Insights

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Insights

Property & Casualty, Professional Lines

Enhancing Securities Market Investors’ Protection in North America

02/21/17

The financial markets' crisis and the failure of major banks, securities broker/dealers and insurers together with an upswing in cases of fraud has meant that investors are profoundly concerned with the protection of assets they have entrusted to others. Fortunately, there are statutory bodies and insurance policies in both the US and Canada which have been created to address these concerns.

Property & Casualty, Transportation, Environmental

Transportation Pollution Liability: From Point A to B and In Between

02/21/17

When a cement truck turns over and pollutes a stream, how is that insured’s exposure addressed? If a freight hauler is unloading drums of soap and one of those drums turns over and spills into a storm drain, how will the insured be protected? In the environmental marketplace, carriers will offer transportation pollution liability coverage to address these exposures.

Property & Casualty, Casualty

Arbitration Law As We Move Into 2017

01/26/17

Arbitration is becoming a frequently preferred method for dispute resolution, especially in commercial matters and those involving consumer contracts. While there are many positives to arbitration, there are also drawbacks. This article discusses the basis and background of arbitration and current trending and emerging subjects.

Property & Casualty, Casualty, Transportation

8 Areas in which the Electronic Logging Mandate will Impact Trucking

01/26/17

The Federal Motor Carrier Safety Administration mandate which requires nearly all U.S. truck operators to use electronic logging devices (ELDs) to track duty status has been upheld in court and will take effect December 16, 2017. The mandate will impact not just the trucking industry, but the trucking insurance sector as well.

Property & Casualty, Casualty, Healthcare (P&C)

3 Factors Threatening the Nursing Home Liability Market

12/13/16

With ample capacity in nursing home and long-term care liability insurance, competition remains strong among carriers. However, the convergence of three separate events are threatening to create a perfect storm in the marketplace.

Property & Casualty, Professional Lines, Cyber Liability

Endorsements that Protect Your Clients from Social Engineering Losses

11/08/16

In response to the masses becoming more aware of cyber-attack techniques, hackers have countered with more sophisticated attacks, such as CEO Fraud, also known as Social Engineering Fraud. How we do we address this increasing risk as an industry?

Property & Casualty, Casualty, Workers' Compensation

How to Combat Rising Rates and Retentions in Excess Workers' Compensation Insurance

11/08/16

For 10 years, rates and retentions for self-insureds have been steadily (sometimes drastically) increasing. The good news is there's a way to fight the increases, though it has little to do with insuranc​e.

Property & Casualty, Casualty

Overcoming the Challenges of Placing Multi-Family Real Estate Insurance

09/20/16

Multi-family real estate insurance has become a difficult class to place - many markets have either exited the space or tightened their guidelines. Here are three ways that you can help present risks in the best possible light for underwriters.

Property & Casualty, Casualty, Workers' Compensation

Protection & Indemnity Insurance – Overview and Coverage Concerns

09/20/16

P&I insurance, which is liability coverage for vessel owners, is subject to many exclusions and special conditions. Often, we see instances where the P&I insurer declines defense and indemnity in cases involving injuries to crew members. Here's a closer look at why.

Property & Casualty, Property

Top 10 Costliest Hurricanes in U.S. History

08/11/16

For the insurance industry, a major hurricane making landfall means an enormous number of claims, often resulting in rate increases for insureds and changes to catastrophe models. Check out this infographic which highlights the 10 most costly hurricanes in U.S. history, ranked by estimated insured loss.

Property & Casualty, Professional Lines

OSHA: Priorities, Inspections, and Citation Defenses

08/11/16

Despite the heavy burden on employers, since its inception, OSHA's programs and policies have dramatically improved employee safety. It's important that employers know about OSHA requirements and exemptions, which could make or break a citation defense.

Property & Casualty, Professional Lines

Community Banks: The Return of the Multi-Year Insurance Policy

07/21/16

With the economy on the rebound, carriers have started to again offer multi-year policies for banks, but on a selective basis. Deciding if a multi-year policy makes sense for your insured requires careful consideration, and they can provide many benefits over traditional annual policies.

Property & Casualty, Property, Environmental

What Constitutes Property Damage?

07/21/16

Property damage doesn't always mean there was an alteration to structure or contents. In this article, we review a court case in which harmful air quality was ruled as causing “direct physical loss of or damage to” the company’s property.​

Property & Casualty, Casualty, Construction

Don't Fall Into The Hole: Potential Insurance Exposures for Construction Owners

06/09/16

During and after a construction project, commercial general liability and project-specific policies may not fully protect building owners against any and all risks faced. This article addresses two unique areas which should be carefully considered to ensure proper coverage.

Property & Casualty, Casualty, Product Recall

Case Study: Ingredient Manufacturers and Their Product Recall Insurance Risk

06/09/16

Ingredient manufacturers sell their product to other manufacturers who use it to make other products, some of which are ingredients themselves. This positions ingredient manufacturers uniquely in the event of a recall, since they may need to indemnify large financial losses sustained by multiple third parties.​ 

Property & Casualty, Casualty, Construction

Construction Defect Claims: Statute of Limitation and Statute of Repose

05/10/16

Responding in large part to the increase in construction defect litigation, the state legislatures have enacted provisions to provide certainty and to limit the time in which a party may bring suit for a defect claim. In this article, we discuss the importance of understanding the applicable statutes of limitation and statute of repose for a given jurisdiction, as well as the interplay of those statutes with other provisions.

Property & Casualty, Casualty, Workers' Compensation

Workers' Compensation Insurance on the High Seas

05/10/16

When a U.S. maritime worker leaves the U.S. on temporary overseas assignments, are they still covered by the Longshore Act (USL&H)? Or are they covered by state workers’ compensation laws? The short answer is: it depends.

Property & Casualty, Property

8 Key Considerations for a Builder's Risk Insurance Policy

03/15/16

In this article, we review the insurance requirements and considerations when it comes to a builder’s risk policy, including coverage for soft costs and delay in startup/loss of income.

Environmental

Green Construction: Risk and Special Insurance Considerations – Part Two

03/15/16

Concluding our two-part series on risks specific to "green" construction, this article highlights three of the most well-known “green” construction suits and discuss industry concerns and best practices.

Group Benefits, Self-funding

3 Ways Brokers Can Ensure a Positive Insurance Claims Experience for Self-Funded Clients

Experts warn that under the Affordable Care Act, the number of catastrophic losses will only worsen. Brokers need to ask themselves how they can become advocates for and protect the budgets of their self-funded employers as a growing number must pay catastrophic claims?

Property & Casualty, Professional Lines

Required State Disclosure Language: What Does it Mean?

Not licensed. Insolvency. No guarantee of claims payment. These words on a policy can cause concern to insureds, especially those with little to no experience with the excess and surplus lines marketplace. Understanding the reasoning behind these disclosures will help you put your clients at ease.

Property & Casualty, Casualty, Environmental

Green Construction: Risks and Special Insurance Considerations - Part One

In the first article of our two-part series, we provide a background and introduction to sustainable construction, including essential vocabulary that parties should consider before undertaking a "green" construction project.

Property & Casualty, Professional Lines, Cyber Liability

Cyber Insurance Coverage for Bank Assessments

The most significant liability threat for companies after a data breach could be from their business partners, including banks and payment card processors. This article details what merchants and their brokers need to know to ensure their coverage matches their needs and expectations.

Property & Casualty, Casualty, Environmental

Insurance Implications of Legionnaires Disease

Many business owners and operators incorrectly assume that their general liability policy will cover them from pollutants and bacteria, such as legionella. In reality, to properly cover such exposures, an Environmental Impairment Liability policy should be purchased and considered a cost of doing business.

Property & Casualty, Professional Lines

How to Soften the Insured vs. Insured Exclusion in Your Client's D&O Insurance Policy

Looking for ways to limit the Insured vs. Insured exclusion in your client's D&O policy? By considering the amendments recommended here, you may be able to negotiate broader coverage for your client.

Property & Casualty, Property

10 Key Changes for the Private Commercial Flood Insurance Market

With the National Flood Insurance Program (NFIP) facing excessive losses, legislative mandates and a growing deficit, the private sector is presented with one of the largest growth opportunities in the P&C market today. But can the challenges causing NFIP’s problems be adequately addressed by the commercial market?

Property & Casualty, Casualty, Construction

Right to Repair Statutes: the Fix to Construction Defect Litigation

An evolving and dynamic area of law, “right to repair” statutes require homeowners to notify builders of claimed defects and to provide them with an opportunity to repair the defects before taking legal action.

Property & Casualty, Casualty, Construction

Protection for Project Owners and Developers: Which Insurance Policies Work Best?

During a construction project, much of the risk is with the contractor. However, the owner of the project also has the potential for liability. Give your clients more adequate protection during construction with an Owner’s Interest policy that includes extended completed operations insurance.

Property & Casualty, Casualty, Transportation

3 Problems Motor Carriers Face with the SMS Model

Motor carriers must continually battle the Safety Measurement System (SMS) and the public misperception its data creates, which often leads to higher premiums and difficulty obtaining coverage. Is there a clear solution to the problem?

Property & Casualty, Property, Construction

3 Exposures to Consider on a Builder's Risk Insurance Policy

The resurging construction industry means that builder's risk submission activity is on the rise. As such, it's important to understand this line of business. Here's an overview of some things to consider on a builder's risk policy.

Group Benefits, Self-funding

How Less Can Be More for Stop-Loss Insurance Programs

What is a stop-loss coalition? Whether you call it a preferred partner arrangement, stop-loss panel or block consolidation, this arrangement consolidates insurance by reducing the number of vendors used. This strategy, when executed efficiently, comes with a variety of benefits.

Property & Casualty, Professional Lines

Consider Broader D&O Insurance Coverage for Individual Directors on Multiple Boards

Directors & Officers insurance is designed to protect the personal assets of the directors and officers of a company. So what happens when a board member wants more personal protection than what is provided through a typical D&O policy?

Professional Lines

Professional Lines and TRIA: Surprising Insurance Coverage Triggers

With the renewal of the Terrorism Risk Insurance Act (TRIA), it is a good time to look at Management Liability and Professional Liability lines to discuss how terrorism in general can trigger coverage.

Transportation

FMCSA Considers Comments on Minimum Responsibility Limits

The Federal Motor Carrier Safety Administration is considering a proposal for regulations that would increase the minimum insurance limits for motor carriers - a change that could significantly affect smaller trucking companies.

Property & Casualty, Casualty, Hospitality & Entertainment

Four Factors that Determine Pricing For Liquor Liability Insurance Coverage

Liquor liability is a complex coverage that is becoming increasingly difficult to procure, but with a proper understanding of the type of risk, venue and location, you can more effectively position your clients for success with underwriters.

Group Benefits

The Six Attributes of a Highly Successful Broker-MGU Relationship

Working with a Managing General Underwriter (MGU) can be one of your most beneficial relationships, helping you build your book while addressing your clients’ major insurance issues. However, selecting the right MGU partner is important. 

Healthcare (P&C)

Two Tips for Senior Care Facilities to Reduce Insurance Risk Due to Soaring Number of Elderly Baby Boomers

In the next 15 years, the population of seniors will nearly double, with more than 20% of the population being 65 or older. With loss rates per occupied bed, claim frequency, and claim severity on the rise, this changing landscape will have a huge impact on senior care facilities.

Cyber Liability

Cyber Liability Insurance Coverage for Financial Institutions

Cyber Liability coverage is particularly intriguing for financial institutions, as they are held to a higher standard for protecting their customers’ information given their role in protecting their money. To help combat losses associated with data breaches, new cyber insurance products have started to emerge.

Property & Casualty, Casualty, Construction

Contractor Insurance Requirements – A Primer

When it comes to writing insurance requirements for contractors, there is a delicate balance to strike: protect insured interests while being reasonable and clear to contractors. This article discusses the importance of diligence in overseeing and enforcing such contractor insurance requirements.

Group Benefits, Self-funding

Four Reasons Why Reference Based Pricing Could Become the Norm for Self-Insured Employer Groups

Ever increasing health care costs are a concern for both employers and their employees today. One of the factors driving health care costs ever skyward is the lack of standardized pricing for services and procedures performed on a daily basis across the country. Closing the gap with reference-based pricing could help reduce that price variance.

Property & Casualty, Casualty, Construction

Construction Defect Claims: An Update

Litigation over whether a Commercial General Liability (CGL) insurance policy provides coverage for faulty workmanship claims is rapidly evolving. This article discusses situations where faulty work is considered an occurrence, when "property damage" becomes a factor, and how the "your work" exclusion and the subcontractor exception applies.

Professional Lines, Cyber Liability

The Cost of a Data Breach

There is a tremendous potential risk for merchants when it comes to the fines and penalties associated with data breaches – not to mention the public relations nightmare that could follow. Many insurers are hesitant to provide the capacity that is needed for the exposure that exists. Are your clients aware of the Cyberliability solutions that will cover them in the event of a breach?

Transportation

CAB Usage in Underwriting Truckers

Finding coverage for an experienced motor carrier with an above average safety history should be an easy task. However, coverage is often determined by the way a risk is presented - and interpreted. Usage of tools like Central Analysis Bureau (CAB) reports can.

Professional Lines, Cyber Liability

Cyber Liability Insurance for Nonprofits Organizations

When it comes to cyber-crime and massive data breaches, there's one group that has been relatively overlooked when it comes to cyberliability - nonprofits. How would an organization with limited capital protect its infrastructure in the event of a breach?

Professional Lines

Fighting Lending Requirements

At a time when many borrowers are taking advantage of record-setting low interest rates by refinancing their loans, regulatory changes are causing lenders to be more cautious than ever as they transfer the risk of unpredictable events to insurance carriers. This article will look at some examples of lender requests and possible ways to counter them.

Group Benefits, Self-funding

Everything Self-funded Employers Need to Know About Contraception Coverage But Are Afraid to Ask

Given the headlines regarding the issue of providing contraception coverage, brokers may be wondering how their self-funded clients fit into the puzzle. While there is no simple answer, an explanation of how these recent events currently affect self-insured employers and Third Party Administrators (TPAs) might shed some light on the situation.

Property & Casualty, Casualty, Construction

Additional Insured Endorsements - After the Work is Done

An endorsement like a CG 20 37 or similar can help provide options for completed operations coverage for additional insureds that might otherwise be overlooked or unavailable.

Group Benefits, Self-funding

ACA Costs and Regulations Drive Self-Funding Down Market

The right self-funded medical plan can provide smaller employers with the same health care advantages already being realized by their larger counterparts. 

Construction

Additional Insured Endorsements – Which Apply?

Additional insured endorsements are not a universal remedy and coverage is contingent on making sure a written agreement or contract is in place, with the named insured specifically adding the people or organizations included.

Property & Casualty, Casualty, Environmental

Placing Insurance Coverage for the EIFS Contractor

Obtaining coverage for Exterior Insulation Finish Systems, or EIFS, use can be a challenge. That's why understanding the intricacies of these commonly used building applications are so critical.

Group Benefits

Three Key Components that Help Employees on the Path to Wellness and Productivity

Physical, mental and financial burdens add to an employee's stress, impacting wellness and productivity. Savvy employers are taking steps to address these sources of tension with wellness programs.

Group Benefits, Voluntary Benefits

What is Critical Illness Insurance?

A common misconception that critical illness insurance is enhanced or supplemental medical coverage for an individual diagnosed with a condition such as cancer differs from the reality that this is a financial benefit.

Property & Casualty, Casualty, Environmental

Environmental Insurance Claims, Part 2: Leading Questions to Determine Client Exposure

In part one of our article series, AmWINS and Rockhill Environmental teamed up to show some examples that can lead to a loss. Now, in Part II, we outline some leading questions to help clients determine environmental exposure.

Property, Casualty

Aviation Insurance Exposures – Consider the Potential

From a simple slip and fall claim to a complex bodily injury or damage to aircraft claim, airports of all sizes are subject to substantial liability. Aircraft and airport operations seem to be very routine in nature, but when the unexpected loss occurs, proper coverage becomes very important.

Workers' Compensation

Self-Insurance in a Monopolistic State Fund

Requirements for receiving and maintaining qualified self-insured status vary by state and can be challenging to comply with for employers with operations in multiple states, although it is frequently done. However, for single-state employers, self-insurance is certainly an option that should be evaluated.

Casualty

The Contractual Liability Exclusion

The extent to which the contractual liability exclusion applies can vary, depending on geography, the applied agreements and even the level of liability that can be imposed under general law. While each case may be unique in its own right, it’s important to examine the variables that can factor into claims to see in which capacity contractual liability exclusions could apply.

Environmental

Environmental Insurance Claims, Part 1: Examples that Can Lead to a Loss

It’s easy to overlook the ways environmental exposures can lead to a loss. That’s why AmWINS and Rockhill Environmental have teamed up to provide a variety of examples that show how claims can arise from these exposures.

Property & Casualty, Professional Lines

Regulatory Impact on D&O Insurance Market for Community Banks

Most community banks improved their performance in 2013, but many obstacles – including FDIC lawsuits, Basel III, and the Dodd-Frank Act – continue to cause disruptions among D&O markets, which are still recovering from the hits taken during the economic downturn.

Group Benefits, Public Entity (Benefits)

Common-Sense Ways for Public Entity Clients to Lower Health Plan Expenses and Reduce Liabilities

Monitoring soaring employee and retiree health benefit costs and providing cost control solutions have never been more important than today in the public sector. Public entities that explore both alternative insurance structures and administrative enhancements can turn this challenge into an opportunity.

Property & Casualty, Professional Lines

EPL Policies and PEO Staffing Insurance Exposures

When an employer shifts its employees to a leasing agency or Professional Employer Organization, what happens to the employer’s Employment Practices Liability exposures? Without careful consideration, this transition can create coverage gaps and other complications, making consultation with a financial services professional an important part of the transaction to ensure clients are properly covered during this change.

Casualty

Garage Liability Insurance Packages May Reveal Coverage Gaps and Lacking Limits

A close look at a garage liability policy will likely reveal a number of coverage gaps and exposures that could have a dramatic impact on balance sheets in the event of a claim. While these packages are the industry norm, identifying potential gaps and the stand-alone solutions that can supplement the garage package policy will go a long way in helping protect clients before it’s too late.

Casualty

Insurance Claims at Lloyd's – How Does it Work?

Lloyd’s of London has long been recognized as a well-established brand that, through the breadth and depth of coverages offered, is easily identifiable outside insurance industry standards. But how does the claims process work at the world’s most recognizable market, and how is an organization so steeped in tradition managing its claims processes to keep pace with today’s technology?

Property

Contingent Business Interruption Insurance Covers Losses Beyond a Business’ Control

Business interruption is a common coverage that allows a business to recover revenue lost as a result of a direct physical loss or property damage. But contingent business interruption coverage, while less prevalent, provides an additional layer of protection against losses that result from interruptions to supplier or distributor chains which directly impact the insured’s ability to produce products or deliver services.

Property & Casualty, Casualty

Late Insurance Claims Reporting - A Crucial Component in Avoiding a Denial

Nobody likes to see a claim get denied for any reason, especially if it's because of something avoidable like missing the reporting deadline. In this client advisory, we'll discuss tips on reporting a claim to avoid an unnecessary denial.

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