred by explosion and lighting, aircraft or vehicles, sprinkler leakages, etc.,
• In broad terms, it also covers the damages occurred by the falling of objects like overweight snow or ice, water damages, etc.,
• In some cases, it covers the loss happened due to fungus or any damages occurred like total collapse of the properties, etc.,