• 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.