Just as it is important to obtain insurance coverage when you own a house or a car, it is equally important to protect your business. If you are the owner of a company of any size, it is highly recommended that you speak with an independent business insurance agent in order to find out about the types of coverage that are available to you, and to help decide which ones are right for you. This is a decision that should not be rushed, as shopping around will help you to…
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Eco-friendly construction increases professional liability risks
Insurers and risk managers are facing all new challenges in developing coverage for errors and omissions (E&O) for eco-friendly construction projects, which are similar, but still quite different from the risks associated with typical construction projects. This has lead to new trends and developments which are affecting purchasers for specialty lines of insurance such as E&O, directors and officers (D&O), cyber risk, employment practices liability, transportation, marine, and surplus. The reason for the difference between “green” and standard construction project risks is in the materials and technologies that are used,…
Read MoreBig Business, Big Lawsuits!
Lawsuits against big companies used to be very rare; but the times are definitely changing. From tobacco companies and fast food restaurants, to big banks and pharmacies; no one is safe from litigation. This is where Directors and Officers liability insurance comes in. Are you prepared to pay millions for the decisions your management makes? In some states, big companies are directed to cover directors (some include officers), releasing them from any liability of being sued. It was almost seen as a job perk because it was done to encourage…
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