[Imagery:] If you want, you could pick any of the bolded topics and use a related image. Or, you can go with the focus of the article – revisions to homeowners’ policy forms.
REVISIONS FORTHCOMING: A LOOK AT SOME HO POLICY CHANGES FROM THE ISO By Kevin C. Amrhein, CIC The year was 2011. While you were watching “Harry Potter and the Deathly Hollows: Part II” and jamming to Adele’s “Rolling in the Deep” (that year’s highest grossing film and top single), the folks at the ISO were releasing a major revision to its Homeowners’ form – their first in 11 years. Eleven years later, with a tentative release date of March 2022, ISO is at it again. 4
The purpose of this article is not to provide a comprehensive review of all new and revised forms (there are resources available to agents looking for such.) Rather, I’ll highlight a few things that peaked my specific interest. In no way is it my intention to deemphasize the importance of other updates I’ve not specifically mentioned here. Virtual Currencies – Like it or hate it, crypto is everywhere. Your personal lines insureds are buying/ trading/mining this stuff and, when AUGUST 2021
something goes wrong (think theft), may assume they have coverage. To clarify, ISO has added Virtual Currencies to the list of property not covered. Definition of “Motor Vehicle Liability” – Current wording would likely exclude the maintenance, occupancy, operation, use, loading or unloading of such vehicle or craft by any person. Intended or not, a result of this wording is the possible exclusion of coverage should the insured be liable as a social host for
