Shaun McParland Baldwin with www.insurancelawforum.com posted an interesting article describing how past year intellectual property claims were ruled by various courts and whether those claims were covered under the commercial general liability (“CGL”) policy. Read more
The overall cost and frequency of so called $50 million plus “super losses” in the U.S. healthcare insurance sector are on the rise. According to a report from specialist healthcare insurer Hiscox, the large losses keep on getting larger with juries in the last two years alone awarding more than $1 billion in total damages for just seven medical liability cases. The rise in large claims is happening despite the clear benefits of the implementation of quality and patient safety measures, Hiscox said. Record awards are being made in cases ranging from inadequate staffing at nursing homes to medical negligence… Read More »“Super Losses” of Healthcare Sector
In many of Cupertino, Calif.-based Apple Corp.’s television advertisements about its new iPhone 4S, individuals are shown using the smartphone’s new voice-activated assistant feature Siri to make appointments, find restaurants and even learn the guitar chords to classic rock songs. But if iPhone 4S users ask Siri what she thinks about a recently filed lawsuit accusing Apple of false advertising, she probably won’t understand the question, much less direct them to the complaint, according to disgruntled customer Frank F., who filed his complaint March 6 in U.S. District Court in San Jose, Calif. The suit, which seeks class action status… Read More »Is Siri As Smart As Apple Claims?
America’s wealthiest families increasingly worry that their wealth alone makes them a prime target for a high-stakes liability lawsuit in this uncertain time of high unemployment and tepid economic growth, according to a new report. But many wealthy families remain poorly prepared for such lawsuits in spite of their concern. They fail to appreciate the different aspects of their lifestyle that can lead to a lawsuit. They underestimate the cost of the potential damages, and they misunderstand the affordability of effective protection. As a result, wealthy families often lack the proper types and amounts of liability insurance. These are among… Read More »Costly Lawsuits Fright Wealthy Americans
Insurance journal has a good article written by a vice president, management liability/fidelity, at Liberty International Underwriters in New York Melissa Schwartz. The following bullet points describe some best practices that companies can use to minimize fraud exposures: Read the article
Flash mob — a group organized through social media to suddenly assemble in a public place. This holiday season retailers should be alerted for a potential risks posed by criminal “flash mobs” that might suddenly swarm stores to steal merchandise during the shopping season. In a statement, Marsh (NY) noted that thieves that take advantage of flash mob techniques to organize and overwhelm stores present a risk: 10% of retailers surveyed by the National Retail Federation this summer reported being victimized by at least one criminal flash mob event over the previous 12 months, with the occurrences often resulting in… Read More »Turn Flash mob Fun into Holiday Crime
Broadband and information technology are powerful factors in small businesses reaching new markets and increasing productivity and efficiency. However, businesses need cybersecurity tools and tactics to protect themselves, their customers, and their data from growing cyber threats. Here are ten key cybersecuritytips for businesses to protect themselves: 1. Train employees in security principles Establish basic security practices to protect sensitive business information and communicate them to all employees on a regular basis. Establish rules of behavior describing how to handle and protect customer information and other vital data. Clearly detail the penalties for violating business cybersecurity 2. Protect information, computers and… Read More »Eleven Cybersecurity Tips for Small Businesses
Travelers Cargo Elite® policy provides outstanding coverage for importers and exporters, including automatic “all risk”* coverage for international shipments of new merchandise – even for goods your client has never shipped before. Benefit from a policy that offers an extensive range of coverage features, streamlined reporting and the ability to issue online special policies anywhere, anytime. Cargo Elite Coverage Highlights: Policyholders have full rights to the possession and control of all damaged goods. If a loss is not immediately apparent at the time of delivery, Travelers coverage applies to the discovered loss up to 60 days after arrival to the… Read More »Cargo Elite by Travelers – Simply the Best
A workers compensation statute of limitations is a regulation in a common law legal system that sets the maximum time after an event that legal proceedings based on that event may be initiated. For example, such legal proceedings may involve claim subrogation or premium collection. California’s statute of limitations for collecting unpaid insurance premiums begins once an insurer has sent its final audit bill to the policyholder, and continues for 3 years. In a unanimous opinion, the court said the California State Compensation Insurance Fund could collect on $1 million in workers compensation premiums owed by building contractor, even though… Read More »Workers Compensation Statute of Limitations Explained
California has become the seventh state to prohibit credit checks in making employment decisions with legislation governor signed into law. With the signing of A.B. 22, California joins Connecticut, Hawaii, Illinois, Maryland, Oregon and Washington state in barring credit checks of prospective employees, according to the Denver-based National Conference of State Legislatures. To date, 58 bills in 28 states and the District of Columbia were introduced or pending in the 2011 legislative session, according to NCSL. Certain jobs exempt Under California’s law, which is effective Jan. 1, 2012, employers can use consumer credit reports for employment purposes only for the… Read More »Employment Decisions Based on Credit Prohibited in CA