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Protect Yourself Before You Allow Subcontractors on Your Jobsite

You are a contractor and you may hire a subcontractor for a specific task. FACT: most of our clients do that. The subcontractor or one of their workers may get injured on the job. FACT: some of them get that. QUESTIONS: Are you liable for workers’ compensation insurance? Are you liable for general liability insurance? The answers to these questions could very well be yes, especially if the subcontractor is unlicensed and or uninsured.  You could be held liable for workers’ compensation benefits if the employee of an uninsured subcontractor gets injured while working on a project for you. The subcontractor damages your work or… Read More »Protect Yourself Before You Allow Subcontractors on Your Jobsite

Product Liability Insurance Exposures – Check you Operating and Assembly Manual

Even if you’re importing sourced or someone’s else product, as soon as you attach your label on the product, you become responsible for claims associated with the use of the product. Some of the claims can be avoided if operating manual is well written and easy to follow. How much, do you think, IKEA incurred in losses, because people assembling its products couldn’t figure out how to build that piece of furniture. Although, I have to admit, IKEA has made a great progress in writing its manuals. And their manuals are written without using any single word in any language. Simple. Easy to follow.… Read More »Product Liability Insurance Exposures – Check you Operating and Assembly Manual

Are You Covered Worldwide?

Whether you are an existing  multinational organization or exploring the possibility of expanding into the foreign market, In partnership with Travelers, we have the products, services and expertise to meet a wide range of international insurance needs in more than 90 countries. Our mission is to create unique solutions to your needs, no matter how complex. Did you know that one-third of the U.S. Gross Domestic Product is in international goods and services? In addition, recent industry statistics show that U.S. business is embracing global growth more than ever. Among the trends: 56% view globalization as an opportunity 46% currently sell products outside the U.S. 51% are traveling outside… Read More »Are You Covered Worldwide?

Small Business Large Expense – US Tort Claims

A new study from the U.S. Chamber of Commerce shows that small businesses paid $105.4B in 2008 for tort costs, with a third of it ( more than $33 BILLION, that is $33,000,000,000 !) out of their own pockets. According to the report, small businesses paid 81% of business tort liability costs but took in only 22% of revenue. The study, Tort Liability Costs for Small Businesses, also found that small businesses ($10M or less in annual revenue) paid, collectively, $35.6B of these costs out-of-pocket rather than through insurance. The study was conducted for the Chamber’s Institute for Legal Reform… Read More »Small Business Large Expense – US Tort Claims

Reduce Work Stress and Save on Health Insurance Benefits

Employers recognize the negative effects of workplace stress and are using various strategies to manage it, a Buck Consultants L.L.C. survey released Thursday concludes. 82% of the employers surveyed at the WorldatWork 2010 Total Rewards Conference & Exhibition in Dallas indicated that their health care costs are “significantly or moderately impacted by worker stress,” the New York-based human resources consulting firm said in a statement. About 80% said worker stress affects absenteeism, and 77% said it affects workplace safety. In response to workplace stress, 66% of the employers have put at least four programs aimed at reducing stress in place,… Read More »Reduce Work Stress and Save on Health Insurance Benefits

Electronic Health Records and Increased Liability Risk

The benefits of ever increasing information technology part in health records keeping is substantial, yet the Electronic Health Records System (EHRS) also provides with increased liability risks for health care providers as to possible software or hardware problems or user errors. On one hand, a quick transition to digital heath records seems long awaited part of the high-tech change. It may seem surprising that many health care professionals continue to keep notes and prescriptions on paper. Saying that, use of EHRS may result in problems with software bugs, creating additional liability exposures. Congress has made a $19 billion investment in promoting… Read More »Electronic Health Records and Increased Liability Risk

U.S. Suspicious Claims Up 136 Percent

The number of hail loss claims filed with insurers increased by 61%. At the same time, the number of claims referred for suspected fraud increased by 136%, according to a National Insurance Crime Bureau report that examines both hail loss claims and hail loss questionable claims  for the period Jan. 1, 2006 through March 31, 2010. During this period, TX was the top state in both hail loss claims and hail loss claims. The top 10 states represented 75% of the total number of hail losses and 82% of the questionable claims.

When Citizens Can Bring Private Actions for Alleged Violations in Georgia

Georgia Gov. Sonny Perdue has signed into law a measure that clarifies when citizens can bring private actions for alleged violations of state regulatory law, a moved hailed by tort reform advocates. The Transparency in Lawsuits Protection Act, which the Republican governor signed into law on Wednesday, allows a private right to action only when the state legislation under which the suit is brought expressly allows such a suit. Previous Georgia law left the interpretation of a private right to sue to the courts. Tort reform advocates hailed the change. “Clarity and transparency in legislative intent is critical, especially when… Read More »When Citizens Can Bring Private Actions for Alleged Violations in Georgia