March 2013 Dec Page

Article of the Month

The article of the month, Standard Fire Insurance Policy, concerns the 1943 New York standard fire insurance policy. The idea and need for a standard fire insurance policy began in the late nineteenth century, and after different states at different times attempted to write such a policy, the 1943 New York standard fire policy became the norm; this policy is now accepted in nearly all states. Note that with the development of package policies, the standard fire policy is no longer required on packages; however, the provisions of the package policies must be at least as broad as those in the standard form.