INSURICA Environmental News
Keeping you ahead of the risks and challenges unique to your industry.
Winter 2023
FEATURED ARTICLE
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.
FEATURED ARTICLE
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.
FEATURED ARTICLE
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.
Related Articles
Purchasing Environmental Insurance: Underwriter Submissions
Offering your agent and underwriter all the information they need to tell the story of why your company is best-in-class is essential.
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
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.