July 20, 2012 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
“Learned professions” including legal, medical, engineering, accounting and financial services firms were formerly alone in being regarded as professional services firms. According to a number of courts, though, this term has been broadened to describe a wider and more diverse group including firms providing physical or manual services. These firms can include plumbers, roofers, exterminators, […]
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Does your General Liability policy cover these risks?
February 18, 2014 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
Chubb’s 2013 Private Company Risk Survey indicates large gaps in insurance coverage can be attributable to managers not fully understanding what is covered under their liability policies. Following are key risks not typically covered by a General Liability Policy: Financial injury resulting from actual or alleged wrongdoing by a company’s directors and officers. Employment-related discrimination, […]
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Choosing the right carrier for network security and privacy liability
November 13, 2013 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
As targeted network attacks continue to rise and governmental agencies increasingly regulate the privacy and data security environment, an increasing number of organizations are transferring their risk to insurance products. In many cases, organizations find they have little choice. It has become common for written contracts to require service providers to obtain coverage for network […]
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Opioid Epidemic Driving Up Workers’ Comp Costs
May 15, 2013 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
Patients receiving high doses of opioids took three times longer to return to work than injured workers who received lower doses, according to a California Workers’ Compensation Institute study. In Michigan, claimants who received short-acting opioids such as Oxycodone were 76% likelier to have workers’ comp costs exceeding $100,000. Injured workers who were […]
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Workplace Safety Committees in Pennsylvania
April 18, 2013 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
Following the second workers’ compensation rate reduction in a row for Pennsylvania businesses, Labor & Industry Secretary Julia Hearthway credited state-certified workplace safety committees with “encouraging a safe workplace and a productive workforce.” According to Secretary Hearthway, “More than 10,000 state-certified workplace safety committees have been established, protecting more than 1.3 million workers and saving […]
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Are there Errors in your Firm’s E&O Policy?
February 13, 2013 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready? Having insufficient or incorrect Errors & Omissions (E&O) coverage can financially devastate your firm one minute from normal. Following are a few best practices regarding E&O policy “hygiene”: Every E&O policy includes […]
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Are your employees stealing from you? Commercial Crime Insurance
January 23, 2013 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
According to the 2012 Marquet Report major embezzlements are increasing both in number and in size. Year to year, the number of embezzlements increased 11% while the average loss jumped from $750,000 – $1,400,000. Even a relatively minor theft could force a business to cease operations. Following are a few protective measures your firm can […]
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Check Your Workers Compensation Loss History
September 5, 2012 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
Workers’ Compensation policy purchases and renewals will likely cost more beginning January 1, 2013 for any firm with a poor loss history. This is because at the beginning of the year, 38 states will change the way premiums are calculated. The National Council on Compensation Insurance (NCCI) helps 38 states set their Workers’ Compensation rates. […]
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Does Your Company Need E&O Liability Coverage?
July 20, 2012 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
“Learned professions” including legal, medical, engineering, accounting and financial services firms were formerly alone in being regarded as professional services firms. According to a number of courts, though, this term has been broadened to describe a wider and more diverse group including firms providing physical or manual services. These firms can include plumbers, roofers, exterminators, […]
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Are you a 60 percenter?
December 7, 2011 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
A survey administered by Advisen Ltd. reports that 60% of organizations do not purchase cyber liability insurance as part of their data, information and privacy risk management strategy. And yet, 86% of respondents consider cyber and information security risks to pose at least a moderate danger to their organizations. While recognizing the dangers of information […]
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Is Your Insurance Coverage Keeping Pace?
November 1, 2011 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
Insurance Journal recently cited a report indicating, “Commodity price volatility and the rising cost of raw materials such as steel are fueling a rise in rebuilding costs for plants and facilities, particularly for companies operating in the energy sector.” The report went on to warn this imbalance could potentially have disastrous consequences for companies that […]
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