“Business Use,” Personally Owned, and AI Driven
Total Credits: 1 including 1 CE Credit
- Average Rating:
- 10
- Categories:
- Big “I” Virtual University | Personal Lines | Personal Lines - Advanced
- Faculty:
- Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS
- Course Levels:
- All Levels
- Duration:
- 1 Hour
- License:
Description
For most PAP insureds, the business use exclusion is irrelevant. In practical application, the PAP extends coverage for the business use of a "your covered auto" provided it's not used to carry people or property for a fee (i.e., Uber or Lyft). Absent material misrepresentation in the application regarding the use of the vehicle, the PAP responds to an incident arising from most business use.
However, this is ISO language. In this session a non-ISO form is quoted – and it is very different than the ISO form – so much so that an incident covered by the ISO form is NOT covered by the proprietary form.
In this session we:
- Detail the PAP’s business use exclusion;
- Look at the breadth of coverage in the ISO PAP because of exceptions; and
- Highlight the differences between ISO wording and at least one proprietary policy.
Personally-owned autos belong on a Personal Auto Policy. However, sometimes you are forced by the insured to place the individually-owned auto on the BAP. Or, you add a personally-owned auto to the BAP without knowing it. If you are put in this position, there are certain steps you must take to avoid making a major mistake. And if these steps aren’t taken – there are major gaps in coverage.
This session details how to avoid these problems.
Basic Course Information
Learning Objectives- Applying the “Business Use Exclusion” in the Personal Auto Policy
- Why Personally-Owned Autos Don’t Belong on the BAP
Course Materials
| IMPORTANT_CE Credit Instructions_Read Before Webcast_Updated (752.6 KB) | Available after Purchase | ||
| “Business Use,” Personally Owned, and AI Driven Outline (17.7 KB) | Available after Purchase | ||
| “Business Use,” Personally Owned, and AI Driven Handout 1 of 2 (1.2 MB) | Available after Purchase | ||
| “Business Use,” Personally Owned, and AI Driven Handout 2 of 2 (123.7 KB) | Available after Purchase | ||
Faculty
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS Related Seminars and Products
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Independent Insurance Agents and Brokers of America (Big "I") Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry.
During his career, Boggs has authored more than 300 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 13 insurance and risk management books:
- "The Insurance Professional's Practical Guide to Workers' Compensation: From History through Audit," now in its second edition;
- "Business Income Insurance Demystified: The Simplified Guide to Time Element Coverages," now in its third edition;
- "Property and Casualty Insurance Concepts Simplified: The Ultimate 'How to' Insurance Guide for Agents, Brokers, Underwriters and Adjusters;"
- "Wow! I Never Knew That! 12 of the Most Misunderstood and Misused P&C Coverages, Concepts and Exclusions;"
- "Insurance, Risk & Risk Management! The Insurance Professional's Guide to Risk Management and Insurance;"
- "Workers' Compensation: How You Can Effectively Answer Your Clients 12 Most Commonly Asked Questions;"
- "Glossary of Insurance Terms;"
- "Choosing the Best Risk Financing Option;"
- "Writing Property and Liability Coverage for Condos;"
- "The Truth about Enterprise Risk Management;"
- "The Experience Mod Worksheet;"
- "What has ISO Done to us Now?" and
- "Cancellations, Non-Renewals & Conditional Renewals: THE Insurance Professional's Guide to Statutory Insurance Carrier Notification Requirements for All 50 States!"
Boggs is a regular speaker at industry events, speaking for groups such as the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), and the CPCU Society.
A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist
State Specific Details
State Approval Information Details TX - This course is approved for 1 hour of credit - # 135589Reviews
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