There are two distinct marketplaces in today’s insurance arena: the admitted market – those insurers that are admitted to write insurance business in the state or country where the insured’s property or business is located, and the surplus lines market, which writes coverage that the carriers do not file with the state’s department of insurance…
Nuclear verdicts are hitting most insurance sectors, but nowhere is the threat more prevalent than in the trucking industry. From 2010 to 2018, average trucking verdicts over $1 million were up 1,000%. This Burns & Wilcox article details some of the challenges facing trucking companies and their brokers.
Certificates of Insurance
Many experienced business owners are unaware of their need for a Directors & Officers (D&O) liability policy. According to a white paper on this issue developed by Gallagher, a Chubb study found that 25% of private companies surveyed had a D&O claim in the three years surveyed. The average cost of those claims, according to…
What does it mean when an adjuster reports that your insured is not “legally liable,” so the carrier will deny the claim. This article explains the basics of legal liability so that you can explain it to your clients.
Recent settlements and jury verdicts against property owners and managers hit with premises liability claims continue to climb. Whether your clients own a tavern, a manufacturing plant, manage apartment complexes, or are homeowners, their current liability limits may be insufficient in today’s legal environment.
An interesting post on LinkedIn by risk management consultant Jack Schwartz, managing director at Davis + Gilbert Risk Management, caught my attention. The issue, according to Schwartz is that insurers are increasing the number of warranties placed on property policies, whether these are location-specific policies or smaller scheduled locations.
The Coronavirus created many growth opportunities for today’s commercial and residential contractors. Now is the time for agents to query their contracting clients to ensure their clients have made no material changes in their operations. Professional liability exposures can arise, especially when contractors begin new lines of work.
If you incorrectly name your insured on any policy, your insured may find he or she does not have coverage. After a loss is the worst time to learn that fact. The first questions most well-trained adjusters ask as they review a loss is who suffered the loss and is that person or entity listed…
A missed healthcare diagnosis resulted in a whopping $111 million verdict in Minnesota, according to a recent Burns & Wilcox article. Read on to learn more.
