November 12, 2020
While estimates vary, the insurance industry is currently expected to pay as much as $110 billion in claims related to the pandemic in 2020, according to Lloyd’s. “The coronavirus outbreak has reduced risk in some areas while, at the same time, changing and heightening it in others,” according to Chief Claims Officer Thomas Sepp of […]
October 29, 2020
The Americans with Disabilities Act (ADA) and amendments, which applies to employers with 15 or more employees, says employers cannot discriminate against individuals with disabilities in hiring, promoting, retaining and other aspects of employment. The ADA requires affected employers to provide a “reasonable accommodation” to allow these individuals to perform their job duties. Employers do […]
October 15, 2020
If your business is the typical small or mid-sized business, you probably have somewhere between $500,000 and $2 million in liability coverage under your business owner policy (BOP) or commercial general liability policy. How does umbrella coverage work with these policies to provide extra liability protection? In addition to your BOP, you might also have […]
October 1, 2020
The Teague Insurance team and VP Ernie Togerson were recently featured in an ABC 10 news story. The team has been doing their part to support the Covid ICU team at Sharp Grossmont Hospital by providing a weekly meal to the night shift since the start of the lock down. You can learn more about […]
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 […]
September 10, 2020
Many businesses have adjusted to the pandemic by implementing work from home arrangements for their employees. This is often an incomplete or inadequate solution though. The results can be less than ideal for the business, its employees and customers. Some businesses cannot even survive let alone thrive under these conditions and reopening at least to […]
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 13, 2020
By Stephanie Calhoun, CIC As I worked on my planning for 2020, I never anticipated that we would have to lead the team through a pandemic. As the Operations Manager of our Customer Service teams, I planned 2020 as usual; push process initiatives forward, develop and promote employees, lead, mentor and coach towards growth. But […]
