Why Almost Every Business Needs Additional Insured Coverage
You have business liability insurance, but it may not provide coverage if you are considered “vicariously liable.” Do you work with outside contractors or partner with other businesses on ventures? What if they cause injury or property damage to others while doing work for you or representing your interests? Additional insured coverage can protect your […]
Impact of COVID-19 on Property and Liability Insurance
While estimates vary, the insurance industry is currently expected to pay as much as $110 billion in claims related to the pandemic in 2020, according to Lloyd’s. The coronavirus outbreak has reduced risk in some areas while, at the same time, changing and heightening it in others,” according to Chief Claims Officer Thomas Sepp of […]
Don’t Forget Your Umbrella Insurance
If your business is the typical small or mid-sized business, you probably have somewhere between $500,000 and $2 million in liability coverage under your business owner policy (BOP) or commercial general liability policy. How does umbrella insurance coverage work with these policies to provide extra liability protection? In addition to your BOP, you might also […]
Operating Your Business During the COVID-19 Pandemic
Many businesses have adjusted to the pandemic by implementing work from home arrangements for their employees. This is often an incomplete or inadequate solution though. How has your work or business during the COVID-19 pandemic been affected? The results can be less than ideal for the business, its employees and customers. Some businesses cannot even […]
Most Business Policies Cover Riots, Vandalism and Civil Commotion
Different policies cover different kinds of damage to property. When protestors gathered on the streets of our cities to speak out against the brutal killing of George Floyd, in many instances peaceful demonstrations turned into scenes of violence, vandalism and looting. The damage done to businesses is estimated at $25 million nationwide at this point. […]
D&O Policies and The Coronavirus
Even before COVID-19, insurance for directors and officers (D&O) was experiencing a hard market. Premiums had increased 44 percent in the first quarter of 2020. Over the past few years there has been a steady increase in the number of lawsuits and the size of jury awards in cases involving D&O. And now with the […]
Cyber Security and Working Remotely in the Pandemic
Now with so many more people working from home because of the coronavirus pandemic, it’s a good time to review your off-site cyber security working remotely practices. Many — maybe even most — of the people now working from home have probably never worked for you from home before. So, just because you’ve established protocols […]
Business Income Insurance and the Coronavirus
During a recent Coronavirus update meeting, President Donald Trump said that he thinks that many insurance companies should be paying business income losses due to the coronavirus pandemic.
Why You Need Employment Practices Liability Insurance (EPLI)
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. For these situations, you need Employment Practices Liability Insurance (EPLI). Some of the typical claims brought against employers allege: Numerous federal laws specify the types of claims […]
Why You Should Consider an OCIP for Your Next Building Project
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, […]