7 Things You Should Know About Your Claims

Claims Management System

Involve your insurance broker in the management of your insurance claims. Why? Because an effective Claims Advocate will maximize your return on your insurance investment and minimize the impact of poorly managed claims and poorly negotiated settlements on your insurance pricing. Insurance claims can be complicated, time consuming and financially burdensome. Most executives lack the time, experience […]

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10 Situations When You Need Pollution Liability Insurance

Pollution Liability Insurance

Oil and chemical companies understand the need for pollution liability insurance coverage. But they aren’t the only ones with potential exposure to pollution-related incidents. In fact, many other types of companies have uninsured pollution exposures. And it’s possible there are literally thousands of companies exposed and unaware of the financial risk they currently face. We can’t know for sure […]

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3 Things You Need to Know About Umbrella Insurance for Business

what is umbrella insurance

Your company’s general liability policy outlines the maximum amount your insurance company will pay against a liability claim. As a result, if your business is sued for $1,250,000 for medical costs associated with an injury caused by a worksite or product hazard, but your general liability coverage caps out at $1,000,000, your business will be responsible […]

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Proposed Update to FEMA Rules for Builders

The Federal Emergency Management Agency recently proposed updated FEMA rules for builders and homeowners requiring them to build on higher ground when using federal funds on construction projects situated in flood-prone areas. Construction projects affected by updated FEMA rules include buildings, roads and other projects receiving federal funds, as well as projects rebuilt with FEMA […]

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How Liability Insurance Protects You Against Pain and Loss in Your Business

liability insurance protects you against

Risk and potential loss is everywhere. What liability insurance protects you against is the potential for business ending claims – and lots of pain. It’s like a life preserver no business should be without. Liability insurance protects you against the risk of liabilities resulting from lawsuits and similar claims from third party persons or organizations attributing an injury to your business. […]

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Risks Ahead. Watch out for foodborne illnesses!

Foodborne Illness

The very young, the elderly, and persons with weakened immune systems are at greatest risk of serious consequences from foodborne illnesses. The Federal government estimates there are about 48 million cases of foodborne illness annually—the equivalent of sickening 1 in 6 Americans each year. Each year, foodborne illnesses result in an estimated 128,000 hospitalizations. These […]

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Winter Risks Ahead. Winter begins in two weeks, and with it come these risks

Winter risks

From 1994 – 2013 insured winter storm catastrophe losses totaled more than $1 billion a year on average. Approximately 23% of vehicle crashes each year – nearly 1,312,000 – are weather related. 17% occur during snow or sleet. Water damage and freezing account for almost 22% of homeowners insurance claims, with an average of $4,024 […]

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Risks Ahead. Did you know? The following key risks are not typically covered by a General Liability Policy?

Employment Practices Liability Insurance

Financial injury resulting from actual or alleged misrepresentation, mismanagement, or lack of oversight by a company’s directors and officers. Employment-related discrimination, harassment or retaliation. Breach of fiduciary duty imposed by ERISA for an employee benefit fiduciary liability claim. Financial injury that may be insured by professional liability or product or service E&O liability policies. First-party […]

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Fitness Exclusion on Fitness Center Insurance Program

This scenario represents an actual coverage flaw in an insurance program of a well-run, profitable business. A popular fitness center’s General Liability policy included the following endorsement. Isn’t it obvious?! Hire the insurance professional with a proven system to make sure every detail of the policy is reviewed and negotiated to meet the needs and concerns of your management team. […]

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