September 10, 2021
Insurance companies have been denying COVID-related business interruption claims unless the policy specifically includes damage from viral contamination. Attempts in Congress and state legislatures to pass legislation forcing insurers to cover COVID-related losses have been resisted by insurers who point out that paying such claims would make many companies insolvent. The National Association of Insurance […]
August 25, 2021
Commercial surety bonds can generally be divided into five types of bonds: License and Permit Bonds: Required by federal, state, or local governments as a condition for obtaining a license or permit for various occupations and professions. License and permit bonds include auto dealer bonds, mortgage broker bonds, contractor license bonds, and surplus lines broker […]
August 13, 2021
When insurance companies started offering cyber insurance a few years ago, it was to take advantage of what seemed like mostly just a marketing opportunity. In exchange for taking on a minor risk, the principal aim was to capture premium dollars. That was then. A new report from insurance credit rating agency A.M. Best calls […]
July 26, 2021
Surety premiums are only a fraction of property/casualty premiums ($8.6 billion versus $633 billion in 2019), but sureties play a critical role in our economy. According to the Surety & Fidelity Association of America (SFAA), surety contracts protect over $9 trillion in assets. Surety bonds and insurance policies both provide financial security, but in very […]
July 15, 2021
Latest EEOC guidance aims to help employers and employees understand how federal employment discrimination laws apply to mandatory vaccinations … and the rights and responsibilities of employers and employees at work during the pandemic. The U.S. Equal Employment Opportunity Commission (EEOC) on May 28th posted updated and expanded guidance related to the COVID-19 pandemic. It […]
June 10, 2021
A majority of the claims involve an allegation of wrongful termination. Since the beginning of the pandemic, well over two thousand employment complaints have been filed as of April 7, 2021. Most claims involve disability leave, accommodation, discrimination/harassment, retaliation/whistleblowing, and wage and hour claims, according to the COVID-19 Employment LitWatch from Jackson Lewis, P.C. LitWatch […]
May 7, 2021
Current federal law makes access to insurance products by cannabis businesses illegal. The Clarifying Law Around Insurance of Marijuana (CLAIM) Act of 2021 has been reintroduced by U.S. Senator Bob Menendez of New Jersey, a senior member of the Senate Banking Committee and chairman of the subcommittee that oversees the insurance industry. The CLAIM Act […]
April 21, 2021
A new survey from the Insurance Research Council (IRC) found that two-thirds of respondents worked from home at least part of the time during the COVID-19 pandemic. The survey, conducted in October, also revealed that half expect to continue working from home entirely or alternate between working and not working from home in the future. […]
April 7, 2021
A standard commercial policy typically does not cover damage due to flooding, including hurricane storm surge flooding. Natural disasters can be devastating to businesses. While damage caused by some types of natural events — such as lightning or wind — will usually be covered by commercial property insurance, you need a special policy if you […]
March 24, 2021
More employees working from home means more possibilities for cyber security breaches. The Covid-19 pandemic has been a game changer for businesses. For some businesses change may have even been beneficial, such as increased online sales or greater numbers of people working from home. But Covid-19 has also brought more digitization, and that has helped […]
