The discussion will continue in next month's Dec Page.

Questions and Answers

Does the theft or conversion exclusion under GKLL coverage exclude a claim of property damage when an employee takes a customer's car for a joy ride? See Theft or Conversion Exclusion under GKLL Coverage. Is coverage for hired auto loss of use expenses under the BAP limited to 30 days, and if so, why? See Hired Auto Loss of Use Expenses. These questions and answers are on the Q&A 1601 page.

If an insured is a limited liability company and has interests in several separate companies, how is its status as an insured determined with respect to the separate companies? See Limited Liability Company as an Insured. This question and answer is on the Q&A page 1602.

Standard Fire Insurance Policy

The standard fire insurance policy has a long history, and is used by many states as the basis for dwelling or homeowners policies. The discussion on this subject has been updated and can be seen here: Standard Fire Insurance Policy.

Overhead and Profit

Overhead and Profit is a controversial subject of property insurance. How much should be paid and when? This article examines the questions surrounding overhead and profit, the three trade rule, the reasonably likely standard, and case law addressing the issues. See Overhead and Profit.

Valued Policy Laws

The discussion on the Misc. Property M.125 pages provides a summary of the valued policy laws of those states that currently have such laws. Each state's treatment includes the kind of property specified in the law as subject to the valued policy law, the perils to which the valued policy law applies, and other comments concerning special or noteworthy provisions or interpretations of that state's valued policy law. See Valued Policy Laws—State Summary.