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  • The Silica Problem

    "Silicosis" refers to a lung disease that is triggered by long-term, inhalation of silica particles. The Occupational Safety & Health Administration (OSHA) estimates that nearly two million American workers are vulnerable to contracting the disease and that the disease accounts for several hundred deaths per year.

  • Insurance – A Matter of Trust

    Insurance policies involve trust. Insurance policies are written agreements that involve at least two parties. One is the insurance company that provides the applicable form of protection. The other is the party who is protected by the policy. These two parties have a contractual relationship with each other. The insurer agrees to protect the insured if the insured agrees to pay for the protection.

  • Contractual Liability

    A business that harms another party or damages/destroys property that belongs to another party may be sued or prosecuted. Larger businesses protect against their liability to third parties with a Commercial General Liability (CGL) policy. An insurance company provides a CGL under some assumptions about the type of losses it is willing to cover. One issue that can undermine a CGL is contractual liability. Contractual liability involves responsibilities that a covered business voluntarily agrees (in writing) to take over from another party.

  • A Look at Lloyd’s

    The history of Lloyd’s begins at Edward Lloyd's coffeehouse in 1688. The establishment attracted the custom of merchants, particularly ship owners with vessels and cargoes needing protection and evolved into a meeting place where businessmen sought brokers to place insurance with wealthy, reputable men. Character and integrity were important because the persons (called underwriters) who agreed to invest in the ships and cargoes put their personal fortunes at risk in order to pay their share of any claim. If a ship’s voyage was successful, the underwriter would share in the profits.

  • Loss (Reporting) Control

    Insurance consumers experience all types of property losses and, depending upon how serious the loss is, property owners have to decide what to do. Typically, the next move is to get an insurance company involved. When a loss amount is high, this may be the only practical thing to do. However, when a loss involves a more modest amount, it may be smart to carefully consider if it is appropriate to file a claim.

  • Discontinued Operations

    Mergers and acquisitions are very complex legal transactions that, besides substantially altering regular operations, can also affect an organization’s insurance needs. Unforeseen liabilities may arise for merged entities that produce tangible products. One area of concern is a discontinued operation.

  • Business Insurance Costs

    Businesses price their products to cover the costs of production as well as their labor, sales marketing and other major expenses. Prices also reflect some post-sales costs such as handling repairs or replacements under warranty. At one time many industries used a pricing strategy for their products that failed to reflect their true costs. A once-popular assumption was that lower prices would promote increased sales and the higher sales volume would make up the cost difference. The strategy wasn’t successful.

  • The Commercial Umbrella Policy

    A Commercial Umbrella Liability policy is a coverage option that should be seriously considered by any business, regardless its size. Liability claims and court decisions involving millions of dollars are a reality. Any business can be found legally responsible for crippling financial judgments. A Commercial Umbrella Liability Policy increasingly referred to as an excess policy, can provide an additional layer of insurance protection to handle major losses.

  • Joint Ventures

    A joint venture is an entity formed by two or more businesses in order to pursue a specific purpose for a specified period of time. While some states require joint ventures to be legally filed, other states recognize any entity that meets the definition. A partnership differs from a joint venture as the former lasts indefinitely and its purpose may change.