Tag: Business Insurance

Electric Vehicles (EVs) pose hazards and safety challenges for the auto service industry. When considering the risks associated with servicing EVs, we should look at the standards and hazards for employee safety, fire protection, garage liability, and overall property loss.   EVs are likely here to stay. Under former President Biden, the federal government set…

Artificial intelligence is everywhere — in software, underwriting models, maintenance diagnostics, and even recruiting. But for transportation companies, the question isn’t whether or not to use AI, but rather how to use it in a way that reduces risk, enhances safety outcomes, and boosts operational efficiency.   Right now, too many fleets are chasing shiny…

Asbestos litigation affects many employers each year and can cost a company thousands of dollars in legal fees. When asbestos claims, complaints, and suits are filed, it is common for the alleged exposure period to date back many years or decades and name multiple employers. Even when a company has never worked with or used…

While the liability exposure for company fleets and drivers due to vehicle accidents is widely understood and mitigated, the exposure concerning employees who drive their personal vehicles for business purposes is often overlooked. When an employee has an at-fault accident while driving their own car on company business, their employer can be liable for their…

Accounts receivable are critical to a company’s balance sheet, directly affecting cash flow and profitability. Yet while most companies insure against property loss, liability, and other unpredictable, high-exposure events, their most valuable asset is open to loss. There is a safer way to do business: trade credit insurance. Trade credit insurance protects businesses from the…

Severe convective storms are among the most frequent and severe natural disasters in the U.S. Warm, wet air rising from the earth causes them to manifest in various ways, depending on atmospheric circumstances, ranging from soaking thunderstorms with lightning to tornadoes, hail, and damaging straight-line winds. As urban areas grow and more people move into…

When placing insurance for companies with multiple subsidiaries and entities, it is important to understand what qualifies as an additional insured under the commercial policy and what does not. Failure to understand and adequately name subsidiaries and entities on policies could lead to denied claims and potential E&Os for McGriff. The Issue An insured client’s…

When water from any source suddenly rises (or backs up) and causes property damage, you might understandably assume a property policy would automatically cover the resulting damage. In reality though, water damage is covered by property insurance policies in only five situations covered below. (A sixth cause of damage, water intrusion, is never covered by…