At one time, a $5 million workers’ comp loss was considered large, and a $10 million claim was a rare occurrence. Today, a $10 million WC claim has become more common, and individual claims as large as $40 million are being reported, according to the National Council on Compensation Insurance (NCCI).
When it comes to labor laws and employment practices, the past few years have been a challenge for employers large and small. What businesses across all industry sectors must realize is that they cannot go without the protection needed to respond to employment practices claims such as allegations of sexual harassment, discrimination, and retaliation — …
Cyber insurance policy limitations can create potential coverage gaps and create problems for today’s insureds and agents. A cyber risk loss – the risk of disruption, damage, or financial loss, including loss of reputation to a business through its information technology (IT) systems – is one of the most significant risks facing businesses today.
Avoiding Denials of Coverage for Late Claim Notices: A key consideration under claims- made liability policies. It’s a nightmare scenario for an agent, broker, and insured.