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...arge losses — by purchasing excess insurance or reinsurance. INSURANCE ...he firm’s internal management practices and organizational suitability....

...settlement. If these payments are excessive, they can seriously hamper agency ... financial assets of the agency from excessive valuation demands and/or attorn...

... dollar' costs benefiting owners (excess T&E, excess auto) = $_____ 6. Add: Interest expe...

...kly as possible to avoid accruing excessive interest charges. Start investing ...

...e disallowed by the amount of the excess claimed. Worse yet, an excise tax can...division. Any customer with sales in excess of 5% of gross sales. d. Main supp...

...luding CGL policies, umbrella and excess policies, and even workers compensati...e avoided (fraud, mistake, etc.). Employment law is rapidly developing, and t...

...nsurance means primary insurance, excess insurance, reinsurance, surplus lines...om an admitted insurance company, an excess lines company, a risk retention gr...

... a large hotel would probably experience many small Workers Compensation claims but relatively few, if any, large claims. A bank can also expect to have numerous low severity Comp claims. Alternative risk financing usually involves loss severity — the exposure to large losses — by purchasing excess insurance or reinsurance. INSURANCE LINES The other question asked most often is "What lines of insurance are best for alternative risk financing?" Casualty lines — Workers Compensation, General Liability (including Products), and Auto Liability — are the best candidates for alternative ... obligations as they become due. Self-insurance is distinguished from non-insurance in that self-insurance makes a formal accrual of liabilities. Workers Compensation, Auto, and General Liability are usually self-insured. Due to the states' responsibilities for protecting injured workers, Comp self-insurance is highly regulated. Employers who want to retain Workers Compensation exposures are required to demonstrate the financial ability to pay losses. This qualification process must be maintained, as states continually monitor an employer's status. State regulators require security deposits of qualified self-insureds to ensure that they can meet all loss ... of costs and losses, including insurance market pricing. Companies willing to commit the necessary resources will probably enjoy improved cash flow and cost savings. The extent of improvement and the degree of control over the risk management process will vary, depending on the firm's internal management practices and organizational suitability. Reproduced with permission from riskVue, a free monthly online magazine for risk and insurance professionals. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, ...

... settlement can be difficult when the agency has prospered and its value represents the largest portion of marital property. In most cases, a lump sum or schedule of payments from the agency owner to the spouse will be imposed by the divorce settlement. If these payments are excessive, they can seriously hamper agency expansion efforts or may aggravate existing differences between several owners. Sometimes it actually results in the agency being sold to an outsider because the situation between the disagreeing owners becomes unworkable. It therefore behooves the agency owner to show as low ... legal hassle with an employee or former employee has become a real concern for even smaller agents located in parts of the country where lawsuits were previously unheard of. A recent study by the ABA revealed that in the 20 years from 1969 to 1989, the volume of employment discrimination lawsuits increased by 2,200%, almost 10 times faster than all other types of federal civil lawsuits. The researchers found that while discrimination in hiring formerly was the most common complaint, now the greatest number of cases revolve around discrimination in firing. ... of information about policies, procedures, and rules as they exist on the date of publication. It is a good idea to review the manual at least every two years to see what needs to be updated and to ensure that the written policies and procedures match actual practice. Supervisors and middle managers must be sensitized to the rationale behind each of the policies and should feel free to suggest an interim review if the rules cannot be fairly and uniformly applied. And, if it becomes apparent that even one item in the manual is ...

...o an outsider (explained above). Excess Accumulated Earnings: Sale to insider... include covenants not to compete, employment contracts, and deferred compensa...