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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Hall of Shame – No Coverage for Waterborne Equipment
July 27, 2014 / by KMRD Partners / Coverage Hall of Shame, Insurance Coverage / 0 comments
This scenario represents an actual coverage flaw in an insurance program of a well run, profitable business. An agent sold the standard form to a company using their equipment on, around and even within bodies of water. Here is an excerpt from the policy removing coverage: The agent and the underwriter intended to cover the […]
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Hall of Shame – Injury to Independent Contractors Exclusion Creates Severe Coverage Gap
July 27, 2014 / by KMRD Partners / Coverage Hall of Shame, Insurance Coverage / 0 comments
This exclusion removes coverage for any work done by an independent contractor: Here is an outline of an everyday exposure for a typical (ABC) company that utilizes subcontractors (as you know, there are not many companies who do not use a subcontractor in some capacity): This exclusion removes coverage for any claims arising out of […]
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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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