With lawsuit judgments getting larger and larger for many predictable business mishaps, it’s worth taking a moment to review the changes at your company recently and to ask if your coverage is adequate to the current legal environment. General liability and even business-specific coverage like third-party liability for contractors have their limits, though, so it’s not always an option to simply buy more insurance. Nor is it always the best choice. Supplementing a policy that generally covers what you need for basic mishaps with one that provides excess liability coverage under narrow circumstances could save you a lot of money. In some cases, it might even let you lower your coverage limits for your general liability coverage by filling an important gap.

When Does Excess Liability Insurance Kick In?

The point of an excess liability policy is not to replace your general liability policy, but to protect against situations where a court judgment exceeds it. Since its coverage provisions are quite narrow and it doesn’t need to take care of general issues like paying for the medical expenses of people injured on-site outside of a settlement judgment, it can be written to be much more cost-effective for its coverage value than a general liability policy with the same upper limits. This helps you avoid overpaying for insurance without undercutting your protection, and it’s worth talking with an insurance professional about whether it’s a good fit for your business.

If you think the term library risk management is an oxymoron, then it has probably been a while since you last visited your local branch. Gone are the days of musty-smelling buildings filled with old books, managed by a prim old woman shushing the voices of patrons. Modern libraries are community hubs where people young and old come for information in every conceivable format. Any public place with this much activity needs protection, and consequently a risk management plan.

What could go wrong at a library? Consider the following:

  • Natural disasters like hurricanes, wildfires, and tornadoes
  • Pests like bedbugs, lice, or termites
  • Unlawful activity including the use of weapons or drugs
  • Unruly patrons, for example, those who act disruptively, stalk employees or steal from the library
  • Unanticipated closures due to power outages, disease outbreaks, or threats of violence
  • Accidents causing injury to patrons
  • Lawsuits against library staff

Don’t get caught by surprise when an unfortunate incident occurs. Hope for the best, but be prepared and have a plan in place should you ever need to react to one of the above situations. Of course, as the experts at Regan Insurance Agency point out, not every threat is substantial enough to warrant action. Thus, thresholds must be set so that everyone understands when to act.

An international textile analysis laboratory can provide ways to properly clean articles of clothing. Perc dry cleaners use a variety of chemicals the Environmental Protection Agency considers hazardous waste. Properly disposing of these items is an important part of reducing pollution risks.

Solvent Residue

The experts at Irving Weber Associates state soil and stains are removed by dry cleaners using solvents rather than water. These solvents produce residues that need proper containment to avoid polluting the environment. The residue can stick to the machines and needs proper disposal when the machine is cleaned.

Process Water

Due to the process of dry cleaning, some water floats on top of the perc solution at the end of the cycle. This process water is then easily removed. However, because it was mixed with the solvents, it contains hazardous waste.

Filter Cartridges

The filter cartridges filter out the solvent tumbling through the machines and cleaning clothes. At some point, the filters become clogged with dirt and debris and need replacement. Since they filtered out solvent, they must be properly disposed of.

The valclene or perchloroethylene used in the dry-cleaning process classifies as hazardous waste. When considering what the international textile analysis laboratory recommendations are, be sure to follow EPA guidelines for properly caring for the business itself. Following EPA guidelines can ensure you reduce your pollution liability.

Spring is here bringing an increase in tornadic activity in many states. While having mobile home insurance can help protect your assets should tornado damage your home, there are some steps owners can take to protect themselves.

Potential Damages

As referenced on https://www.byrnesagency.com, wind, lightning, and hail can all happen in a severe thunderstorm producing tornadoes. These elements can cause damage to your home. For example, a tornado can pick up the home and move it. Or it can drop objects from somewhere else onto your mobile home.

Shelter Plan

Before a tornado warning goes out, make sure you know what your plan is for shelter. Mobile homes do not provide a stable shelter. Many people create their own or go to a designated shelter nearby. Have a plan in place to prevent panic and ensure the safety of your family.

Structure Support

If possible, you may want to consider providing the mobile home with more secure structural support. For example, a home anchored to a concrete foundation is safer than one that is not. These lightweight structures make them easy to manufacture but do little against the damaging strength of a tornado.

Following these guidelines can help you protect what’s most important to you during the tornado season. Mobile home insurance can help take care of the rest.

There is nothing quite like sharing a passion for sailing, racing and adventuring with others equally as passionate. Turning the love of yachting into something more tangible creates endless opportunities to learn, build friendships and so much more. With all the benefits a yacht club provides, regardless of the size, it comes with inherent liabilities. The experts at Mariners Insurance have various flexible yacht club insurance programs to keep the fun protected.

The Basics

No matter the size or amenities offered, the minimal coverage needed includes general liability and commercial. As part of the latter, your property would be covered in the case of a fire, vandalism, wind and other situations as dictated by the policy. General coverage provides broad liability protection regarding the public, members or visitors.

More Options

As the club grows and perks are added, it is necessary to rethink what is covered. The addition of boat storage, a clubhouse, employees, and instructors, just to name a few, increases the chances of needing additional liability coverage. Making a comprehensive list of what the club offers helps make it easier to decide what packages may be needed. Additional coverage may include the following:

  • Boats owned, borrowed or rented by the club
  • Third-party boats stored at the facility
  • Piers, docks, wharves, equipment, trailers and other property
  • Liquor liability
  • Races, regattas and cruises
  • Workers compensation
  • Commercial auto
  • Pollution
  • Flooding

Most commercial general liability policies contain exclusions when it comes to accidents involving pollution, so it’s important to evaluate if you have a gap in this area. The most common industries with potential concerns are manufacturing, transportation and construction, as stated by https://www.haughn.com. However, other smaller businesses can also be held liable for harmful exposures to the environment. It is essential to understand your risk and associated coverage before any situation arises.

Highlights of a Typical Policy

No one expects to be involved in a scenario where hazards escape into the environment, so understanding what commercial pollution liability means beforehand is beneficial. For contractors, it may even be required to have this coverage prior to starting a job. Hazardous materials can be spread in many ways and may affect people as well as property, so protection usually revolves around several factors:

  • Contamination (air, land, water) of an external site from the insured property
  • Contamination of insured site
  • Bodily injury
  • Property damage
  • Clean-up costs

Some other factors to look for in a policy include coverage for releases from underground storage tanks, a clause for an extended reporting period, and handling of costs for a legal defense. Additional customization may be warranted based on the industry, so discussing all options with a professional will ensure you are shielded from all possible risks.

Finding the right insurance for your company can be tough in any industry, but when you work in oil and gas, there’s another layer of specialization needed. That’s because the location is important to the kinds of coverage you need and the amounts you should insure for as policy maximums. The requirements for companies operating in extraction in New Mexico will not necessarily be those faced by, say, a refinery in Minnesota. That’s where having regionally specialized help can come in handy. At https://www.danielsinsuranceinc.com/, you will find information built for the New Mexico oil and gas industry, including both extraction-focused companies and those who refine and deliver oil and gas derivatives to residential and business clients.

Coverage for Your Business and Equipment

The machines used for your core business are specialized, finely calibrated, and for the most part, high-value. That means you need insurance for the oil and gas industry that knows how to protect them, as well as how to assess the real replacement value when it comes to a lot of custom rigs and pieces that had to be fabricated to suit the operation they’re applied to. Not every business insurer is ready to properly value those kinds of assets, but companies with industry experience insuring petroleum extraction and refining operations will be able to set you up with a coverage that really reflects those needs.

It’s quite common for smaller companies and startups to function on an efficient staff that is closely-knit, with a simplified corporate structure. It really makes sense to operate this way as long as you can, because the small community of people who understand each other is an efficient decision-making unit. It’s also impossible for it to sustain if your goal is to grow your company, especially if that growth is in the direction of an eventual IPO. When your operational complexity rises to the point where you need a corporate board and a full slate of traditional company officers, it’s time to look into revamping your risk management plan to include D & O liability and other important management insurance products.

A Broad Net for Coverage

It’s very easy to under-insure growing corporations because their fast expansion can sometimes lead to liability in areas the old plan does not cover yet. That’s why it’s essential to work with a provider who understands everything there is to know about insurance for your executives and company management, as well as providers who can give you standard coverage options like general liability insurance and worker’s compensation. Axis Insurance Services has provided a clear rundown of how D&O policies differ from other kinds of corporate insurance, and it’s vital for your company’s new officers to understand how it protects them individually, in addition to the way it protects the company.

When it’s time to send your kids off to college, it’s important to think about how this will affect your car insurance premiums. You may be able to save money on car insurance for college students if you can keep it on your policy, but there are a few other factors that may help you keep your young drivers protected while paying a little less each month for coverage.

Bundle Policies

Many insurance companies offer discounts if you bundle related policies. You can usually keep your young adult’s car on your insurance if one of two criteria are met:

  • The car title is in your name.
  • The car is jointly titled.

Even if the title is in your son or daughter’s name, you can still save money by bundling policies. For example, the experts at www.byrnesagency.com recommend that you invest in renter’s insurance when your children are away at college. If you bundle this coverage with their car insurance, you could pay smaller premiums overall.

Look at Crime Statistics

Surveying the crime statistics near your children’s top choices for schools does more than just take their personal safety into account. Choosing a school in an area with less crime could result in lower car insurance premiums, as there is less risk of vandalism or theft.

Knowing your children’s vehicles are covered when they’re away from home can give you peace of mind. It’s smart to ask your agent how you can get the best coverage for the lowest premiums.

Condo associations need to have insurance coverage in order to protect themselves against possible crime and other problems that could arise. Here is how having fidelity coverage for condo associations can help protect a home owner’s association.

Protection Against a Variety of Situations

There are different instances of crime that could lead to a substantial loss if not protected against through insurance coverage. In the case of a homeowner’s association, different types of fraud can occur when there is employee dishonesty. This could range from check fraud to embezzlement, or other types of problems such as theft. Having coverage can protect you should these instances take place, according to Kevin David Insurance Services.

Insurance Can Provide Peace of Mind

If one of these instances occurs and there is no insurance, it can be upsetting to think about what the financial consequences might be. By having coverage in place, you can feel better knowing that the condo association is protected and that it is possible to get these issues handled in a timely matter without losing a lot of money out of pocket.

Getting fidelity coverage for condo associations can offer protection against many different situations, such as computer fraud. It can also make running the association easier without worrying about other potential expenses related to instances of fraud.

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