Posted In: Insurance Recovery
Coverage Counselor: Russia's Invasion of Ukraine: Its Impact on the Insurance Industry
on May 5, 2022
The impact of Russia's invasion of Ukraine is being seen and felt across the world. The invasion has affected almost every industry and sector and continues to strain an already burdened supply chain....
Posted In: Insurance Recovery and Real Estate
Pre-Suit Notice of Construction Defect Claims Constitutes a Suit
on March 1, 2018
Insurers and policyholders continue to debate the age-old question vital to the determination of insurance coverage – what triggers the insurer's duty to defend? States are complicating this question by enacting various statutes that provide individuals avenues to remedy disputes and claims outside of, or prior to filing a traditional suit or civil procedure. These statutes have created confusion and disagreements between the insurers and policyholders. Courts are now trying to help insurers' clarify their obligations under their policies with respect to these statutes....
Posted In: Insurance Recovery
How to Protect Your Food
on May 22, 2017
A commercial general liability (CGL) policy is important and protects companies from a number of unexpected events; however, nowadays the CGL policy often comes up short when it comes to industry specific issues. The costs of food recalls and damages arising from the contamination of food products often require specific insurance. Fortunately, insurance companies have responded to the demands of the market and now offer several industry-specific policies, including consumable product policies, component part policies, consumer goods policies and packager protection policies, among others....
Food Recalls: Are You Covered?
on July 14, 2016
It seems like every month a new food is being recalled. Ever since the advent of the Food Safety Modernization Act (FSMA) in 2011, there has been an increase in food recalls. However, this increase is not an indication that manufacturing and packaging facilities have become lax or negligent but the result of higher standards, increased inspections and an attempt to proactively prevent contamination instead of simply responding to outbreaks. In addition to these changes, the FSMA now allows the government to issue a mandatory recall when there is evidence or concern that a food item could be contaminated instead of relying on the companies to issue voluntary recalls. As a result, recalls are now issued when a product could potentially be contaminated. To date, companies have always initiated voluntary recalls. Food recalls can be very expensive and it is important to know if your damages are covered by your commercial general liability (CGL) policy and, if so, to what extent?...
Is Your Broker More Than Your Agent?
on March 22, 2016
Policyholders often rely on insurance brokers when purchasing insurance policies. It is well established in Ohio that policyholders, regardless of their use of brokers, have a duty to examine their insurance policies themselves and cannot rely on the broker's representations. In some instances, however, a broker and policyholder relationship may change, which could affect the broker's duty to the policyholder....
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