Third Party Action Over Coverage

Third-party over- action is defined by the International Risk Management Institute 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,


Products Liability


A products liability policy provides coverage specifically designed for manufacturers, distributors, importers, and sellers of products.  The policy coverages provide defense and pay damages related to the manufacturing or selling of products, food, medicines, and other goods sold to the public.  Companies that carry products liability are protected for injuries caused to buyers,


Directors & Officers Liability Coverage

A directors and officers policy provides the directors and officers of a private company or nonprofit organization protection in the event a breach of duty is alleged.  The coverage pays for actual or alleged wrong decisions, which the policy refers to as wrongful acts.  Each insurance company provides its own definition of the coverage in its coverage form. 


Why Your Businesses Need Personal & Advertising Injury

You can generally get personal and advertising injury as part of your general liability policy.  The coverage can also be part of an umbrella or excess liability policy, as long as you have advertising injury scheduled as an underlying coverage.  When your operations are primarily media or internet, you will not be able to get coverage for personal and advertising injury under a general liability policy. 


Insurance Companies Have High Loss Ratios after Years of Storms in Oklahoma

The storms that hit Oklahoma in May produced two EF-5 tornadoes that caused 46 deaths and resulted in damage estimates that were above the $5 billion mark.  These devastating storms are examples of a pattern of storms that has left the insurance industry wondering what’s next.

CEO of the Independent Insurance Agents of Oklahoma,


Property & Casualty Rate Increases to Continue


According to financial analyst Keefe, Bruyette & Woods (KBW), the property and casualty insurance industry will continue to see rate increases due to increasing interest rates along with other economic factors.   KBW said there are three financial realities which will impact the industry, increasing interest rates, the sustainability of increasing premium rates,


Why You Need Media Liability


More small and medium-size companies are using social media in their marketing strategies, which has led insurance professionals to believe their client’s risk exposure will increase over the next year.  In a survey conducted by Torus Insurance, 58 percent of insurance professionals expect to see the need for media liability policies increase. 


Colorado’s Forest Fires Potentially reach over $100 Million in Insured Losses


Even though he official numbers haven’t been released for Colorado’s Black Forest Fire, according to the state’s insurance association, the fire may cost insurers over $100 million.  Carole Walker, executive director of the Rocky Mountains Insurance Information Association (RMIIA) said, “Adjusters have been in the process of compiling losses for several weeks now,


Fires Resulting from Clothes Dryers Cost $35 Million a Year


According to a government report released in 2012, approximately 2,900 clothes dryer fires in residential buildings are reported to US fire departments every year.  These fires cost an estimated $35 million in property losses.

The US Fire Administration (USFA) report stated that 84 percent of clothes dryer fires happened in residential buildings.