Even if it’s the first product liability suit you’ve heard of in your 20 years at the company, it is nevertheless the product liability suit. And there will be a lot of expense associated with representation and settlement.
Your product must fit its purpo
As many as 50 storefronts were damaged or destroyed in rioting and looting in Vancouver Wednesday night following the Vancouver Canucks Stanley Cup Finals loss, though not all of the riot damage will be covered by insurance. While Business Owners Policy would cover for things like theft and vandalism, and fire related losses, storefront windows are usually covered under a special contract with glass companies, and often exlude riots, criminal acts and terrorism.
New York City Police Pay More in Liability Claims Than Hospitals. Meaning that NY doctors are better prepared to fight on the legal scene for their malpractice, and not police. My friend recently become an expert witness – registered nurse that can testify before the court clearing the questionable claims. And all only with 2 years of nursing school, 2 years of experience, and 6 month of special classes. May be NY policy can spend a little more time educating their officers about laws and best arresting practices? Allstate’s April-May Catastrophe Losses Top $2 Billion. Once I arrived to the… Read More »Interesting Industry News
Employment in the field of third party administrators and claims adjusting is set to grow 5.7 percent annually between now and 2016, according to industry research firm IBISWorld. Insurance carriers and brokers are increasingly outsourcing risk management functions. In turn, third-party administrators and insurance claim firms will have to bolster personnel. These are not new jobs. These are transplant jobs from brokers and companies to third party administrators. The result will be same number of people employed, but lower salaries.
In addition to the full complement of HR helpline services available to policyholders, we have been a consistent, steady market for Non-profit D&O and related coverage for over 6 years. We can provide coverage for virtually all classes of business, including nursing homes, water districts, airport authorities and social service organizations. We can work from any carrier’s application, turnaround time is about a day, and policy issuance usually happens within a day. We offer A+ A. M. Best security from Old Republic Insurance Company, defense costs outside the limits, and no emotional distress or mental anguish exclusion of any sort.… Read More »Non-Profit Management Liability (D&O / EPL / Fiduciary Liability)
Devastating tornadoes, floods, earthquakes overseas and a busier-than-usual hurricane season have U.S. insurance companies bracing for record losses in 2011. Globally — including the major earthquakes in New Zealand and Japan — U.S. and overseas insurers could post up to $55 billion in losses, EQECAT projects. In the United States, billions of dollars in damage were the result of a rare violent weather hitting densely populated areas. Paperless advise: Check your insurance for the following coverage 1. Drain back up 2. Debris Removal 3. Flood 4. Consequentual loss 5. Loss of business income 6. Exterior Sign Coverage 7. Earth movement… Read More »Record Losses from Weather
A Colorado Court of Appeal has ruled that an insurer cannot file suit against another insurer for its failure to cancel a policy. According to court documents in First Comp Insurance v. Industrial Claim Appeals Office of the State of Colorado, First Comp Insurance asked the court to review the finding of an administrative law judge that it was liable for funeral expenses arising out of a workplace fatality because Pinnacol Assurance, the insurer for the decedent’s direct employer, failed to properly cancel the employer’s workers’ compensation insurance policy. According to court documents, when an employer was fatally injured in the… Read More »Which Insurance Company Should Pay for Expenses?
How many good news from Florida have we seen lately, particularly in the area of bad faith litigation. Not too many… However, the Florida Supreme Court has declared that the liberal rules that it adopted a few years ago requiring disclosure of work product in first party bad faith cases does not apply with respect to attorney-client privileged communications. In connection with evaluating the obligation to process claims in good faith under Section 624.155, all materials, including documents, memoranda, and letters, contained in the underlying claim and related litigation file material that was created up to and including the date… Read More »New Florida Discovery Rules
California leads the nation in the number of claims made and paid out by State Farm Insurance for dog bites, according to the Bloomington, Ill.-based insurer. The insurer recorded 369 claims were made, and $11.3 million was paid out in the Golden State in 2010. In 2009, only State Farm paid out $90.1 million in dog bite liability claims in the United States. That compares to $83.2 million in 2008, $84.6 million in 2007 and $78.1 million in 2006. In terms of the number of claims, it was more than 3,500 in 2009, which is similar to in previous years.… Read More »Dog Bite Claims Highest in California
Should I avoide going to Michigan? Probably yes… But should I ever have to go to Bay City, MI – I’d better have my GPS on at all times. Or something bad can happen to me – like with Bay City, MI resident, who tripped and fell on a sidewals and has lost his lawsuit against the city because he gave the wrong location. He trip and fall and informed the city of the bad sidewalk, but the case was rejected because he said that the accident occurred on NE corner, where it was actually on NW corner. The court of appeal dissmissed the case, saying:… Read More »No Rough Approximations in Michigan