Tag Archives: International Risk Management Institute

Small Business Manufacturers Should Purchase Equipment Breakdown Coverage

Chip Merlin, Ashley Harris and I settled an Equipment Breakdown Coverage (aka Mechanical Breakdown Coverage) lawsuit in New Jersey yesterday. Chip Merlin took this picture of Ashley and me after the settlement. While the settlement is confidential, there are a number of lessons to be learned and reasons why this coverage is so important to … Continue Reading

How To Consider the Market Conditions After A Loss? – Understanding Business Interruption claims

As noted before in To Consider the Economy, or Not To? ‘That is the Question’ — Understanding Business Interruption Claims, Part 9 and What’s Good for the Goose is Good for the Gander – Post-Loss Market Conduct Ignored in Louisiana – Understanding Business Interruption Claims, Part 36, there are two diverging views on whether post-loss … Continue Reading

Insurance Agents, Brokers and Risk Managers Have to Spend Enough Time Studying the Specifics of Coverage to Prevent Uninsured Losses

Gaps in coverage and uninsured losses occur for a number of reasons. Most policyholders are not in the insurance business. They have a very limited understanding of the product they are buying and how risks they face may be insured. In Property Insurance Resolutions for 2010, which follows Concerns and Resolutions for Property Risk Management in … Continue Reading

The Period of Restoration Does Not End When the Business Is Sold or Operations Cease

Michelle Claverol has been writing a weekly post every Sunday regarding business interruption and extra expense issues. I can tell that weekend posts are not read as often as those published during the workweek. I encourage those involved with commercial claims to go back and review her discussions of this important commercial coverage. She went home … Continue Reading

Pets and Insurance

The Westminster Dog Show was this week. I started thinking about pets and policyholder insurance. There is actually coverage for pets, which many people may wish to consider purchasing.… Continue Reading