Directors and Officers Liability and Employment Practices Liability Coverage The term “continuity” is frequently used when discussing directors’ and officers’ liability insurance; employment practices liability insurance and other claims-made policies. The objective is to see that the original coverage is maintained, without gaps, as insurance is renewed from year to year. The “chain of continuity” … Read more
To date many states have enacted legislation that limits the liability of the non-profit boards of directors to some degree. As a result, some organizations have concluded that they do not need to carry Directors and Officers Liability insurance for their organization. This is a mistake. Since tort reforms are mostly untested in the courts, … Read more
Non-Profit organizations know that an injury to an employee, severe property damage or lawsuits destroy productivity. Therefore, it is obvious that all losses should be avoided or reduced. For non-profits that cannot afford an in-house safety officer, insurance company loss control representatives act in the same capacity to review the overall picture. In some cases, … Read more
After an employee has embezzled money from your organization you will need to submit proof of loss to the insurance company that provides coverage for this monetary loss. There is specific time allotted to report these claims for coverage to apply, so please remember to report all events to your insurance representative immediately, even though … Read more
When you rent a vehicle, the contract between the lessee (your employee or volunteer) and the lessor (Rental Company) will dictate when the insurance coverage begins and ends. Each contract will differ. When an individual enters into the contract their individual Personal Automobile Policy will be excess over the insurance on the vehicle itself. This … Read more
Non-ownership Automobile Liability involves situations when an employee’s personal car is used in the service of the business. If an accident occurs, injured parties may sue you, the employer and/or the employee for injuries and damages. The non-owner policy form of commercial automobile liability policy protects the employer and employee for bodily injury and property … Read more
The number of employees alleging discrimination, wrongful termination, sexual harassment and retaliation has increased. An EPLI policy shields employers from claims of harassment, discrimination, failure to hire, wrongful termination and includes all current, former, and prospective employees, directors and officers, and the corporate entity. The cost of EPLI coverage varies depending on your type of … Read more
There are two different kinds of liability policies on the market today. The difference between the two forms can best be described by giving an illustration. The occurrence policy provides protection through the insurance company that insured you at the time of the incident and must defend you and pay any judgment against you, up … Read more
Business Income insurance pays for the actual loss of business income that you sustain due to suspension of your business operations as a result of damage or destruction to your property. This suspension must be due to a direct physical loss at the premises that is described in the policy and result from a covered … Read more
Builders’ risk insurance is a form of property insurance that covers property owners and builders for projects under construction, renovation or repair. This insurance is similar to Building and Personal Property coverage; the difference being, this coverage is used to cover buildings during the course of construction. Builder’s risk provides coverage on an “all risk” … Read more