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The Wheels of Business Do Not Turn Without Insurance

By James J. Venezia

Download PDF Introduction Insurance is frequently the last item that a new business considers and the first item that they need to have evidence of. It’s often necessary to close a client contract or get a product into the market. Most entrepreneurial, innovative and disruptive businesses, whether product or service driven, leave this important discussion point out of the initial business conversation. With the exception of a budget entry (inaccurate at best), rarely is commercial insurance part of the deeper conversation about business risk, business development and the concept to exit strategy. It is much more exciting to nail down…

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New Jersey Surplus Lines Insurance Taxes & Fees

By Pete J. Murdough

Download PDF   New Jersey Surplus Lines Insurance Taxes & Fees   Introduction As the commercial insurance marketplace continues to evolve, one trend that has become more common, particularly in the surplus lines marketplace, is the proliferation of fees being imposed by wholesale and retail agents and brokers. Considering this, we decided to take a closer look at these fees, what they represent, and how the State of New Jersey regulates them. While each state has its own regulations for how it enforces its own insurance policy taxes or fees, state regulations regarding wholesale and retail agent fees also vary.…

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Additional Insured – A Look at ISO CG2010

By Arthur Proulx

Download PDF   Additional Insured – A Look at ISO CG 20 10   Introduction The Insurance Services Office (ISO) provides standard insurance policy language for the insurance industry’s use, including additional insured endorsements.  We are going to focus today on the industry standard additional insured endorsement ISO CG 20 10. Specifically, we will be looking at the ISO CG 20 10 07 04 edition and contrasting that to the ISO CG 20 10 11 85 edition, since there are significant differences between the two, with the 11 85 edition being the broader and more desirable version. Background An additional…

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Third-Party-Over Action CGL Exclusions

By Arthur Proulx

  Introduction – Download PDF   Third-Party-Over Action CGL Exclusions   Introduction The International Risk Management Institute (IRMI) defines third-party-over action as: “A type of action in which an injured employee, after collecting workers’ compensation benefits from the employer, sues a third party for contributing to the employee’s injury. Then, because of some type of contractual relationship between the third party and the employer, the liability is passed back to the employer by prior agreement. Depending on the nature and allegations of the action, coverage may be afforded under the contractual liability section of the employer’s commercial liability policy or the employers’…

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Tenant Discrimination Coverage

By Arthur Proulx

Download PDF   Tenant Discrimination Coverage   Introduction Property Owners and their managers have an exposure to claims where a tenant, former tenant or applicant for tenancy alleges discrimination on the basis of race, age, sex, nationality or religion.  This exposure is heightened for residential owners and managers and can extend to individuals who own and lease rental properties.  This “tenant discrimination” exposure is usually not covered in commercial general liability or employment practices liability insurance policies. In this article, we will look at the policy language in an ISO commercial general liability coverage form and typical employment practices liability…

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Contractual Liability Insurance and Your Vendors

By Arthur Proulx

  Introduction – Download PDF   Contractual Liability Insurance and Your Vendors   Contractual liability insurance coverage is insurance which covers the liability assumed by an insured (one party) in a contract with another party to pay for damages to a third party. Consider this claim scenario: an electrician signs a contract with a building owner to perform maintenance work in the building lobby and that contract includes a hold harmless clause.  An unrelated third party is injured while walking in the lobby due to the electrician’s negligence and the injured third party sues the building owner. If the electrician maintained a…

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