Understanding the four levels of "insured" status and each one’s relationship to the coverage provided allows improved preparation and planning in the initial design and implementation of the insurance program.
Risk management is a process combining methods for reducing or avoiding an undesirable event with sources for covering the adverse financial losses that result from the occurrence of the undesired event.
Legal liability is liability imposed by law on the person or entity responsible for the financial injury or damage suffered by another party or individual and can arise from intentional acts, unintentional acts or contracts.
Insurance Services Office (ISO) filed 11 form changes, 70 endorsement changes, and added six new endorsements in its 2013 commercial general liability (CGL) filing. Obviously, there is a lot new for the coming year.
Employers' Liability protection is often overlooked or just plain ignored by many agents and brokers. The gaps filled by this coverage are too important to act carelessly when planning this protection.