The latest on Kidnap and Ransom losses and exposures from around the world. December kidnapping-for-ransom overview An overview of the security situation in Mexico in 2012 The kidnapping-for-ransom situation in Pakistan and the threat to British Pakistanis Read More - Issue_71_January_2012
In the summer of 2007 we were given notice our business insurance was expiring, so we needed to get a new insurance policy. I pretended to get in shape by swimming, and a woman in my lane owned an insurance business. Since I would see her multiple times per week, I wanted to purchase insurance through her agency.
The European Union has issued a ruling that each state was supposed to pass national legislation transposing the Directive by April 30, 2007 which most states have failed to do. However, Spain and Italy are much further along than most other states.
Fitch Rating Service has upgraded Lloyds of London from A to A+. This revision was based upon the agreement of National Indemnity Company (a Berkshire Hathaway subsidiary) to reinsure all of Equitas’ remaining liabilities, guarantee to provide up to US $7 billion of additional reinsurance coverage and manage the run-off of asbestos claims. Standard and [...]
A good risk management practice is to have the other party name you as an additional insured on their insurance policies providing you the coverage as specified in a written contract. Numerous endorsements are now being utilized to provide additional insured status and some will not provide the coverage you should require. Your contract, master [...]
So many times we hear that Texas is "hire and fire at will" state. Assuming you do not violate a contract it is, but that does not mean you can not be sued and found guilty of violating some state or federal statute when dismissing an employee. Allegations of age discrimination, wrongful termination, sexual discrimination, [...]
The courts adopted amendments to the Federal Rules of Civil Procedure, which govern the discovery of electronic information. All businesses should take notice because failing to properly maintain or account for electronic documents and data could cause huge problems and be extremely costly in satisfying the court that you are complying with discovery requests. To [...]
Punitive damages may or may not be insurable depending upon the state in which the case is tried. In those states where it is not, the justification is usually that punitive damages should be a penalty which will act as a deterrent to egregious behavior. Being able to insure against it negates the deterrent. Standard [...]
For most insureds the market is soft and pricing is less this year than last for most lines of insurance with the exception of coastal property. Terms, conditions and deductibles can be improved as well. Last year was a very profitable year for insurance carriers and the excess insurance capacity that has entered the market [...]
