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...]

What’s Claims Made Liability Insurance

NY State requires the following disclosure on claims made insurance policies - Not a bad description of the issues: In consideration of the premium charged: 1  This is a "claims-made" policy which means, generally, that coverage applies under this policy for only those claims first made against the Insured during the policy period. 2  This … [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...]

H1N1 Flu and Insurance

The staff at the National Underwriter just put out a paper that outlines insurance issues relative to the current concern the flu.I am not jumping up and down about this whole thing. More than 30,000 Americans die each year from the seasonal flu. That fact is getting lost in the news reports of cases in the hundreds.Here is the link for those who … [Read more...]