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... selling of products has changed little since then. There's some justification for this lack of innovation. The legal system, which will always have the last word on a policy's intent and performance, has specific interpretations from which insurers deviate at their peril. A knowledgeable in-house professional or risk-management consultant should be on hand to interpret the fine print. One type of risk that's often overlooked is the risk to a corporation's reputation. Whenever an intermediary is engaged to represent a company, it is essential that any material affecting the company's image or ... suppliers; key customers; key facilities, equipment, and people; computer dependence; valuable papers, designs, and intellectual property; quality control; loss prevention to real and personal property; transit exposures; foreign contract evaluation; internal and external crime audit; product liability; hiring and firing practices; safety committee review; employee and public safety; automobile and fleet safety; directors, officers and fiduciary responsibilities; product tampering; extortion; kidnap and ransom; credit risk, claims and self-insurance monitoring; claim funding alternatives; environmental ... the protection of your company and its assets, you need to know what these and other acronyms stand for. D&O , E&O , CGL, ACV, RCV, and so it goes! Each industry has its own specific jargon, and the insurance industry has contrived to make its own terminology as difficult to understand as any. Consumers navigating through the maze of policy wordings, products, and suppliers are often so daunted that they give up and rely on their suppliers to make decisions for them. Most suppliers ...

... . The perils readily identified through traditional insurance coverages are essential in comprehensive crisis exposure analysis of an operating entity. Insured perils may be utilized in identifying various exposures by grouping similar insurance coverages, as follows: Liability Exposures Automobile Aircraft Water craft Premises Products Completed operations Contractual Professional - errors and omissions Directors and Officers legal liability Property and All Risk Coverage Exposures Real property Personal property Time element exposures Business interruption Extra expense Cargo - Inland Marine and Ocean Marine Valuables on display and in transit Computer - software and hardware Off-site record storage Accounts receivable ... risk-bearing capacity of the organization. For example: fire at a production location that does not result in significant asset loss or business interruption. Other examples include an accident involving a company vehicle resulting in injuries and establishment of disability reserves or adverse legal judgement in a product liability case. Magnitude II A Magnitude II loss can be defined as one with a significant impact of life safety, revenue and existing assets, but without the major threat to the financial stability Of the organization. For example: a major fire resulting in significant damage ... significant task in crisis management plan strategy formulation is broadly to identify and measure the various potential crises and loss exposures. The crisis and loss exposure assessment must remain broad in nature and not become inhibited by the traditionally narrow considerations of only those perils addressed by standard commercial insurance policies. There are three primary categories to consider in the comprehensive crisis exposure analysis. The following are the categories identified for crisis assessment considerations: Business impact analysis Crisis loss exposure and vulnerability Insurance and risk funding adequacy To accomplish this comprehensive assessment task, the extent ...

...ingent product and environmental liability 2. Explain the basis for estimates ...lace Post-crisis image enhancement for stakeholders Protection for Officers and Directors from neglige...

... of exposure are rapidly expanding, and the high cost of everything , combined with increasing consumer awareness, will only aggravate the problems associated with running an agency. You can take steps that will lessen your exposure to E&O . Many are common-sense activities that any professional needs to do anyway. Here are 25 tips toward E&O-proofing your agency: 1. Never, never write a Commercial account without inspecting the risk. This applies to both new business and renewals. If the account is too small to inspect, you ... to have your most technically competent people use their time and experience in the best way. Another area that should be discussed with respect to renewals is restrictive endorsements. A case in point is the pollution exclusion, which has evolved from the 1960s versions of the General Liability policies, in three main phases over the years: No contamination or pollution exclusion Accidental contamination or pollution coverage only (no occurrence coverage, with accident generally defined as a sudden and unforeseen event causing damage) Total exclusion on all contamination and pollution Even though most ... stamped the policy, added cover notes, or otherwise highlighted the fact that coverage was becoming more limited or totally excluded, more and more agents will probably be brought into contamination and pollution claims for failing to notify clients properly about limitations and exclusions. There are a number of reasons for this: The stakes are so high for potential loss that the attorneys handling this type of claim are going to try to reach much deeper for a source of funds. Just look at the asbestos litigation activity. In the broad scope of CERCLA ...