Failure to Read the Full Policy Defeats Insurance Claim

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Liability insurance is nothing but a run-of-the-mill contract. It seems to me that I am the only person who actually reads insurance policies I have acquired to defend or indemnify me.

In Bellet Construction Co. Inc. v. Tudor Insurance Co., et al 2020 NY Slip Op 33372(U), it became clear that RTFP (Read The Full Policy) is a rule that must be followed by every person seeking insurance, especially when seeking the position of an additional insured from another person’s insurance. Certificates of Insurance are limited to the date of issue and are a statement of opinion from a broker not an insurer. The prudent person seeking additional insured status must insist on seeing and reading the full policy. Had Bellet done so it would have been obvious to its risk manager that LSQ’s policy with Tudor provided no coverage to Bellet. Bellet has no one to blame but itself. Assuming that coverage exists is useless.