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 […]
June 5, 2019
Your insurance may cover your losses, but will it be enough to meet new building code requirements if you rebuild? A good insurance program will protect your business property from loss due to fire, theft, vandalism and more. But without certain important coverages, your property coverage could leave you short of the funds needed to […]
May 22, 2019
The coverage was introduced only a few years ago and more companies are now offering it. Sadly, following incidents like the shootings in Las Vegas, Parkland, Fla., Christchurch, N.Z., as well as numerous shootings in California and up and down the east coast and elsewhere in the U.S. this year and last year, there is […]
March 7, 2019
In the next three years developers expect 60 percent of their projects will be green. The market for green construction projects has grown significantly in the last 10 years and demand for green building activity is poised to grow substantially — to double in some regions, according to a report issued December 2018 by Dodge […]
February 20, 2019
“Nice to have” policies are those that all businesses should at least consider purchasing. Three of the most important ones include: Professional Liability In addition to lawyers, doctors and accountants, many businesses now need PL insurance. You don’t have to consider yourself a “professional” to need coverage for negligent acts. If you give advice and […]
February 4, 2019
There are insurance coverages that all businesses need, some that all businesses should consider, and some that you need only if you have special risk exposures. Need to Have Commercial general liability (CGL) is essential for every business. It will pay your legal costs, along with any judgments or settlements, when you are legally obligated […]
January 23, 2019
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. Liability insurance covers you from losses due to claims your company, its employees or products or services caused harm or wrong to a third party. Sometimes, however, your organization can […]
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 […]
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 […]
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 […]
