February 4, 2019
There are insurance coverages that all businesses need, some that all businesses should consider, and some that you need only if you have special risk exposures. Need to Have Commercial general liability (CGL) is essential for every business. It will pay your legal costs, along with any judgments or settlements, when you are legally obligated […]
January 23, 2019
One of the most effective and simplest ways of protecting your organization from liability due to contractors’ and subcontractors’ operations is with Additional Insured coverage. Liability insurance covers you from losses due to claims your company, its employees or products or services caused harm or wrong to a third party. Sometimes, however, your organization can […]
January 9, 2019
The largest financial losses worldwide come from fires/explosions and aviation incidents, according to an analysis of the Top Causes of Loss of 470,000 insurance losses around the world by Allianz Global Corporate & Specialty (AGCS) Insurance. Here are a couple of other quick takeaways from the claims review: Increased Litigation Costs: In general, litigation is […]
November 20, 2018
And what should you do if you get one? Your organization has just been sued, and you’ve notified your liability insurer as required by the policy. You think all’s taken care of…when you receive a reservation of rights letter from the insurer. What does this mean, and what should you do? Practical Risk Management defines […]
November 10, 2018
Unless you’re an attorney, doctor or accountant, it may not be obvious to you that you may need professional liability insurance. Forty percent of businesses believe they may have professional liability risks but have not purchased insurance for it, according to a recent survey of small business owners by The Hanover Insurance Company. Over the […]
October 30, 2018
If it’s been one or two years since your last risk and insurance policy review, you are likely due. Your operations have probably changed. Read the list below, ask yourself these questions and decide if it’s time to call your broker. Don’t forget there are many exposures that may have seemed relatively unlikely in the […]
October 20, 2018
Auto accidents cost hundreds of billions of dollars each year and in some places, like New York City and Los Angeles, nearly one out of three accidents may not be an “accident” at all, according to the National Insurance Crime Bureau (NICB). In one type of fake accident, dishonest drivers maneuver innocent drivers into car […]
October 10, 2018
You cannot prevent lightning from striking, but you can take steps to minimize the damage it can cause. Deaths by lightning in 2018 are down so far from the average (18 fatalities vs. 49 on average). But lightning is the leading cause of injury and death from natural disaster other than floods. However, even though […]
October 6, 2017
One of the most certain things in life is uncertainty. Your dog could bite the neighbor’s kid. Your teen driver could hit a cyclist. A guest could fall down your stairs. A rainy morning commute on worn-out tires could result in a multi-car accident. And you could be held liable to others for the cost […]
