Equipment Breakdown Insurance Is Much More than Insurance

February 6, 2020

Equipment Breakdown insurance – formerly called Boiler & Machinery insurance – covers 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 property damage or bodily injury. Today, few businesses use […]

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New Insurance Products: Warranty & Indemnity Insurance

January 23, 2020

The use of insurance in mergers and acquisitions is on the rise, according to a recent report by Aon. Since 2014, there has been a 35 percent increase in M&A deals where warranty and indemnity (W&I) insurance has been part of the transaction. In a merger or acquisition, the seller makes certain representations and warranties. […]

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How to Create a Risk Management Plan

January 10, 2020

When we think of risk, the first thing that usually comes to mind is insurance. But insurance is just one component of a sound risk management plan. A risk management plan includes insurance, plus all the other strategies you need for dealing with the risks associated with your business or organization. The following steps outline […]

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What Does Surplus Lines Cover and How Do You Buy It?

December 16, 2019

Surplus lines insurers handle a broad range of business risks. These are some examples of the types of risk commonly insured by excess and surplus lines insurers: A developer re-building homes and businesses in a hurricane-prone area A new business, especially in an industry that has frequent claims, such as roofers and pawn shops A […]

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Proud to Support Susan G. Komen San diego

November 15, 2019

We are proud to support Susan G. Komen San Diego in their ongoing fight against breast cancer. Thank you to Shaina Gross, President & CEO of Susan G. Komen San Diego for your comments below and photos. We love to help make a difference in our community. Thank you so much for your generous donation! […]

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Are Insurance Companies Prepared for Another 9/11?

The terrorist attacks on 9/11, in which terrorist hijacked and flew commercial airliners into the World Trade Center Towers and the Pentagon, demonstrated how such events are unpredictable, highly destructive and possibly uninsurable. These attacks still count as the deadliest and most costly terrorist incidents in U.S. history, with insurance losses totaling approximately $47 billion, […]

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How to Insure against Alleged Whistleblowers

November 1, 2019

Employees file lawsuits against their employers for many reasons. A 62-year-old white male employee with a positive performance record and favorable bonuses was terminated by a foundation. He sued the foundation, alleging he was terminated from his job so that the employer could hide a pattern of discrimination against women and minorities. The employee further […]

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10 Tips for Reducing Cyber Liability Threats

October 24, 2019

Protect against viruses, spyware, and other malicious code. Make sure all computers are equipped with antivirus software and anti-spyware and updated regularly. Secure your networks: Safeguard your Internet connection by using a firewall and encrypting information. Make sure your Wi-Fi network is secure and hidden. Establish security practices and policies to protect sensitive information: Establish […]

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How to Understand an Insurance Policy

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. […]

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