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"General Liability"
As the fastest growing coverage in the country, cyber insurance is certainly an exciting and dynamic space in which to operate. But, exponential growth also brings challenges and unexpected roadblocks. With that in mind, IBA sat down with Kari Stern, Claims Manager at NAS Insurance Services, to find out how she’s managing the rapidly evolving industry, her biggest challenges of 2016, and to ask what major trends she foresees impacting the cyber space in 2017. Continue reading
Effective January 1, 2017, OSHA has revised its requirements for recording and submitting workplace injury records and illnesses. The OSHA Final Rule on Electronic Tracking of Workplace Injuries and Illnesses revisions require that some recorded information is submitted to OSHA electronically. Continue reading
Business interruption is a top global corporate risk for the fifth year in a row. But worries about Brexit and incoming U.S. President Donald Trump also made the list of companies’ 2017 fears and uncertainties in a new Allianz report.
About 37 percent of respondents rated business interruption as their biggest risk worry, essentially even with 2016, the latest annual Allianz Risk Barometer noted. This year’s report – Allianz’s sixth annual – was based on a survey of 1,237 risk experts from 55 countries. Continue reading
Car electronics supplier Delphi Automotive Plc went coast-to-coast in 2015 in a self-driving Audi Q5 sport-utility vehicle to prove the autonomous automobile had arrived.
Now, Delphi is shifting from stunts to selling. In Las Vegas this week at CES, formerly known as the Consumer Electronics Show, the company will give test rides to hundreds of potential customers in driverless Audis over a course of rugged terrain and tunnels. The goal: to walk away from this critical conclave with a handful of hot prospects for its self-driving system. Continue reading
The marketplace for commercial insurance will continue to favor insurance buyers in 2017, particularly those with strategic risk management and risk transfer strategies, according to Willis Towers Watson’s 2017 Marketplace Realities report.
The report points to strong marketplace capacity as a key driver in market conditions and contends that this ample capacity will likely allow insurers to absorb any natural catastrophe losses in 2016, including those from Hurricane Matthew and the Atlantic hurricane season. Continue reading
The new U.S. policy on self-driving cars received a mixed reaction from highway-safety advocates who acknowledged the life-saving potential though warned of a world of “human guinea pigs.”
The Transportation Department’s new guidelines give carmakers and states “the green light to innovate while keeping safety at the forefront,” said Deborah Hersman, president and chief executive officer of the National Safety Council, an Itasca, Illinois-based nonprofit that seeks to reduce injuries and deaths on the road. Continue reading
Now that the yearly task of filing personal taxes has passed, this is an opportunity to discuss another type of filing for businesses that occurs every year – the workers’ compensation and general liability audits. In comparison, insurance audits and filing taxes are similar in that both are mandatory, annually. The workers’ compensation and general liability audits are conducted at the end of each policy period to verify that the premium is correct for the exposure during the policy period. In the event there is a claim, the claim might be denied because the premium exposure for the policy term within the policy period where the claim occurred was underinsured. Continue reading
Many states have enacted legislation that requires claimed defects on homes built to be reported to the builder in an effort to try and reduce the amount of Defect Lawsuits. What is being called the “right to repair” allows a builder to address the homeowner’s claimed defects and then repair the defect rather than being brought to court. The “right to repair” provides an avenue to the homeowner to seek repair on their home without having to open a lawsuit. Continue reading
