Business Personal Property Coverage – Duties Of Insured

Like all property insurance policies, the Business Personal Property (BPP) policy imposes a number of duties on the insured.  Insurance attorneys will tell these duties constitute conditions precedent to coverage; that is, the insured must comply with these requirements before the insurance company is obligated to pay any loss.  This requirement was made clear in the 1999, 5th Circuit opinion styled, Griggs v. State Farm Lloyds.  These duties generally include:  the insured must provide notice to the insurer of the loss  the insured must preserve the property as much as possible Continue reading

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