Commercial property insurance will reimburse you for direct physical loss to covered business property caused by a covered peril within your policy period. There are two basic types of coverage for property damage: replacement cost coverage and actual cash value, or ACV, coverage.
Your commercial general liability (CGL) insurance policy is the foundation for your company’s insurance program. Most businesses need a CGL policy, which provides broad coverage if you cause bodily injury or property damage, and, in some cases, personal injury, to a third party.
When your business is sued by a third party, your liability insurance company has a good-faith obligation to honor the promises it made to you in your insurance contract. This includes defending you in court and indemnifying you for any judgments or settlements for covered claims, up to the policy limit.
Employment practices liability insurance (EPLI) is a necessary product for many businesses in today’s litigious world. EPLI protects your business from various kinds of lawsuits brought by current, former or prospective employees.
Reinsurance is an insurance product for insurance companies, enabling them to transfer some of their risks to a reinsurance company.
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.
Placing “other insurance” clauses in insurance contracts is one of many ways that insurers look to limit their liability.
The Ninth Circuit recently held that medical providers have standing to sue under the Employment Retirement Income Security Act of 1974 (ERISA)
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.