INSURICA Risk Insights
Keeping you ahead of the risks and challenges unique to your industry.
Winter 2023
IN THIS ISSUE
Action Over Litigation
What is Replacement Cost and How is it Derived?
ESG Trends to Watch
“Often the contractual liability section within the General Liability (GL) policy form leaves the employer exposed to suits against their GL policy via the Employers Liability (EL) exclusion.
Ed Holomon, Jr. | Action Over Litigation
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 or reconstruction cost is a type of insurance that covers the cost to replace or repair a building with materials of the same or comparable quality. For the purposes of coverage—and unlike market value—replacement cost policies do not include the value of any land and is determined based on the amount needed to hire contractors and purchase materials to repair a building or construct a replacement.
FEATURED ARTICLE
ESG Trends to Watch
Environmental, social and governance (ESG) factors are often considered by socially conscious investors when evaluating companies on sustainability and social conscientiousness. While ESG metrics can be hard to measure, the risks surrounding them are increasing. As consumer, investor and shareholder action is increasingly focused on ESG, companies and their directors and officers (D&Os) must proactively address climate change, working conditions, cybersecurity and diversity. Failure to do so poses a significant D&O risk for companies and their insurers.
Related Articles
The Hazards of Biofuels
As a fast-growing part of the energy sector, the biofuel industry has become an attractive place to work and invest. To protect your company in the biofuel industry, it is essential to recognize potential workplace hazards of biofuels and their production processes, and take steps to protect workers from harm. In addition to common workplace hazards such as walking and working surface hazards and electrical hazards, biofuels present three major types of hazards:
Forecasters Up Their Hurricane Outlook After Hyperactive Beryl
Researchers at Colorado State University have upped their forecast for this year’s Atlantic hurricane season, now projecting at least 25 named storms, with 12 of them expected to reach hurricane status.
Baltimore Bridge Collapse Could Lead to Historic Marine Losses
On Tuesday, March 26, 2024, a large container ship traveling through the Port of Baltimore in Maryland collided with a concrete column supporting the Francis Scott Key Bridge, ultimately causing the nearly 50-year-old structure to completely collapse and shutting down one of the largest and busiest harbors in the United States.