Why You Need Employment Practices Liability Insurance (EPLI)
With increased government regulation related to employment issues it’s easy to see why carrying Employment Practices Liability Insurance would be a good idea for most employers. In employment practices liability insurance, 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 […]
Additional Insured Coverage Protects When Working with Contractors
One of the most effective ways of protecting your organization from liability due to contractors’ and subcontractors’ operations is with Additional Insured coverage. Liability insurance covers you from losses due to claims your company, its employees or products or services caused harm or wrong to a third party. Sometimes, however, your organization can be considered […]
Cyber Threats Drive Concern About Vehicle Vulnerability
The technological sophistication of today’s vehicles makes them increasingly vulnerable to cyber security threats. The software operating in today’s vehicles has about 100 million lines of code. Due to the advancing of software vehicle cyber threats have become more of a concern. “It would be easy to say the modern car is a computer on […]
You Might Need Surplus Lines Insurance – Even if You’re Not a Celebrity
You’ve heard of celebrities who buy insurance on signature body parts, those fall in surplus lines market. Some examples are Keith Richard’s middle finger ($1.6 million), Dolly Parton’s Breasts ($3.8 million), Jennifer Lopez’s butt ($27 million) and Mariah Carey’s legs ($1 billion). These transactions take place in what’s called the surplus lines market for surplus […]
What is D&O Coverage?
D&O coverage is designed to protect and cover directors & officers of a company from personal losses if sued. Decisions made by the boards of private companies are not immune from public scrutiny. Securityholders, employees, customers, suppliers, competitors, and even the government can sue a privately-owned company and its board of directors. This makes D&O […]
Equipment Breakdown Insurance and Why Your Business Needs It
Equipment Breakdown Insurance or Boiler & Machinery Insurance? Equipment Breakdown insurance was formerly called Boiler & Machinery insurance. But they changed the name because these policies now cover so much more than boilers and machinery. Insurers introduced boiler and machinery coverage (now equipment breakdown insurance) in the mid-1800s. It was made to cover valuable steam-powered […]
What is “Proximate Cause” in Insurance?
How does it apply in a case involving the ransomware payment from a cryptocurrency account? Proximate cause, which refers to the closest/first cause of an accident, is a basic principle of insurance. There are several classic examples of how proximate cause works. Recently, a case involving cryptocurrency was decided based on the principle of proximate […]
5 Tips for Getting the Best Cyber Coverage
Not all cyber policies are the same and there are certain features and enhancements you need to be aware of. Here are five cyber coverage tips: #1 Obtain Retroactive Coverage Many cyber coverage policies are claims-made, meaning they will only cover incidents that occurred during the policy period. Let’s say your cyber policy has an […]
90% of Risk Managers are Concerned about Cyber Attacks
A recent survey of risk managers—those charged with identifying, evaluating, and selecting the best techniques to mitigate risk—by Nationwide Insurance revealed that cybersecurity takes up a substantial portion of their budgets. 68% expect these budgets will continue to grow in the coming years. Nationwide’s previous studies have revealed that consumers as well as small to […]
Is Your Website Discriminatory?
Does your website violate the Americans with Disabilities Act (ADA) because it is not maintained in a manner accessible to blind or visually impaired people? Is your website discriminatory? As most employers know, Title I of the ADA, which applies to all employers, public and private, that employ 15 or more individuals, prohibits discrimination against […]