Liberty Mutual Insurance has announced that it has now broadened its new commercial lead umbrella policy form in order to include an endorsement for crisis management in the hopes to provide increased protection for mid-sized organizations against the significant harm that can come from a business crisis. This new endorsement element provides customers with up to 72 hours in which to discover that a crisis has occurred, and then to make their claim, which includes coverage of up to $50,000 for Weber Shandwick support for crisis management. Weber Shandwick, a…
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Employers in California pay slightly more into premiums for workers’ compensation insurance
According to Dave Jones, the California insurance commissioner, the top 100 companies in the state, which make up 96.7 percent of its market, have increased the rates that they have filed by an 2.8 percent average so far this year. The average increase will impact the majority of businesses that are legally required to purchase plans that pay for an injured employee’s medical expenses when the injury occurred while on the job, and that offers compensation for work related disabilities both temporary and permanent. The majority of the policies held…
Read MoreThe importance of understanding what business interruption insurance can provide
According to partner Robert Glasser from the Dempsey Partners L.L.C. New York Office, it is very important for a company to assess its needs for business interruption coverage and to do so carefully. That said, while CFOs and risk managers are typically confident in determining many of the insurance needs of their organizations, they often balk in the face of business interruption because they don’t have a structured approach to provide them with the information they require to make their decision regarding this coverage and its limits. Unfortunately, this discomfort…
Read MoreWhat does reputation insurance have to offer?
Both individuals and companies run the risk of having malicious statements made about them in the social media, online forums, websites, along with growing mobile commerce trends as well as blogs, and as this is the case, they may benefit from purchasing insurance coverage that has been designed to protect their reputation on the internet. However, at the same time, these individuals and companies may wonder whether or not this coverage will indeed be worth their while. Many people would argue that because reputation is a person or business’s most…
Read MoreA new insurance product to protect companies participating in cloud computing services
Cloud computing is becoming a major phenomenon in the world of technology. The concept is simple: A collaboration of computing resources, software and other technologies that are offered as a service rather than a product. This brand of service is becoming popular in a number of industries as it allows companies to make use of high-performance technologies without having to rely on their own computers or devices. Essentially, the computer servers that comprise the cloud provide all the power, through which computers at a home or office operate vicariously. As…
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