Most Commonly Overlooked Coverages Pt. 1

Most Commonly Overlooked Coverages Pt. 1
May 17, 2016 BSGIns

Last week we spoke about the importance of Assault & Battery coverage and how it is commonly overlooked. We also gave some examples of when this coverage comes into play. To stay with that theme we will be reviewing some of the most overlooked coverages important to your business.

Care, Custody & Control

This coverage is applicable when you or one of your employees is guarding a location where you might be in charge of protecting equipment or property. If some of your client’s property or equipment is damaged as a result of your negligence, this coverage will then come in to play.

Below is a claim example of Care, Custody & Control.

A fire started on the middle floor of a building and caused $200,000 in damage.  There was a delay in the officer on duty calling the Fire Department.  Ultimately, our insured was found negligent and assigned $100,000 in damages.  The property damage was covered under the Care, Custody & Control.  A secondary claim was brought onto insured through E&O for lack of hiring and training.