How Is EPLI Underwritten?

April 20, 2020

Underwriters use a variety of metrics to determine what to charge for EPLI and the scope of coverage to offer. The number of people you employ. Whether you’ve had prior suits lodged against your company. The percentage of employee turnover. Whether you have established rules and practices in place, such as an employee handbook that […]

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Why You Need Employment Practices Liability Insurance

April 6, 2020

Whether you’re dealing with existing employees or prospective employees during the interview process, every time your business interacts with people it faces the risk of an employment claim. Some of the typical claims brought against employers allege: Discrimination (based on sex, race, age or disability, for example). Wrongful termination. Harassment. Other employment-related issues, such as […]

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Traveling the Same Roads Together: AVs and Humans

March 17, 2020

An Update on Safety and Autonomous Vehicles (AVs) Nuro For the first time, regulators at the National Highway Transportation Safety Administration (NHTSA) have given permission to an AV manufacturer, Nuro, Inc., to deploy 5000 low-speed electric delivery vehicles without human controls like mirrors or steering wheels. The small, seat-less car, with gull-wing cargo doors on […]

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Coronavirus Information

March 11, 2020

As the spread of Coronavirus accelerates in the US, business operations need to create plans for virus prevention and business continuity in the event of an outbreak. In addition to the information below from the CDC on hygiene in the workplace, having a business continuity plan is key. Here are some steps to include in […]

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Why You Should Consider an OCIP for Your Next Building Project

March 3, 2020

What is an OCIP and how can it help you with your construction project? An Owner Controlled Insurance Program (OCIP) is an efficient, cost-effective way to provide insurance for owners and contractors for a specific building project. Construction jobs often have a lot of liability risks, including property damage or bodily injury to the public, […]

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What’s Covered in a Typical Equipment Breakdown Insurance Policy?

February 27, 2020

The typical equipment breakdown insurance policy includes the following coverages: Damage to “covered property” at the location named in the policy. Expediting expenses, to cover the costs needed to get insured equipment operational as fast as possible, such as expedited shipping and making temporary repairs. Business income and extra expense. Similar to coverage you should […]

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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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