Stay informed about the trends in the P&C and benefits industries.
Recent court rulings, have extended the Americans with Disabilities Act (ADA) to apply to websites that are ‘heavily integrated’ with and serve as a ‘gateway’ to a physical stores/services. As a result, companies are now finding themselves targets for ADA claims based on the inaccessibility of their websites and media by those who are disabled. Learn how you can protect your clients.
While insurance may protect a tenant against subrogation by a landlord’s insurer, the liability of the tenant to the landlord is ultimately a question of law. As a result, any defense to a tenant’s liability is the practice of law. Learn the importance of consulting qualified legal counsel regarding questions of tenant liability, including the consideration of the various approaches to limiting that liability to the landlord.
Underground storage tank (“UST”) regulations are intended to safeguard public health and safety, as well as reduce the economic impacts of a UST system failure. This article discusses developments set forth in the most recent federal UST regulations, which became effective in October 2015.
Insurance-Linked Securities (ILS) provide alternatives to traditional indemnity-based insurance products by allowing investors to provide capacity, primarily on property catastrophe risks. Whether purchased in addition to a traditional program or in lieu of a traditional setup, ILS arrangements may offer a more efficient use of capital and can be fine-tuned to meet the needs of the insurance buyer.
Recent changes to English insurance law have replaced the doctrine of “utmost good faith” (uberimmae fidei) with the new principle of “fair presentation,” but the doctrine remains unchanged in United States federal maritime law. Will we see the strict doctrine of utmost good faith replaced by the principle of fair presentation in the U.S.? Inconsistency in recent federal court decisions provide insight into this possibility.
In today's sharing economy, millions of people rely on strangers to provide services and goods to them through various online platforms, such as Uber. Sometimes, however, problems can arise within the corporate structure of the sharing platform itself or arise out of the exchange. As a result, adequate insurance is an important consideration for those who wish to engage in the sharing economy.
The engine and cars that come down the track are only a small part of the property of any railroad operation. Property exposures are as diverse and complex as railroads themselves and require a specialized approach to navigate the insurance marketplace.
Severe weather can be unpredictable and strike at any time. Help your clients be prepared in the event their property is damaged by a hurricane, tornado, hailstorm or similar disaster with these 10 catastrophe claim tips.
The manufacturing industry contributed to over 12% of the U.S. economy in 2015, and this number is expected to increase. While new growth in production and sales is a positive development for businesses, it may also open the door to an elevated and often misunderstood insurance risk: financial damages not caused by bodily injury or property damage.
The Commercial General Liability policy (CGL) is an essential factor in the equation that consists of building planning, financing, construction, operation, and protection from risk. Standard ISO form CGL policies contain an insuring clause subject to long-standing exclusions, which have been the subject of interpretation and case law over the years. This article focuses on the operation of the form’s exclusions j, k, and l.
Owners and developers involved in construction projects must deal with the inherent risks involved with such projects. Their options are typically limited to avoiding, assuming, controlling/mitigating, or transferring the risk. This article addresses the most common risk transfer options.
In the event of a cyber attack, the Directors & Officers (D&O’s) of a company are often held liable. D&O's should ensure they have comprehensive insurance coverage as well as mitigate their cyber liability exposure with these three steps.
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.
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.
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.
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.
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.
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?
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 insurance.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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?
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.
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.
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?
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.
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?
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.
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.
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.
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.
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.
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.
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.
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.
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.