coverage News

Business Income Insurance Covers Continuing Expenses Without Reduction for Insured’s Operating Loss

It is typical for business income insurance, the modern version of business interruption coverage, to provide for two components of actual loss of business, namely (1) net profit or loss before income taxes that would have been earned or incurred …

Defining the ‘Scope of Employment’

Utilizing Job Descriptions and Employer Policies to Determine Coverage for Employee Acts Allow employment lawyers everywhere to let you in on a secret: we love to kill trees. The more documentation, the better, when it comes to defending clients in …

Notifying Additional Insureds of Coverage Denials Under New York Law

Under N.Y. INS. LAW § 3420(d)(2), insurers that disclaim liability or deny coverage to an insured are required to give “written notice as soon as is reasonably possible of such disclaimer of liability or denial of coverage to the insured …

The Forces Behind Wind and Wave

Superstorm Sandy is poised to become one of the top three most expensive hurricanes in history. With close to 1.4 million claims filed, Sandy is likely to be the third most expensive hurricane in U.S. history in terms of insured …

Allstate Drops North Carolina Homeowners Who Insure Autos Elsewhere

Some North Carolina residents who insure their residences through Allstate are finding themselves dropped by the company for refusing to bundle their home and auto coverage. Allstate Insurance Co. has informed 45,000 homeowners that it will non-renew their homeowner’s policy …

Insurance Won’t Cover Idaho County Sheriff for Personnel Claims

Owyhee County’s insurer told the county commissioners it would no longer cover the sheriff against any claims involving personnel matters, prompting the commissioners to again ask Sheriff Daryl Crandall to resign. Crandall said he plans to finish his term, which …

Flood Insurance Program Extended Until Dec. 16

Congress has approved yet another resolution to fund parts of the federal government including the nation’s flood insurance program on a short-term basis. This time the funding runs until Dec. 16. The Senate passed the short-term funding bill on Thursday …

Enservio’s Personal Property Valuation System Determines Contents Coverage

Enservio, a provider of contents inventory creation, valuation and replacement services and software, announced ContentsITV (Insurance to Value), a personal property valuation system for determining accurate contents coverage for homeowners, condo owners, and renters. The system provides an online tool …

Oklahoma Lawmaker Wants All Daycares Insured

An exemption that allows some daycare operators not to carry liability insurance coverage should be removed, a state lawmaker told a legislative panel. More than 1,500 home-based daycare operators and nearly 140 day care centers in the state don’t carry …

How to Optimize the Value of Inspections

Insurance carriers spend approximately $190 million a year on inspection programs, yet 75 percent of inspections done today offer no immediate value to loss experience or a carrier’s bottom line, according to a claims firm. The problem with inspection efficacy …