December 2, 2022
A recent survey of risk managers—those charged with identifying, evaluating, and selecting the best techniques to mitigate risk—by Nationwide Insurance revealed that cybersecurity takes up a substantial portion of their budgets. 68% expect these budgets will continue to grow in the coming years. Nationwide’s previous studies have revealed that consumers as well as small to […]
November 22, 2022
In October, Munich Reinsurance Co., the world’s largest reinsurer, announced new stricter policies for investing in and underwriting oil and gas projects, drawing praise from environmental activists. Munich RE has said on its website that as of April 2023 it would not invest or insure projects involving new oil and gas fields or new midstream […]
October 28, 2022
If you read our story “Is Your Website Discriminatory?” you know that the website accessibility provisions in Title III of the ADA apply specifically to places of public accommodation. 42 U.S.C. § 12182(b)(2)(A)(iii). There is an issue, however, with how the phrase public accommodation Is defined. Last month a California state appeals court held that […]
September 23, 2022
Here are the top five future risks troubling the reinsurance companies of the world, according to Swiss Re — reinsurers are the ones that back up the primary insurance companies who actually put their names on the policies (the retail insurers). Legal tech — is AI rendering justice? Over the past decades, AI in law […]
September 16, 2022
Does your website violate the Americans with Disabilities Act (ADA) because it is not maintained in a manner accessible to blind or visually impaired people? As most employers know, Title I of the ADA, which applies to all employers, public and private, that employ 15 or more individuals, prohibits discrimination against individuals with disabilities in […]
August 25, 2022
Standard business general liability (GL) policies provide little coverage for pollution damage, including toxic spills like the one in West Virginia in 2014. Today most companies that store or handle potentially toxic materials purchase a separate environmental liability policy. These policies cover the exposure that the GL policy excludes. Property owners purchase environmental impairment liability […]
August 11, 2022
Your organization has just been sued, and you’ve notified your liability insurer. Then you receive a reservation of rights letter. Here’s what it means and what to do. The insurance reference resource Practical Risk Management defines a reservation of rights as “an insurer’s notification to an insured that coverage for a claim may not apply. […]
July 28, 2022
Recent technologies — from robotics to project management software — as well as better ways to identify and deal with risk are helping the construction industry save money and reduce accidents. Workforce Shortage COVID and its ramifications have placed a strain on finding good workers for most industries. This is no less true for construction. […]
July 15, 2022
On April 13, 2022, the Federal Emergency Management Agency (FEMA) released a new building codes strategy, defining the goals and objectives it will pursue to promote the application, adoption and enforcement of hazard-resistant building codes across the United States. The strategy focuses on three core goals: Integrating building codes and standards across FEMA, Strengthening nationwide […]
June 28, 2022
The typical equipment breakdown insurance policy includes the following coverages: Damage to “covered property” at the location named in the policy. Expediting expenses, to cover the costs needed to get insured equipment operational as fast as possible, such as expedited shipping and making temporary repairs. Business income and extra expense. Similar to coverage you should […]
