One of the basic coverage categories of a homeowner's insurance policy is liability insurance. Liability insurance protects you and other members of your household, including your pets, from accidental bodily injury or property damage for which you are held liable. Liability insurance does not protect you and your household members...
Terrorism risks are now a common exclusion on property and liability insurance policies. Specific terrorism insurance, with respect both to physical damage and/or extortion, is available in the marketplace. Capacity is limited and pricing high although dropping; extortion coverage is quite cheap. The article briefs on various topics: Terrorism Insurance,...
The lawyers market is a very small portion of the total United States casualty or liability insurance market. The estimate of the total United States Liability Insurance Marketplace, the size of the market on an annual basis is itself, a bit of an estimation based on what the authors' think...
One of the basic principles of insurance is that the premiums paid by the many should cover the costs of the claims made by the few. In today's claims conscious environment however the cost and numbers of claims, particularly liability claims, has risen so sharply that the size of the...
Fiduciary liability insurance covers pension fund trustees and retirement plan sponsors' directors and officers for claims asserting violations of fiduciary duty under the Employee Retirement Income Security Act ERISA. Monitoring the fiduciary liability insurance market is like watching a rerun of a bad movie. In the wake of the corporate...
This article explains a substantial proportion of the variation in property liability insurance consumption across countries belonging to the Organization for Economic Cooperation and Development OECD. The study focuses on two lines of insurance: motor vehicle and general liability. The authors' analysis indicates that economic conditions affect the demand for...
This paper provides an overview of volatility in premiums, coverage availability, and insurers' reported profits in U.S. commercial general liability insurance and of its broad relation to the U.S. tort liability system. The paper begins with a synopsis of the "perfect markets model" of insurance prices (sometimes called the arbitrage...
Quadrant Insurance Managers and the National Association of Catering Executives NACE have developed an insurance program, underwritten by the Clarendon Insurance Group, for off-premise caterers. The NACE insurance program educates insureds and covers unique losses. The following coverage is offered: liquor liability for caterer, host liquor liability for host, food...
Basically, three types of insurance are available to protect an individual's business: property, liability and workers' compensation. Workers' compensation insurance is required by law in all 50 states. Although property and liability insurance are not always mandatory, it makes sense to protect all of the company's assets with property and...
Perhaps the most baffling task when designing your business insurance program is how to select liability limits. While establishing liability limits on property values and business income is typically straightforward, setting the proper limits for automobile liability claims or a product liability claim can be difficult to determine.
Directors and Officers' liability insurance was originally used primarily by financial institutions for protection against specific "wrongful acts." Over the years, Directors and Officers' liability, or "D&O," insurance has come to be a necessity not only for financial institutions, but all companies whose directors and/or officers may face potential liability...
This Insurance Services Office stood the commercial liability insurance world on its ear a few years ago when it announced its conclusion that the contractual liability cover of its commercial general liability policy does not necessarily cover the defThis Insurance Services Office stood the commercial liability ...
Knowledgeable people think that liability insurance is for accidents. Standardized liability insurance policies-homeowners, auto and commercial general liability-are worded so that the idea of an accident is at the heart of the central coverage. Mostly, liability for accidents is handled through a part of the tort law-the law of negligence....
Most people are familiar with the "Everyday Insurance" triad automobile, home and life. Unfortunately, that familiarity often doesn't extend to the multifaceted fourth leg of the insurance chair for many: business insurance. If you run a small business, what you don't know about business insurance can hurt you. The terminology...
Because environmental insurance has emerged as a vehicle for managing the complex liability scheme and significant financial risk of federal and state environmental laws and regulations, real estate lawyers must have a basic understanding of the various types of environmental insurance policies that are available, the anatomy of an environmental...
Fiduciary liability insurance is an insurance product which provides protection to those responsible for the governance, management and administration of pension and benefit plans. Attitudes regarding fiduciary liability insurance vary widely. If surveyed about it, a pension or benefit fiduciary would likely express This article provides background on fiduciary liability...
A soft insurance market and favorable legislative trends are the story in professional liability these days, and while the situation isn't very different for accountants liability, some experts hint that an overpopulated insurance market and an expan A soft insurance market and favorable legislative trends are...
WASHINGTON--The liability insurance crisis of 1985-1986 probably will reoccur during this decade, according to a leading insurance industry economist. In a review of business liability insurance in the 1980s, Sean Mooney, senior vice president and WASHINGTON--The liability insurance crisis of 1985-1986 probably ...
This report reviews the availability in the Australian market of insurance cover for the personal liability of directors and officers of corporations, commonly referred to as D&O insurance. The review examines amongst other questions the impact of directors' liability on the availability of professional indemnity insurance and the consequences of...
BISYS general liability insurance offering added MELBOURNE, Fla.-BISYS Specialty Programs, a division of BISYS Commercial Insurance Services, has added a monoline general liability coverage program to its line of products. The general liability BISYS general liability insurance offering added ...
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