Magazine article Risk Management

Staying Current, Keeping Smart, Avoiding Hazards

Magazine article Risk Management

Staying Current, Keeping Smart, Avoiding Hazards

Article excerpt

Staying Current

From pawnshops to major business suppliers, insurance companies to makers of faulty tires, almost every business runs the risk of being caught by lack of knowledge concerning state unfair trade practices laws. For companies doing business in multiple states, keeping up with diverse and ever changing unfair trade practices laws is extremely difficult in their own state of business, much less tracking the constantly evolving face of insurance regulations on the national scale. To help companies avoid losses that can devastate their business and destroy the bottom line, CCH Incorporated has introduced the State Unfair Trade Practices Law Guide, delivering authoritative coverage across fifty states in a monthly updated, loose-leaf format. State Unfair Trade Practices Law includes the full text of all state laws, state-by-state summaries and full-text court decisions, as well as expert explanation, detailed reports on possible changes that are presently in court, and analysis of newly minted laws. For more information, call 847.267.2179 or e-mail allenn@cch.com.

Extending the Umbrella

Insurance Services Office, Inc. (ISO) new Commercial Liability Umbrella insurance program is available in forty-two jurisdictions and provides excess coverage above underlying limits, drop-down coverage when underlying limits have been exhausted in existing policies and certain other coverages that are much broader than those in the underlying policies. The ISO program includes complete policy forms, explained endorsements and a detailed rating procedure. For more information, call 212.898.6610 or e-mail ddasgupta@iso.com.

Intellectual Property Risk

The explosive growth of the Internet and the rapid deployment of new technology worldwide have expanded potential liabilities related to intellectual property. Highly trained and specialized people are needed to meet this ever increasing demand. In response to this call for coverage caused by this rapid surge, Marsh announces the formation of a catastrophe liability insurance facility that provides up to $250 million of coverage for intellectual property risk. In many instances, patent, copyright and trademark infringement and misappropriation of trade secrets may not be covered under standard liability insurance programs, leaving companies exposed to potential liabilities ranging from $10 million to $100 million. …

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