Chapter 19 — Common Disaster A set of circumstances in which two individuals die apparently simultaneously State of Washington has adopted the Uniform Simultaneous Death Act If they die within 120 hours of each other Tort Reform Ideas - Cap noneconomic damages Reinstate the “state of the art” defense - Product liability cases Restrict punitive damages Modify the collateral sources rule - Collecting from other collateral sources Modify the joint and several liability rule Greater use of alternative dispute resolution Property & Liability Insurance Forms Property and liability insurance can be purchased in a monoline contract. Alternatively, a multiple-line policy may be purchased that combines property and liability coverage. Multiple line package policies have several advantages Multiple line = Package policies - More complete coverage Common expiration date Lower cost than buying coverages separately Chapter 22: Homeowners – Section I Several HO forms are available. We’ll examine forms prepared by the insurance services office (ISO). ISO offers a variety of forms to fit the specific needs of consumers. The most popular form is the ISO HO-3. The HO-4 is for renters and the HO-6 is for condominium unit owners. Section I of HO policies provides property coverage. Section II (Chapter 23) provides personal liability and medical payments to others coverage. HO-3 Section I of the HO-3 Coverage A: Dwelling Coverage B: Other Structures Coverage C: Personal Property Coverage D: Loss of Use (home value?) (10% of A) (50% of A) (30% of A) Additional coverage can be purchased if needed, and the contract may be endorsed to provide broader coverage. Coverages A & B are all-risk coverages. Coverage C is a named-perils coverage – (fire, lightning, wind, hail, vandalism, theft, smoke, etc.) Coverage C exclusions: Property separately insured, pets (birds, animals, fish), motor vehicles, aircraft, property of roomers/boarders, etc..
