Understanding the Third Party Action Over General Liability Exclusion


The International Risk Management Institute (IRMI) defines third-party-over action as:  “A type of action in which an injured employee, after collecting workers’ compensation benefits from the employer, sues a third party for contributing to the employee’s injury.  Then, because of some type of contractual relationship between the third party and the employer,


Claims Against BP Contractors Dismissed


The federal judge conducting the trial dismissed claims against a BP contractor and the company that made the key safety device on the drilling rig.   US District Judge Carl Barbier, ruled there was no evidence that BP’s drilling fluids contractor M-I, LLC made any decision that led to the blowout of BP’s Macondo well. 


Workers’ Compensation Rating System


As a business owner, you may feel that your workers’ compensation premiums are too expensive and are continuing to increase.  You’ve never had a worker’s compensation claim and don’t understand why your premium either stays the same or increases each year.  Your instinct is to shop your premium each year for better pricing. 


Risk Associated with Lightning Strikes


Benjamin Franklin’s invention of the lightning rod seems to be an outdated way for businesses to protect against lightning strikes.  Today’s technology has increased the risk associated with damage from lightning strikes.  According to the Insurance Information Institute, in 2010, fires caused by lightning strikes resulted in over $1 billion in insured homeowner’s losses.


$100 Million Crop Insurance Fraud Ring Busted

$100 Million Crop Insurance Fraud Ring Busted

A scheme between dozens of insurance agents, claims adjusters, brokers, and farmers in North Carolina were busted by federal agents for attempting to scheme $100 million from the government-backed program that insures crops.   Forty one defendants have pleaded guilty or reached a plea agreement.  The false insurance claims were filed on tobacco,


Texas Voters in Support of Proposed Legislature – Licensed Roofers


According to a recent survey conducted by the Insurance Council of Texas (ICT), Texas voters are in support of requiring roofers to be licensed in the state.  The survey was conducted November 24– 28, 2012.  Eighty three percent of those surveyed said they think roofing contractors should be licensed in order to repair or replace a roof on their home. 


Small and Mid-Size Companies’ Need for Media Liability Policies Increasing


Insurance professionals believe their clients’ risk exposure will increase in the next year, because more small and medium size companies are incorporating social media in their marketing strategy.  Specialty-insurer, Torus conducted a survey of 105 insurance professionals during the November 7-9 Professional Liability Underwriting Society Conference.  Fifty eight percent expect to see an increase in the need for media liability policies to reduce social media risk. 


Understanding Cyber Liability


The cyber liability insurance world has many special challenges.  No business is safe from a data breach.  This has been proven by high-profile companies such as Sony and Epsilon who made headlines due to their data breaches.  In addition, hackers are continuing to advance their strategies.  Following are a few key trends in the cyber liability insurance world: 


Auto Liability Insurance – What You Need to Know


Each state in the U.S. has restrictions for driving a vehicle.  Each state has a minimum auto insurance requirement.  All vehicles have to carry auto liability insurance.   Even if you don’t own a vehicle, you’re responsible for making sure the vehicle you drive has liability insurance.  Some states have computerized financial responsibility systems to verify if you have auto liability insurance. 


Why Companies Need Products Liability

Product liability insurance coverage is a policy designed specifically for manufacturers, distributors, importers, and sellers of products.  This policy provides defense and pays damages related to the manufacturing or selling of products, food, medicines, and other goods to the public.  The policy provides coverage for injuries to buyers, users, or bystanders that are caused by a defect in the product,