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Injury claim severity in the state is slightly higher than in the rest of the country. Propertydamageliability claims per 100 insured vehicles are 15 percent higher, and relative body injury claims frequency is 60 percent higher. The five-year average count for liability claims increased 24.9
It helps cover accidents, repairs, and liability claims, ensuring your business isn’t financially burdened by unexpected incidents. Beyond vehicle coverage, you may also need generalliability insurance, which protects against third-party claims for injuries or propertydamage during business operations.
Over-serving of alcohol: Restaurants can face legal and financial fallout if the alleged over-serving of a patron leads to propertydamage or a car accident. Slip-and-fall incidents: High foot traffic in dining areas and restrooms increases the risk of customer or employee injuries, which can lead to costly liability claims.
Contingent bodily injury cyber attacks can cause physical harm, directly or indirectly. One key step is making sure clients have adequate coverage options for bodily injury in their Cyber Liability Insurance policies. Cyber Liability for Bodily Injury: Some Examples How might a cyber incident end up causing bodily harm?
This practice note discusses project delays due to defects or deficiencies, poor coordination or communication with the owner or other members of the design/construction team, or the discovery of defects during or after the project, as well as claims involving construction accidents or personal injuries that occur within the construction area.
This practice note discusses project delays due to defects or deficiencies, poor coordination or communication with the owner or other members of the design/construction team, or the discovery of defects during or after the project, as well as claims involving construction accidents or personal injuries that occur within the construction area.
While you may have the basic insurance policies in place, such as property and generalliability insurance, there are several other essential insurance policies that you might be overlooking. Additionally, generalliability insurance typically does not cover claims related to professional services or cyber incidents.
In this article, we will explore different types of insurance coverage that can help safeguard your business from propertydamage, liability claims, cyber threats, and more. There are various types of liability insurance, including generalliability, product liability, and professional liability.
Generally, the only exception to this exclusion is if the mold results from another cause of loss (i.e., Environmental / Pollution Environmental/pollution policies are available in the market and can contemplate both the first party (property) and third party (generalliability – bodily injury/propertydamage) mold exposure.
PropertyDamage : Traditional cyber policies typically don’t cover physical damage caused by cyber events. GeneralLiability Insurance: to help cover claims your business caused propertydamage or bodily injury.
Cyber liability insurance helps cover costs related to: Data breaches Ransomware attacks Notification of affected parties Legal fees and fines Why it’s critical in California : California’s strict data protection laws, like the California Consumer Privacy Act (CCPA), mean IT businesses face higher liability if customer data is compromised.
As reported on Hunton’s Insurance Recovery Blog , the Fifth Circuit recently held that Blue Bell Creameries’ commercial generalliability (CGL) insurers do not have a duty to defend the ice cream company in a shareholder lawsuit, which arose from a Listeria outbreak.
Read now » Related Content Allocation of Latent Injury and Damage Claims State Law Survey Examine the method used across the 50 states and the District of Columbia for allocating damages for latent bodily injury and propertydamage claims, sometimes called long-tail or continuous injury or damage claims.
This includes damages that arise from: Fires Theft Vandalism Weather events We are also proud to offer coverages beyond propertydamage for buildings, temporary structures, and building materials. Our program also offers your clients generalliability insurance, which can help cover legal costs that can occur on work sites.
E&O typically covers claims related to professional services resulting in financial harm to a client, while Professional Liability covers a wider range of claims, such as bodily injury or propertydamage. The policy extends coverage for a specified period, typically one year, and can be renewed annually.
Property insurance can protect these assets from damage or loss due to fire, theft, or other covered perils. GeneralLiability Insurance Generalliability insurance is essential for any business, including tailors. Obtain quotes from at least three different insurers to compare coverage options and premiums.
Vandalism : Intentional damage to the job site by third parties, including things like broken glass or graffiti. Propertydamage : Damages to the building that is being constructed or renovated. Equipment : Covers damages to or theft of equipment used on the job site.
Familiarising yourself with the various types can help you craft the most effective insurance package: – GeneralLiability Insurance : Covers third-party bodily injury, propertydamage, and advertising injuries. How does each type of coverage protect your business?
It provides protection against a plethora of risks, including propertydamage, liability claims, theft, and even employee injuries. – Liability Insurance: Covers your business in case of lawsuits due to injuries or damages caused as a result of business operations.
Unpredictable weather events and the rise in natural catastrophes pose significant challenges for the property insurance industry. Insureds are facing substantial property losses, leading to increased financial burdens. Social inflation and rising claim costs are top concerns for liability insurers.
This survey covers state law on the issue of faulty workmanship as an occurrence for purposes of coverage determination under a commercial generalliability (CGL) policy. Generally, an insured's work product is not covered, but defective workmanship that causes propertydamage is covered.
Understand less common situations involving construction accidents or personal injuries that occur within the construction area. Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.
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