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... covers most recognized perils. However, insurance is meant to protect against catastrophes however they may arise, and old-timers in the business can recall any number of strange events that caused large losses. For instance, are you protected against damage from flowing molasses after a huge storage tank ruptures? This type of loss has occurred, causing tremendous damage. The point is simple: Even with a vivid imagination, you can't conceive of all the things that can go wrong. All-Risks protection is therefore essential to proper insurance coverage. With respect ... property, this is usually written in a Difference-in-Conditions (DIC) policy. The liability equivalent of the DIC is the Umbrella-probably the most important single policy of all. It supplies the needed high limits and broad coverage for the blockbuster liability claim. Be sure it's the broadest possible. Pay a little more if necessary, but don't settle for an inferior Umbrella. Insurance Companies and Their Environment The insurance world is fragmented into many compartments, some of interest and some of no concern to the risk manager. One division that should be ... of an income-producing activity: utility, toll road or bridge, auditorium, and so forth Loss of taxes because of destruction of a principal taxpayer's property Extra expenses from administrative dislocations following any catastrophe Extra expenses from hand processing data after loss of data-processing facilities Unusual types of liability, such as liquor liability, that are not perceived as important until an unforeseen situation Loss Prevention Safety programs affect insurance costs indirectly by reducing losses (which in turn indirectly affect premiums), but few safety measures are recognized in liability rating. To find out ...

...rom flowing molasses after a huge storage tank ruptures? This type of loss has occurr... broad coverage for the blockbuster liability claim. Be sure it's the broadest...

...lity Requirements For Underground Storage Tanks
DOLLARS AND SENSE: FINANC...coverage and/or for each underground storage tank or location], exdusive of legal def...

...acturing curtailed due to lack of storage space in the various manufacturing f...re and hardware Off-site record storage Accounts receivable Retro...