An insured operated an open-lot business covered under an ISO Commercial Property Building and Personal Property Coverage Form. The insured stored a substantial amount of business personal property in an enclosed shed on the premises. Because the shed had little value, the insured chose not...
Consider this scenario: Your insured installed the heating, air-conditioning, and ventilation systems in a newly constructed office building. The day before the building was scheduled to open, the contractor tested the air-conditioning system and discovered it was not working due to improper installation. Repairing the system...
Artificial intelligence is changing how insurance agencies attract clients, assess risks, recommend coverage, and manage day-to-day operations. AI tools can improve efficiency and customer service, but they also create new E&O exposures. The main challenge is using AI responsibly while preserving professional judgment, regulatory compliance,...
Thousands of men and women work in the United States maritime industry, a job that is often demanding and physically hazardous. Whether loading cargo, repairing vessels, or building offshore structures, these workers are critical to global commerce. Since their work environments differ from traditional office...
A remodeling contractor was hired to do work in an apartment building with 70 units. The contractor’s employee accidentally left a master key in the door of an apartment he was working in, and someone stole it. The apartment owner had all the locks in...
Many businesses operate under a “doing business as” (DBA) name. While a DBA may appear to be nothing more than a marketing tool or trade name, it can create significant insurance coverage implications if it is not handled properly on an insurance policy. A DBA is...
Reciprocity and extraterritoriality are related concepts in workers’ compensation law that determine which state's workers’ compensation system applies when employees work temporarily outside their home state. Extraterritoriality Extraterritoriality refers to a state's ability to extend its workers’ compensation coverage beyond its borders. It allows an employee who...
In the past, auto exposures included collisions, theft, and weather damage. Now, there is a new exposure: cyber risk. Vehicles are now connected, software-driven machines, and individuals and businesses face risks that insurance and risk management approaches weren’t designed to handle. Today’s vehicles are essentially computers...
The recent case of Stephanie Plummer v. Commercial Insurance Agency, Inc. is an important reminder of the professional liability exposures facing insurance agents and brokers when coverage gaps leave clients uninsured. The Georgia Court of Appeals' decision emphasizes that an agent’s failure to obtain appropriate...
One common question we consultants get from our agents is, “What limits do we show on the ACORD 25 Certificate of Liability Insurance?” We always answer with “Show the policy limits on the declarations page.” The purpose of this change to the ACORD 25 Certificate of...