Liquor Liability For Bankers

"We're having a little dinner party this evening with some of our employees.  If someone drinks and then has an accident are we covered?"This was the question a bank client asked me the other day.The short answer is, yes.Most bank general liability policies cover "incidental liquor liability" claims.  A party, a dinner, a chamber of commerce … [Read more...]

Are You Covered For The Anguish Of Mental Anguish?

The general liability policy insuring agreement states, "We will pay those sums that the insured becomes legally obligated to pay as damages because of 'bodily injury' or 'property damage' to which this insurance applies."Are lawsuits brought for mental anguish covered by general liability insurance? Sometimes yes. Sometimes no.The policy says … [Read more...]

Figure Adequate Liability Insurance Limits

How about a way to figure out how much liability insurance a business should have?I have seen many such formulas. I have never bought into any of them.Here are the "normal" liability insurance policies for most businesses:Auto Liability Insurance - Pays for bodily injury and property damage caused by a motor vehicle accident. Should include … [Read more...]

The Endorsement All Contractors Need

Is there a chance your business can damage property owned by someone else?Do you work at your customer's location? If you burned down a customer's building, would you expect your insurance to pay for the damage?If so, there is probably a hole in your insurance coverage.Think about a painter. He sends his team into the customer's office one night … [Read more...]

Pollution Liability Insurance

Basic liability insurance policies like the general liability and umbrella liability policies do not cover pollution.Want to test to see if your agent is any good? Ask her what insurance companies she will go to to get you a quote on pollution liability insurance.Here is the answer for most US businesses: Zurich, ACE, Chubb, Chartis, Zurich, XL, … [Read more...]

Personal Injury

Most business people are familiar with the bodily injury and property damage coverage within their general liability policy.There is another coverage section that is less understood. Personal injury coverage.Think of this as coverage for hurt feelings - libel, slander, false arrest, wrongful eviction, advertising injury, and violation of privacy. … [Read more...]

Per Location Aggregate Spreads the Coverage

Add a “Per Location Aggregate Limit” to Your General Liability PolicyYour general liability insurance provides coverage for bodily injury and property damage. The policy contains an aggregate limit of coverage – the most the policy will pay for all claims.If you have more than one location (two offices, two bank branches, a warehouse and a store, … [Read more...]

Violation of Privacy

Violations of privacy become a greater issue almost every day. Customer lists, private information... Look to your general liability insurance (GL) for some coverage under the personal and advertising injury section. Most GL policies will specifically include coverage for "oral or written publication, in any manner, of material that violates a … [Read more...]

General Liability and Mental Anguish

General liability policies that protect most American businesses are designed to provide coverage for bodily injury and property damage to a customer or visitor. Examples of bodily injury... A customer slips on your walkway. A product you sell causes a person to become ill. An employee causes a fire that burns down the hotel they are staying at. … [Read more...]

Instant Insurance Premium Savings!

Much of the premiums paid by a business are determined by payroll and sales. Specifically, If your sales go up, your general liability premium goes up. Same with payroll and workers compensation (and some liability policies).Call your agent and find out what sales and payroll numbers are being used to rate your policies. If you estimate lower … [Read more...]