September 23, 2020
Parametric insurance is a type of insurance that does not indemnify the actual loss, but pays when something related has occurred with sufficient intensity to justify payment of a loss. Imagine an insurance policy that pays policyholders not because of damage to their property but due to wind velocities reaching a certain level or an […]
August 20, 2020
Entity Coverage/Allocation Provisions Claims can get complicated when the corporate entity is named as a defendant along with directors and officers. If the D&O policy does not include entity coverage, the insurer must allocate defense and settlement costs among the (covered) directors and officers and the (uncovered) entity to determine how much of these costs […]
August 6, 2020
Even before COVID-19, insurance for directors and officers (D&O) was experiencing a hard market. Premiums had increased 44 percent in the first quarter of 2020. Over the past few years there has been a steady increase in the number of lawsuits and the size of jury awards in cases involving D&O. And now with the […]
July 21, 2020
Driver mistakes play a role in virtually all crashes. That’s why automation has been held up as a potential game changer for safety. But autonomous vehicles might prevent only around a third of all crashes if automated systems drive too much like people, according to a new study from the Insurance Institute for Highway Safety. […]
July 7, 2020
Different policies cover different kinds of damage to property. When protestors gathered on the streets of our cities to speak out against the brutal killing of George Floyd, in many instances peaceful demonstrations turned into scenes of violence, vandalism and looting. The damage done to businesses is estimated at $25 million nationwide at this point. […]
June 3, 2020
Has your business been declared an essential service during the pandemic? If so, you are probably making home deliveries either for the first time or to a greater extent than before. Almost every state requires commercial auto insurance for businesses with vehicles titled to the company driven by employees. But what if employees use their […]
May 12, 2020
During a recent Coronavirus update meeting, President Donald Trump said that he thinks that many insurance companies should be paying business income losses due to the coronavirus pandemic. He acknowledged that many policies exclude events such as epidemics, but “in a lot of cases, I don’t see it. I would like to see the insurance […]
April 20, 2020
Underwriters use a variety of metrics to determine what to charge for EPLI and the scope of coverage to offer. The number of people you employ. Whether you’ve had prior suits lodged against your company. The percentage of employee turnover. Whether you have established rules and practices in place, such as an employee handbook that […]
April 6, 2020
Whether you’re dealing with existing employees or prospective employees during the interview process, every time your business interacts with people it faces the risk of an employment claim. Some of the typical claims brought against employers allege: Discrimination (based on sex, race, age or disability, for example). Wrongful termination. Harassment. Other employment-related issues, such as […]
March 17, 2020
An Update on Safety and Autonomous Vehicles (AVs) Nuro For the first time, regulators at the National Highway Transportation Safety Administration (NHTSA) have given permission to an AV manufacturer, Nuro, Inc., to deploy 5000 low-speed electric delivery vehicles without human controls like mirrors or steering wheels. The small, seat-less car, with gull-wing cargo doors on […]
