Insurance News
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Top Causes of Loss in the U.S. and the World
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 […]
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Marijuana Use Linked to Increased Car Crashes
December 15, 2018
Although the workplace impact of marijuana in states where it’s been legalized has mainly been a workers compensation concern, a recent study now links marijuana use to increased auto crash claims. In four states where marijuana is now legal — Colorado, Nevada, Oregon and Washington — the frequency of collision claims filed with insurers were […]
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What’s a “Reservation of Rights” Letter?
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 […]
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Do You Need Professional Liability Insurance?
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 […]