Category: Business Insurance

A great resource for both brokers and business owners who are trying to understand what type of business policy works best for them as well as keeping up with terms and changes within the industry. Being informed on the latest business insurance news can be easy with our online resouce updated daily.

Physicians, Is Your Tail Covered? Why Must You Consider Tail Coverage When Switching Practices

Guest Author
medical malpractice what is tail coverage

Many new physicians may feel relieved when offered a contract that includes malpractice coverage by the hospital. However, unfortunately, things are not the same when switching to another practice opportunity after a few years!  It is where tail malpractice coverage comes in. When switching your practice, it offers a backup plan in case any patient brings up a claim from your previous practice.  Even if you still think you do not need one, here are some scenarios where you may be required to, or it will be a good idea…

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Fannie Mae considers forgoing title insurance

Nordstrom
Title Insurance - Business

The government-run company is considering eliminating this requirement for some mortgage lenders. Fannie Mae is considering a program that would bypass the need for title insurance and attorney opinion letters, according to a number of recent media reports. The program would allow certain mortgage lenders to be able to waive the requirements for the coverage. The program Fannie Mae is considering would waive required title insurance coverage for some lenders on loans sold to the government-run company, according to a recent The Real Deal report. Fannie Mae backs trillions of…

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Ukraine parliament approves $500 million ship insurance fund

Marc
Ship insurance - Ukraine Flag

The country has made the move to help ensure that it can export more grain from its ports. As a component of a broader strategy to ensure it can export more of its grain, the Ukrainian parliament has approved a $500 million ship insurance fund to provide coverage for vessels experiencing any damage while at the country’s ports. The country is seeking to renegotiate the Black Sea Grain Initiative terms while Russia’s invasion continues. Ukraine is preparing for the renegotiation of the Black Sea Grain Initiative and have approved a…

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Workers compensation bill would cover mental injuries

Marc
Workers compensation - Claim Form - document

A new bill in Nebraska is aiming to recognize that not all injuries suffered on the job are physical. Under current Nebraska law, workers compensation does not cover mental injuries suffered by employees who are on the job when something traumatic happens. Employees of a business where a shooting takes place, for instance, are covered only for physical wounds. The emotional scars left behind from witnessing something terrifying or horrific are not covered by workers compensation in the state. However, a new bill introduced by Senator Carol Blood (Bellevue) is…

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2022 was a big year for weird lawsuits against companies

G. Turner
Weird lawsuits 2022

The US Chamber of Commerce Institute for Legal Reform released a list of some of the oddest suits. With 2022 behind us, it’s a good time to look back at some of the truly weird lawsuits that were filed against companies throughout the year and that help to explain why business insurance is such an important form of coverage. Every year, the US Chamber of Commerce Institute for Legal Reform publishes a list of ridiculous filings. The 2022 list of weird lawsuits showed that last year wasn’t short on ridiculous…

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MCA, Trucking Business, and Role of Trucking Business in Economy

Guest Author
trucking industry news and economy

The Motor Carrier Authority (MCA) is a regulatory agency that is responsible for overseeing the trucking business in the United States. Established by Congress in 1935, the MCA is a branch of the Department of Transportation (DOT) and is tasked with ensuring that trucking companies and their drivers comply with federal laws and regulations. One of the main functions of the MC authority is to issue operating authority to freight companies to meet legal demands. In order to obtain operating authority, a trucking company must have a valid USDOT number,…

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An issue with insurance sanctions has oil tankers stuck at the Turkish straits

H. Cutner
Insurance sanctions - Water - Turkish Flag

Negotiations have yet to come up with a solution to move ships carrying 23 million barrels of crude. The Turkish straits continue to have a backlog of oil tankers as of the writing of this article, and negotiations haven’t shown any indication of offering an insurance sanctions glitch solution. The tankers contain over 23 million barrels of oil from Kazakhstan and have been stopped from moving. The twenty six tankers were unable to pass the Bosphorus and Dardanelles straits last week due to issues relating to the insurance sanctions against…

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