Category Archives: Insurance Policy

Break The Bottlenecks With Business Insurance

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The Harvard Business Review recently published an article titled “Break Your Industry’s Bottlenecks”. The concept being that to create a successful business “you have to break the rules and overturn the received wisdom about how things work.” This could not be truer when it comes to the purchase of business insurance, which is a bottleneck […]

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Business Insurance & Managing Risk: You Don’t Know What You Don’t Know

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What I do know is that it is hard to admit that you don’t know what you don’t know. Recently I gave a presentation at the 2015 Business Law & Corporate Counsel Symposium. The presentation was about business insurance and managing risk for businesses, the real message I wanted to leave my audience was that […]

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8 Important Points When Presenting Your Loss & Claim

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In the previous post Proof of Loss: The proof is in the pudding, we shared the importance of knowing how the business insurance claims process works so you can get paid what you are due if you suffer a loss. These 8 points will help you navigate the claims process successfully. 1.  Familiarize yourself with lines 90 […]

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Proof of Loss: The proof is in the pudding as they say

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From an insurance perspective it is important to know how you can recover when your business suffers a loss. Questions to consider when filing a business insurance claim: 1. Will your insurance coverage be adequate? 2. How do you go about getting a recovery? 3. What are your responsibilities in the process? Knowing how the […]

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End of Year Risk Tip: Review Contracts Up For Renewal

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As we move into a new year…a number of business related contracts come up for renewal. With that in mind, we suggest that you spend the time to review, in detail, your contracts such as leases, purchase agreements and services contracts. Comment: Many times contracts are signed without a proper review and understanding of the […]

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Risk Tip: Ensure proper notification is stated clearly in your policies

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The “notice” provision in all insurance policies should be modified to mean notice to a “specific individual”. Comment: Here is another one of those “missed” clauses. How many times have you heard a client say “I never received the notice”? Just recently a prospect was explaining to me that they received a letter from a […]

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Do you really know your D&O coverage?

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Whether your organization is a publicly held company, private company or nonprofit it is vitally important to have a thorough understanding of the corporate charter and its indemnification of corporate officers and directors and how the directors and officers’ (D&O) insurance policy protect their interests and that of the entity. Not all policies are the […]

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Risk Tip: Review insurance policies for consistency

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Insurance policy provisions should be uniform as to named insured, notice and cancellation clauses, territory, etc. Comment: All too often when reviewing policies we find that named insured’s do not match up from one policy to the next, notice and cancellation clauses are not uniform and on and on. We have reviewed thousands of policies […]

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The Life of an Insurance Policy

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A few weeks ago I participated in a panel discussion regarding insurance issues. The first part of the discussion was to center around “the life of an insurance policy” – I thought to myself what exactly is the life of an insurance policy and trying to have a little fun with it, I came up […]

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