INSURICA Environmental News

Keeping you ahead of the risks and challenges unique to your industry.

Winter 2023

Judge's hammer and helmet Law and Justice about labor law concept Construction law.

Action Over Litigation

According to the International Risk Management Institute (IRMI), Action Over is a legal action involving an injured employee, when after collecting workers compensation benefits from the employer, decides (most often at the guiding hand of counsel) to pursue a third party for allegedly contributing to the employee’s injury.

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American Dollars in Focus. Benjamin Franklin One Hundred Dollars Banknotes. Dollar Trading.

What is Replacement Cost and How is it Derived?

Replacement cost is TODAY’S VALUE – Depreciation (based on wear, tear deterioration and age) which equals the Actual Cash Value, aka Market Value (what is the property worth today). The Replacement Cost value is derived from the “local” labor market along with the materials within the market. Let’s not forget that policyholders usually want their property insured at what they can sell it for. This is called Actual Cash Value.

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A fleet of vehicles travelling down a highway on a mountainside.

Keeping U in Mind: Managing Your Fleet Risk in 2023

With rising insurance premiums, successfully managing fleet risk should be a top priority as we enter a new year. The Occupational Safety and Health Administration (OSHA) stated that most road related fatalities occur on highways where there are seat belt requirements and traffic laws, between the hours of 7 a.m. and 4 p.m.

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Related Articles

Managing Construction Contract Risks

January 24th, 2022|Comments Off on Managing Construction Contract Risks

Meeting a project’s green building standards presents additional risks as compared to traditional ones. The time to learn about them is before you bid on a project.

Contractors Pollution Liability Insurance

November 5th, 2021|Comments Off on Contractors Pollution Liability Insurance

While many contractors assume that their commercial general liability (CGL) policy would cover environmental claims, the unfortunate reality is that most CGLs have pollution exclusions that leave contractors uninsured in the case of a pollution incident.