We have what we have and enjoy what we enjoy as Americans (and this is true of most free-market economies) due in large part to the mechanism of insurance. Current economic conditions aside, without insurance houses would not be built; and if they were constructed,...
Its name distracts both buyers and agents: Kidnap and Ransom (K&R) coverage. It's something for big companies, they think. Or the uber-rich.
Well, no more, due to the slew of new and emerging dangers for businesses and other entities that work with, deal, supply,...
Convenience stores can and often do present a wide array of risk exposures. Beyond simple property and premises liability exposures, these stores often include products liability, pollution liability, crime, EDP and liquor liability exposures. In addition,...
Tracking down insurance and workers' compensation-related statutes is easy when you know where to look. You generally know the statute number for both in your home state and those states with which you work frequently. But there are situations where statutory...
Small businesses - from sole proprietorships to 500-worker firms - make up 97 percent of American businesses. The 25 million small businesses across the U.S. are the foundation of American enterprise. The insurance industry plays a vital role in helping this sector...
The Federal Emergency Management Agency (FEMA) does not have the information it needs to determine whether its payments to Write Your Own (WYO) insurance carriers are reasonable according to a July 2009, report from the Government Accountability Office (GAO). On...
Material Fact
Information or data supplied by the insured, the truth and accuracy of which the insurer relies on to make an underwriting decision. Three tests are applied when deciding if a fact is material or merely informational. A fact is material if:
The...
Cell phones, smart phones, MP3 players, computers, e-mail, the list goes on and on of technological inventions that are part of our everyday lives.
The observation that electronic data density doubles every 18 months---was first conceived in the mid-60's by Gordon...
Michael Jackson's untimely death has produced a flurry of articles in the mainstream media. Aside from tributes to the deceased, many of them have focused on what outlays and expenses, if any, for his projected 50 concerts at London's O2 Arena, can be recouped by...
"We are here today for your examination under oath. It is being taken subject to the policy's terms and conditions to illuminate all facts and circumstances surrounding your claim so the insurer may make an informed decision about your claim." This is the little...
