Agents who have insureds with international exposures must be aware that local laws, business customs, economic conditions, political climate, and government regulation all affect the insurance risks that the organization faces. This article examines five common risk areas that these organizations face.
Your insured accepted an order via the internet for products that he sells. He verified that the credit card was valid through a service that he uses. It was not until several days later that the service that he uses advised him that the credit card had been stolen. He shipped the product that he…
Employee theft coverage can easily be written under standard ISO crime forms or an employee fidelity bond. However, crime policies cover only theft of the insured’s property by employees. Another exposure many businesses have is the theft of customers’ property, on and off the insured’s premises, by the insured’s employees. How can this exposure be…
Increasingly U.S. businesses find themselves in a global marketplace. This no longer applies to just huge, multi-national corporations. Your “mom and pop” insureds may very well fulfill orders from their web site or sell products on eBay, Amazon or other marketplace web sites. You may have hundreds of insured with international liability exposures that have…
“War and terrorism risks” are among the most severe issues facing organizations doing business outside the United States and, with an increasingly global economy and internet sales, more and more companies are doing business internationally. But coverage for war and terrorism is shrouded in mystique. Three myths have sprung up around it: It’s unavailable, it’s…
An increase in rates/premiums has been predicted for a while, though not yet widespread. But, there is evidence that the time is coming. Don’t let your insureds be blindsided. In particularly if your carriers are among the first to increase rates, here are some tips to make you and your clients better prepared for the…
An agent writes, “We seem to have some major disagreement within the office here as to whether a GL loss should be reported to the excess carrier. A few people feel that we should assess the claim and determine if we think it might come close to the GL limit – if we think it might,…
Below is an “Ask an Expert” question we received involving a Business Owners Policy. While we attempted to address the coverage issues raised from the standpoint of the BOP, it became very clear that this risk was not suited for a BOP, regardless of whether or not the insurer was willing to issue one. While…
Unlike the simple ISO HO policy, the ISO CGL policy has no specific professional liability exclusion. As a result, sometimes it can be difficult to determine whether a claim is an “occurrence” and covered by the CGL or an “act, erroror omission” and not covered. In this article, we’ll explore this issue and include a…
This article is about the often misunderstood exposure of discontinued operations. While your Technical Affairs Committee continues to work with ISO with little success to develop stronger coverage for discontinued businesses, this article describes the current state of discontinued ops. With so many business owners retiring and the increased merger and acquisition environment, this issue…
