Currently viewing the category:
"General Liability"
On the property/casualty side, we’re looking more and more closely at drone technology, the underwriting side you can survey properties much more efficiently, much more accurately, and you can survey more dimensions than a human could on their own. Temperatures, and structural elements, as opposed to just what the naked eye can see. On the claims side you can assess damage in certain territories for where disasters have occurred, and which can immediately result in not just more accurate information but faster claims payout which is what we want for all of our insureds. Continue reading
If your business has an HVAC system there is a threat of water damage. If your business has a bathroom facility there is a huge risk of water damage. A malfunctioning toilet or sink can quickly become a problematic water and hazmat issue. Businesses with a physical location can also be damaged by water from storms or floods. Very few businesses are not susceptible to range losses caused directly or indirectly by water. Insurance coverage plays a huge role in protecting a business from water damage. There are many insurance policies (and riders and endorsements) available to cover these risks and protect your business. It surprises me often when a business does not want water damage covered either included or added to the Commercial Property Policy. Continue reading
A left-turn at the light with oncoming traffic; the collision occurs and now you are headed to intercompany arbitration on the subrogation claim as the parties dispute who was at fault.
An all too familiar scenario for those adjusting auto losses, but an increasingly relevant fact pattern in the world of subrogation recovery. While 85-90% of all subrogation claims are resolved between carriers and self-insureds without a problem, it is the other 10-15% that can make the difference to the bottom line for insurance organizations.
Continue reading
A new report released by the Travelers Companies Inc., reveals that even minor injuries can substantially impact business productivity.
The Injury Impact Report identifies the most common causes of workplace accidents and injuries through analysis of 1.5 million workers’ compensation claims filed between 2010 and 2014 from a variety of business sizes and industries. Continue reading
An expert may be the single best defense in a case involving an animal causing damage or injury, according to a recent panel discussion on animal liability during the Property & Liability Resource Bureau annual conference in San Antonio.
Experts can testify as to the behavior of a particular type of animal or breed. They can also testify as to how a particular type of animal or breed is typically confined.
Continue reading
The data for the study “Insurance Costs for Mid-Rise Wood Frame and Concrete Residential Buildings” was drawn from published literature and consultations with brokers, underwriters and property managers. Interviews with three underwriters and data from the Canadian Wood Council (CWC) show that builders’ risk insurance rates per $100 monthly for comparable wood and concrete buildings are on average $0.008 for concrete and $0.053 for wood. When excluding the rate provided by CWC for wood frame insurance, which was significantly lower than the rates provided by the underwriters, the average rate for wood buildings rises to $0.06, a factor of 7.5 times greater than that for concrete buildings. Continue reading
Garage Keeper’s liability coverage is an optional but recommended insurance coverage for business owners that store customer’s vehicles. It is specifically beneficial to have for a business that provides either towing service or parking service. Basically, a garage keeper’s liability policy will protect the customer’s vehicle while their automobile is stored for parking, during maintenance or for general storage needs. Continue reading
WASHINGTON — There’s growing evidence that most of the dramatic gain in the number of Americans with health care coverage is due to President Barack Obama’s law, and not the gradual recovery of the nation’s economy.
That could pose a political risk for Republicans running against “Obamacare” in the GOP primaries as they shift to the general election later this year. While the health care law remains highly unpopular in the party, the prospect of taking away health care coverage from millions of people could trigger a backlash if the eventual GOP nominee’s plan to replace it is seen as coming up short. Continue reading
