Reinsurance is an insurance product for insurance companies, enabling them to transfer some of their risks to a reinsurance company.
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What to Do When Your Business Insurance Claim Gets Denied
If you are like most businesses, you pay a considerable sum for insurance coverage. In return, when you submit a claim for covered losses, you expect the insurance company to reimburse you.
“Other Insurance” Clauses in Insurance Contracts
Placing “other insurance” clauses in insurance contracts is one of many ways that insurers look to limit their liability.
Medical Providers Have Standing to Sue under ERISA in Ninth Circuit
The Ninth Circuit recently held that medical providers have standing to sue under the Employment Retirement Income Security Act of 1974 (ERISA)
Determining if Liability Insurance Claims Resulted from a Single or Multiple Occurrences
Commercial general liability (CGL) insurance protects your business from claims of bodily injury and property damage that are brought by third parties. CGL policies are almost always “occurrence-based” policies, which means they provide coverage for injury or property damage resulting from an event or occurrence that happens during the policy period.
Claims Made Policies & The Extended Reporting Period
Liability insurance policies allow companies to protect themselves from various risks. Some liability policies are “occurrence-based,” while others are considered “claims-made” policies. Claims-made policies may have an extended reporting period (ERP), which provides some protection after the policy period ends that may be important during times of transition.
Are Discrimination Claims Covered under Your Business Insurance?
Discrimination lawsuits against employers are increasingly common in the modern workplace. The U.S. Equal Employment Opportunity Commission (EEOC)reported 81,055 new workplace discrimination charges in FY 2023, up 10.3% from the previous year.
What Are the Consequences of Failing to Properly Notify Your Business Insurer of a Claim?
Insurance contracts generally require that policyholders provide the insurer with proper notice of a claim and, in many cases, an occurrence that may lead to a claim. Insurance companies insist on notice provisions to protect their interests.
Common Exclusions in Commercial General Liability (CGL) Insurance Policies
Commercial general liability (CGL) insurance protects against a broad range of potential claims from third parties that could devastate your business. But while CGL policies cover defense costs and losses for many categories of claims, this type of insurance has significant exclusions.