Protect Yourself When Working with Contractors
June 2, 2023
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.
Tort Reform Movement Gains Momentum in Florida
May 19, 2023
In April, Florida’s Governor DeSantis signed a tort reform bill that will have a significant impact on insurance litigation.
Cyber Threats Drive Concern About Vehicle Vulnerability
May 5, 2023
The technological sophistication of today’s cars and trucks is making them increasingly vulnerable to cyber security threats.
Common Misconceptions about Directors and Officers insurance
April 19, 2023
One of the major misconceptions about Directors and Officers insurance is that it’s only for publicly traded companies or non-profits. Chubb Insurance recently addressed this and other misconceptions: D&O is unnecessary because your business is privately-owned.Privately-owned companies face virtually the same exposures as publicly traded companies, but private company D&O policies can insure much more […]
Why You Might Need Surplus Lines Insurance — Even if You’re Not a Celebrity
April 5, 2023
You’ve heard of celebrities who buy insurance on signature body parts — Keith Richard’s middle finger ($1.6 million), Dolly Parton’s Breasts ($3.8 million), Jennifer Lopez’s butt ($27 million) and Mariah Carey’s legs ($1 billion). These transactions take place in what’s called the surplus lines market. Lloyd’s of London (pictured here) is the most famous entity […]
What Is D&O Coverage?
March 22, 2023
Decisions made by the boards of private companies are not immune from public scrutiny. Security holders, employees, customers, suppliers, competitors, and even the government can sue a privately-owned company and its board of directors. Additionally, as leaders of the company, the directors and officers can be found personally liable for their management decisions. D&O policies […]
What Is Social Inflation?
March 8, 2023
We know what economic inflation is, which is bad enough, but social inflation can make claims costs rise even more, often well exceeding general economic inflation. Social inflation is an indicator of how society is shifting its preferences for determining who is best placed to absorb risk, according to a new white paper by the […]
Why You Need Equipment Breakdown Coverage
February 14, 2023
Equipment Breakdown insurance was formerly called Boiler & Machinery insurance. But they changed the name because these policies now cover so much more than boilers and machinery. Insurers introduced boiler and machinery coverage in the mid-1800s to cover valuable steam-powered machinery from explosion or breakdown, and to cover the equipment’s owner from liability for resulting […]
What Does “Proximate Cause” Mean in Insurance?
January 31, 2023
How does it apply in a case involving the ransomware payment from a cryptocurrency account? Proximate cause, which refers to the closest/first cause of an accident, is a basic principle of insurance. Although there are several classic examples of how proximate cause works, a case involving cryptocurrency was recently decided based on the principle of […]
8 Winter Driving Tips for Commercial and Personal Vehicle Drivers
January 14, 2023
Driving safely in winter weather can be challenging for even the most experienced driver. Whether your firm employs commercial vehicle drivers or most of the driving at your firm involves employees driving personal passenger vehicles, the following tips selected from the Federal Motor Carrier Safety Administration website will help drivers avoid dangerous situations, especially in […]