03.07. Other Sources of Recovery

  1. Other sources of recovery
    • noninsurance agreements
    • negligent third parties
    • other insurance in the same policy
    • other insurance in a similar policy
    • other insurance in dissimilar policies
  2. Noninsurance agreements
    • lease making tenants responsible for damages
    • credit card protection plan
    • extended warranty
  3. Negligent third parties
    • right to recover, even if TP doesn't have liability insurance
    • labeled subrogation instead of 'other insurance'
  4. Other insurance in the same policy
    • scheduled items may be covered by unscheduled provisions
    • overlap between personal / commercial property
    • medical expense may apply under liability, medical payments, and uninsured motorists
    • in some cases duplicate coverage may allow stacking limits
  5. Other insurance in similar policy
    • eg. owning HO insurance on soon-to-be-sold house and new house would duplicate coverage for personal property
    • usually insurers share portions of the loss
  6. Other insurance in dissimilar policies
    • valet parking may be covered by both general liability and commercial auto
    • auto injuries while performing work-related activities - personal auto, medical insurance, workers comp
    • most difficult type of coverage coordination to resolve
Card Set
03.07. Other Sources of Recovery
Other Sources of Recovery