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Coverage for Nuclear Exclusion Risk

Willis Group Holdings has developed a new insurance product to cover business interruption costs for companies with key locations, suppliers or customers situated in the vicinity of a nuclear power station. The coverage would apply should they be forced to suspend operations in the event the plant’s safety is compromised and an exclusion zone is implemented to contain the damage. The cover was developed by Willis Global Markets International (GMI), a division of Willis Limited, as a response to the earthquake and tsunami that struck Japan in March and triggered a meltdown at the Fukushima nuclear power plant. The consequent radiation leak saw the… Read More »Coverage for Nuclear Exclusion Risk

Renew Licenses Online in MI

A new state policy will let Michigan drivers renew their vehicle registrations online through their birthdays even if they do it close to the expiration. Now, motorists who renew online will be able to print off a temporary registration document until their new tabs and registrations arrive in the mail. You can get more information on Michigan DMV website

Insuring Against Employment Discrimination Claims

Employers commonly obtain insurance to protect themselves against the numerous claims that might be made against them that arise in the course of doing business. The more traditional of these insurance policies are comprehensive general liability (CGL) and directors and officers (D&O) policies. Employers, concerned about liability for their employment decisions, including liability for unlawful employment discrimination, increasingly have begun to look for more effective insurance coverage against such claims, because of the mixed results in coverage under the more traditional D&O and CGL policies. The move toward insurance against employment discrimination claims is fueled not only by the growing… Read More »Insuring Against Employment Discrimination Claims

Back to School: Driving Safety Tips

Avoid Cramming, Pack Right. Even though your son or daughter will try to fit every last piece of dorm room equipment into the car, make sure whoever is driving is able to see out of the rearview mirror despite a fully packed car. Nothing should be packed above seat level in order to avoid projectile movement of objects if the need to stop short arises. Pack right by making two trips or shipping what will not fit safely in the car. Take a Break. Whether you or child is driving, make sure to plan to take stops and break up your drive… Read More »Back to School: Driving Safety Tips

Are Riots Covered on my Business Insurance Policy?

As businesses in England begin to seek insurance coverage for revenue lost as a result of recent rioting, business owners and executives elsewhere might wonder how their business interruption coverage would respond to a sudden outbreak of a riot. Most admitted insurance companies do offer business interruption coverage built into their commercial property policies that would respond to riot-related losses. Beyond income lost as a result of direct property damage, commercial property insurance also covers income lost due to restricted access to the property. In some cases, the coverage will pay employee wages in the event of a business interruption.… Read More »Are Riots Covered on my Business Insurance Policy?

Prepare for Business Interruption

Attorneys and insurance experts offer these tips on preparing for business interruption and pursuing reimbursement from insurers: EVALUATE YOUR RISK PROFILE: Take stock of specific risks posed to your company, industry and area. Stay informed of developments that could lead to civil unrest. Perform the same evaluation for entities in your supply chain, primary customers and receivers. KNOW YOUR POLICY: Work with your broker or risk consultant to understand the limitations of your business interruption coverage, including duration and proximity exclusions. DOCUMENTATION: Insurers typically require claimants to provide evidence of damage or lost income, and proof of a government-ordered evacuation,… Read More »Prepare for Business Interruption

Subrogation Limits in Workers Comp. Cases

A ruling handed down by California’s Supreme Court represents a loss for workers compensation payers’ ability to pursue subrogation claims against certain third parties responsible for an employee’s injuries. Ruling in Seabright Insurance Co. vs. US Airways Inc., the court said Monday that an insurer cannot sue a third-party company when the hiring company fails to follow safety regulations and an injury results. The case involved an employee of Lloyd W. Aubry Co., which US Airways hired to maintain a luggage conveyor at San Francisco International Airport. The conveyor lacked safety guards required under California occupational safety regulations, the court… Read More »Subrogation Limits in Workers Comp. Cases

Finally, California Workers Comp. Rate Decrease

The Workers’ Compensation Insurance Rating Bureau of California on Thursday said it will call for a pure premium rate decrease of 1.8% under a new loss cost calculation method. If adopted by California’s Department of Insurance, the suggested rate decrease would take effect Jan. 1, 2010. The new rates the WCIRB is proposing for about 500 industry classifications are projected to average $2.33 per $100 of payroll. That is 1.8% less than the corresponding average of insurer-filed pure premium rates as of July 1, 2011, it said. But although the WCIRB is recommending a pure premium rate reduction, it also… Read More »Finally, California Workers Comp. Rate Decrease

Pollution Liability Insurance Online by Navigators

The Navigators Group Inc. and its principal underwriting agency subsidiary, Navigators Management Co. Inc., expanded its online system for contractors pollution liability insurance. New enhancements to the online platform include options for affirmative coverage for fungus/mold caused by negligent contracting operations; increased available limits up to $2 million each occurrence / $4 million all occurrences; and an increased revenue threshold for eligible contractors up to $10 million in annual contracting receipts. The online system targets small- to medium-sized service and trade contractors and can accommodate over 70 different contracting categories. Policy premiums with fungus coverage can start under $600 (plus applicable fees… Read More »Pollution Liability Insurance Online by Navigators