Recently, I came upon an interesting (albeit disturbing) example of how generic insurance obligation language in a contract left the Landlord without Additional Insured protection from their contractor.
In the case of Seven Up Realty vs AJ Greenwich Contracting, the contract that Seven Up had with Greenwich did not REQUIRE Greenwich
Topics: Claims Management, Claims Management Process, Contracts, Coverage Review, Insurance, Risk Management Blog, COI Compliance, risk transfer
As the effects of COVID-19 continue to impact businesses, it will, surely be an uphill battle to have insurers confirm coverage under most standard insurance policies. Ultimately, a flurry of litigation and government intervention will determine how insurers deal with the losses that their insureds are suffering and will continue to experience stemming from this disaster.
Over the next few weeks and months (maybe years), as these claims unfold, insurers will be faced with the task of interpreting policies and informing their insureds how coverage will or won’t respond. In the meantime, there are some things a business can do to preserve their position with potential COVID-19 claims.
Topics: Claims Management, Claims Management Process, Strategic Risk Management, pandemics, COVID-19, risk management consultant
I came across an interesting case that illustrates how critical it is to properly notice a “downstream party” of a claim (or potential claim) and require proof that notice was filed with their insurer.
Topics: Claim Reporting, Claims Handling, Claims Management, Claims Management Process, Risk Management Assessment, Total Cost of Risk, Total Cost of Risk (TCoR), what is total cost of risk, total cost of risk definition
Even when no injury occurs, after any workplace incident or accident, a written incident report allows a timely investigation. Some incidents are minor and need only slight fixes to prevent their recurrence. However, in more serious situations where a serious injury or property damage could have or did occur, a subsequent failure analysis allows management to determine how to best prevent similar occurrences.
Topics: Claims Handling, Claims Management, Claims Management Process, Construction Accidents, HCP, Human Capital, Risk Management Blog, The ALS Group, Total Cost of Risk, Worker's Compensation
One of the most commonly found clauses in any construction contract is the requirement of one party to name another party as an additional insured. It is found in The American Institute of Architects (AIA) documents, the Consensus DOCS, and was inserted in almost all manuscript agreements.
Topics: Claim Reporting, Claims Handling, Claims Management, Claims Management Process, Construction, Construction Accidents, Healthcare, Human Capital, Real Estate, Risk Management Blog, Strategic Risk Management, Total Cost of Risk, Total Cost of Risk (TCoR), Worker's Compensation
Certain indicators early in the life of a workers’ injury are red flags — a strong possibility your employee’s healing will be delayed or that the claim may be fraudulent. If you notice any of the following signs, discuss the claim with your adjuster as soon as possible. Once the management of a workers’ compensation injury goes astray, it is usually difficult to bring it back to center.
Topics: Claims Handling, Claims Management, Claims Management Process, HCP, Human Capital, Human Capital Practice, Risk Management Blog, TCoR, Total Cost of Risk (TCoR), Worker's Compensation
When business owners shop commercial insurance coverage, the solvency rating of the proposed insurance company is one critical factor they consider. However, savvy commercial insurance buyers should consider another vital factor — how will the proposed insurer handle your claims?
Topics: Claim Reporting, Claims Handling, Claims Management, Claims Management Process, Strategic Risk Management, Worker's Compensation
I read an interesting article in this month’s Claims Management magazine about claim letter templates. The article was fairly lengthy and discussed how to improve and organize templates to add to claims efficiency (for the carrier). Makes sense, right? Well, maybe...
Topics: Claims Handling, Claims Management, Claims Management Process
Doing business abroad is difficult enough but recently the renewed interest (and enforcement) of the Foreign Corrupt Practices Act (FCPA) has added a new dimension of challenges. The applications of the FCPA or its British "cousin" the UK Bribery Act are beyond the scope of this posting but carries with it substantial fines and broad enforcement possibilities.
Topics: Claims Management, Claims Management Process, Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Private Equity | Venture Capital, Risk Management Assessment, Risk Management Blog, Strategic Risk Management, The ALS Group
Everyone has heard of the Tough Mudder event, and if you haven't, check out their website here. This Saturday I will be participating in this torturous event. Why am I doing this? I’m not entirely sure, but I know it is probably bad personal risk management to do so.
Topics: Claims Handling, Claims Management, Claims Management Process, Risk Management Blog, Strategic Risk Management, The ALS Group