October 11, 2019
Most people would rather go to the dentist than try to read an insurance policy. Like most things that seem intimidating at first, though, when you break it down, it makes a lot more sense. There are four basic parts to every insurance policy: Declarations Insuring agreement Exclusions Conditions Declarations: The declarations introduce your coverage. […]
September 30, 2019
There are benefits to working from home, but also risks to both employees and employers. Working from home among non-self-employed people has grown by 140 percent since 2005 — ten times faster than growth of the workforce itself. There are plenty of benefits to both workers and employers when employees get online to work remotely. […]
September 16, 2019
Businesses where a shooting occurs risk not only potential lawsuits from innocent customers and bystanders but they will also very likely suffer some business slowdown from loss of reputation. Gun violence affects all aspects of society, especially businesses, such as the Walmart in El Paso, Texas and the merchants in the Oregon District of Dayton, […]
August 26, 2019
At Teague Insurance, we enjoy giving back to our community. Once again, we are a sponsor of the La Mesa Oktoberfest. Located on La Mesa Boulevard and right around the corner from our office, we can’t wait to be a part of the excitement. This year’s celebration takes place October 4-6. To learn more about […]
August 20, 2019
Standard business general liability (GL) policies provide little coverage for pollution damage, including toxic spills like the one in West Virginia in 2014. Today most companies that store or handle potentially toxic materials purchase a separate environmental liability policy. These policies cover the exposure that the GL policy excludes. Property owners purchase environmental impairment liability […]
August 6, 2019
If you manufacture, sell or distribute any kind of product, you probably need some kind of protection from product liability claims. What Does Product Liability Insurance Cover? Product liability insurance protects the manufacturer, distributor or seller of a product from legal liability resulting from a defective condition that caused personal injury or damage associated with […]
July 24, 2019
Your organization has just been sued, and you’ve notified your liability insurer. Then you receive a reservation of rights letter. Here’s what it means and what to do. Practical Risk Management defines a reservation of rights as “an insurer’s notification to an insured that coverage for a claim may not apply. This allows for an […]
July 10, 2019
Theft is one of the biggest reasons businesses often struggle. Consider these recent findings: The University of Florida National Retail Security Survey estimates total retail losses of $44 billion every year, with 30-40 percent of those losses walking straight out the door. In a survey conducted by Kessler International, 95 percent of employees admitted to […]
July 3, 2019
We are often asked, “What limit of coverage should I have?” While there are several factors to consider when making this decision, we suggest considering these top three: What assets am I trying to protect? Is there someone outside of our company that requires specific limits of coverage? What is my attitude toward taking/retaining risk? […]
June 19, 2019
Due to the lack of actuarial data, it’s been difficult to price cyber liability insurance. This is one reason Insurers depend so much on evaluating each insured according to its risk management procedures and risk culture. As a result, cyber risk coverages are more customized and, therefore, can be more costly, depending on the vulnerabilities […]
