We’ll start this month by looking at some recent developments related to Sandy and then examine a situation that tests my mantra that the first three steps in claims handling are: Report, Report, and Report. Sandy at $18.8 B and Counting The latest reports peg the insured damage from Sandy at $18.8 billion, excluding National […]
The three topics this month are unrelated, but are all important. A perfect example of how diverse the insurance business is. Don’t Cancel Liability Insurance the Day the Property is Sold. Often producers, in a mistaken effort to provide outstanding service, cancel all insurance for an insured as soon as they learn that an insured […]
This is current events month. While the topics aren’t closely related, they’ve all been in the news or on my desk in the past month. $41.7 Million Liability Judgment for Injury to One Person The headline read: “Conn. Student Disabled On School Trip Wins $41.7 Million.”1 My first reaction: “Must have been an awful injury.” […]
The two topics this month concern employees. The first examines aspects of coverage for employment practices discrimination claims by employees and the second deals with employee theft. Employment Practices Liability Insurance: Coverage for Discrimination Claims Alleging Disparate Treatment “I’m being sued for discrimination.” That’s the astounding message I received from my daughter. She and all […]
By Jerome Trupin, CPCU and Arthur L. Flitner, CPCU, ARM, AIC Sandy propelled insurance issues front and center. One issue was increased wind deductibles. In coastal areas exposed to hurricane-force winds, insurers have pushed for higher deductibles, ranging up to 5 percent for homeowners wind claims. In a storm like Sandy, a 5 percent deductible […]
The first case under the revised New York insurance law section that now requires an insurance company to show prejudice before it can deny coverage for late notice, has just been reported. It’s Atlantic Casualty Ins. Co. v. Value Waterproofing, Inc., No. 11 Civ. 7565 (DLC) (S.D.N.Y. Jan. 15, 2013). In the February 4th issue […]
– Notice to Broker is Not Notice to Insurer – Late Notice Update – A Broker’s Duties to the Insured – Improving Crime Protection for Employee Benefit Plans Let’s look at some recent developments in areas we’ve looked at before. Notice to Broker is Not Notice to Insurer This combines three topics that we’ve looked […]
ISO forms will change in 2013. There are both restrictions and broadening of coverage plus many cases where ISO says the change just reinforces its original intent. It’s tempting to regard the changes as minor, but remember a minor change is one that affects someone else’s claim. A major change is one that affects your […]
A Breech in the Dike? Successful lawsuits against producers by New York insureds alleging errors or omissions are few and far between. The key word is “successful.” Hope springs eternal, so there are plenty of lawsuits—just not many successful ones. A recent New York Court Of Appeals decision may change that. American Building Supply Corp […]
Who said these topics aren’t related? They all begin with a W. It’s WWW; not the world wide web of the Internet but the world wide web of insurance. What Are the Traps in Wrap-Up Exclusions? Wrap-up programs combine general liability, workers compensation and umbrella insurance coverage for all contractors working on large construction projects. […]
A Beacon International Group, Ltd. Member
