Industries

We live in a world where leading U.S. manufacturers often manufacture very little. They remain masters of design, quality control and distribution.  However, to remain competitive, the actual manufacturing process is outsourced to offshore companies that can deliver at lower costs.

The policies and procedures used in the administration of lenders’ forced placed insurance have recently received increased scrutiny by regulators. While most of the attention thus far has been focused on lenders that have subsidiaries that actually underwrite the forced placed coverage, many of the issues (e.g. unreasonably high rates, communication breakdowns with the borrower and incorrect placement issues) could also give rise to additional regulation and lawsuits against lenders that outsource forced placed services.

Establishing the value of a personal injury claim is not an exact science, but when an accident with the same scenario occurs twice, only a few short days after one another, you can be sure that the claim value will substantially increase if the defect that caused the problem isn't mitigated.

It is good risk management practice for property owners and managers to prepare for any and all potential losses. Your property policy covers you for physical damage and/or loss of use to buildings and personal property that you own, lease or are legally liable for, if caused by a covered peril.

Many educators’ legal liability (ELL) insurance carriers are amending their policy to specifically exclude acts of sexual/physical abuse and molestation. Underwriters contend that the ELL policy form was never designed to cover claims alleging bodily injury, and that the additional exclusion merely clarifies the policy’s intent that such events are more appropriately covered by a school’s general liability policy. However, such exclusionary wording could have unintended consequences for your ELL policy.

As you may be aware, a recent news article noted that a large multi-national bank is being sued for $15 million for negligence following a robbery and homicide at a vacant building owned by the bank through foreclosure. Liability coverage for bank owned/foreclosed properties is handled quite differently from bank to bank, and coverage limits available may be insufficient to cover this type of catastrophic liability claim.

New England winter storms can be messy, unpredictable, and prolonged. Injuries caused by slipping and falling on snow and ice can be expensive, disruptive, painful and sometimes even tragic for property owners and managers. A proactive plan designed to identify, control and eliminate these losses is the best way to reduce or prevent these accidents.

Financial institution bonds are, in contrast to management liability policies (such as D&O and employment practices), written on standardized coverage forms. Although this provides buyers with a more clear understanding of the protection afforded, unfavorable terms and conditions are often accepted when more favorable language may be available. Below are several examples of common bond provisions that can often be amended to broaden your protection...

As a property owner or manager there are many obvious actions that serve to minimize sources of potential liabilities. For example, you know to keep parking lots and walkways plowed and sanded in the winter, and to maintain detailed snow removal logs. While these efforts may help with defending those pesky slip and fall claims, are you effectively defending yourself from other, less known liabilities? One such potential liability comes from man's best friend, the dog...

In today's litigious society, there can be a reluctance to help out in emergency situations. Some people are hesitant to provide first aid to accident victims, even when they are trained in CPR, because of fear of liability for making a mistake. Property owners and managers, uncertain if Good Samaritan laws apply, often ask if their employee should call 911 rather than offer to perform CPR or first aid in an emergency situation...