Insurance Coverage Requirements - Don't Be Left In The Cold Most insurance policies, especially CGL (Commercial General Liability) policies, place certain obligations on the insured, which must be satisfied before the insurance company is obligated to cover a loss. Therefore, it's important to know what circumstances could cause the insurer to deny coverage. The below is an examination of the typical insured obligations for common policies and how you can ensure you will have coverage when you need it.Premiums Although this may be obvious, payment of premiums is required before a claim can be considered covered. It is smart business practice for construction companies to maintain a company calendar, listing the expirations of all licenses, insurance policies, leases, etc., as well as to plan ahead for timely renewals. By statute here in New York, insurers must give notice of cancellation due to non-payment prior to cancellation becoming effective.Notice An insured's duty to timely report an occurrence is distinct from its duty to report a claim (American Tr. Ins. Co. v. Sartor, 3 NY3d 71, 75 [2004]). Most policies include provisions stating how and when the insured must give the insurer notice of an accident, occurrence, claim or potential claim.Typically, with respect to an accident or occurrence,http://nikefreerun.blogeasy.info/, which may give rise to a claim, the insured must provide notice to the insurer 'as soon as practicable after such an occurrence.'Where an insured is provided notice of an actual claim, the duty typically imposed on the insured shifts to providing notice 'immediately upon knowledge of a claim.'The manner in which notice is to be provided is usually stated. Typically written notice is to be provided within a stated number of days. In New York, such notice provisions are routinely enforced and a failure to comply with the notice provision without valid excuse will relieve the insurer of its obligation under the policy for that claim (Security Mut. Ins. Co. of New York v. Acker-Fitzsimons Corp., 31 N.Y.2d 436, 340 N.Y.S.2d 902, 293 N.E.2d 76(1972).The duty to provide notice, however,Nike Free, is more than just an obligation to notify. Under most policies, the insured is also required to promptly forward all legal documents in relation to the occurrence. While failure of the insured to comply will not automatically relieve the insurer from coverage, it does allow for the insurer to be removed from coverage if the insurer can also establish that it has been prejudiced or harmed by the late service of such documents.Cooperation in the Investigation and Defense of Claims It is the insureds duty to assist in the gathering of documents, photos, witnesses, plans, specifications and correspondence related to a claim. The insured is also commonly expected to participate in any depositions, hearings, trials as may be required.Following the above will ensure that an insurance provider will not have grounds to escape coverage because of any failure on the part of the insured's to comply.It would also be wise to not only review your entire insurance policy upon the happening of an occurrence, but also to preserve your rights to sue your insurer should they fail to provide proper coverage. As soon as an occurrence occurs which could result in a claim,Nike Free, review your policy and calendar when a proof of loss must be filed and when an action must be commenced.