Notes
1. The discussion of homeowners insurance in this chapter is based on the Fire, Casualty & Surety Bulletins, Personal Lines volume, Dwelling section (Erlanger, KY: National Underwriter Company); Personal Lines Pilot, International Risk Management Institute (IRMI); Diane Richardson, Homeowners Coverage Guide, 4th ed., Erlanger, KY, 2011 and the copyrighted homeowners forms drafted by the Insurance Services Office (ISO).
2. The revised HO-3 policy explicitly states that “direct physical damage” must occur from an abrupt collapse for there to be coverage. Wording in the previous form created ambiguity over whether a building that was damaged but had not collapsed or that collapsed over time was covered. This form makes it clear that damage ...
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