“Excluded Parties” in Wrap-Up Insurance Programs

Invitations with red bow

Ever wonder why certain parties are excluded from wrap-up programs? Or, if
you’re a contractor, why you are enrolled in certain controlled insurance
programs (CIPs) but are excluded from others? This article explores the types
of parties often deemed “not eligible” for wrap-up coverage and the
reasons the sponsor considers when making those determinations.

Create an Inclusive Culture for Women

Woman leading a business meeting

As shown in Women in the Workplace 2019 by McKinsey and Company in
conjunction with Lean In, women are the slight majority in the insurance
industry at entry-level, but the percentage steadily declines in the more
senior positions. The engineering and construction industries are similar.

Why Does Emotional Intelligence Matter at Work?

Young woman holding a we are hiring sign

Emotional intelligence, also known as the emotional intelligence quotient
(EIQ), is defined as recognizing, understanding, and managing one’s
emotions and the influence those emotions have on others. Why should we care if
our employees understand their emotions on the job?

Failure To Give Notice Defeats Coverage

DC Court of Appeals

A person holding a judgment against a bankrupt person can sue the bankrupt
person’s insurer to recover a judgment if the policy issued to the bankrupt
person provided coverage for the tort sued upon with the permission of the
bankruptcy court. However, the person holding the judgment must first prove
that the facts that resulted in the judgment were covered by the policy.

Personal Guarantees in Construction

Judge's gavel with a law scale and a yellow construction hard hat

Given the wide use of personal guarantees in the construction industry,
let’s take a look at how they are interpreted and handled by the courts.
Let’s also discuss your risks if you signed a personal guarantee and are a
“guarantor,” guaranteeing payment of a company’s debt. Let’s
also take a look at what your remedies are if you are holding a personal
guarantee signed by someone else for a debt owed to you.

Navigating Perilous Times in Construction

Sail boat near the harbor

Running a construction business has a lot in common with sailing, where some
say there are just three rules.

  • Keep the boat in the water
  • Keep the water out of the boat
  • Stay in the boat

The Mobile Agricultural Machinery and Equipment Coverage Form (MAMECF)

Tractor pulling a cultivator on a farm field

The world of farm property coverages is full of various forms, a number of
which are required to be used with one another. For example, the FP 00 13 Farm
Property—Farm Personal Property Coverage Form cannot be issued alone. It needs
to coordinate coverage with other farm property forms such as the FP 00 90 Farm
Property—Other Farm Provisions Form—Additional Coverages, Conditions,
Definitions and the FP 10 60 Causes of Loss—Farm Property form.

The Management of Construction Safety

Rebar Construction Crew Mideast

To effectively manage the business, a construction firm must manage the
work-in-place costs effectively, efficiently, and per the contract document
requirements. This means their processes, practices, and procedures have to be
integrated and efficient, and their management innovative, supportive, and

Risk Management in a COVID-19 World

Orange and white construction sign reads Coronavirus

It seems just yesterday that I was preparing for Women in Construction Week
(WIC) by writing an article about how women could save the labor shortage in
the construction industry, “Supporting
Women in Construction
.” What a difference a pandemic makes. In 3 short
weeks, priorities have shifted from bringing much-needed diversity to the
construction industry to how our industry and our country can survive the
pandemic crisis called COVID-19.

The Real Impact of COVID-19 on Workers Compensation

Five business people sitting in an office meeting wearing medical masks

There is much discussion right now on the impact that COVID-19 (coronavirus)
will have on workers compensation. Most of this discussion has focused on the
potential for claims activity arising from the virus. The determination of
whether a communicable disease is “work-related” is a case-by-case

A Follow Up: Dressing Professionally

Little boy wearing a big man's business suit

Last year I wrote a commentary, “To
Dress or Not—Is Professional Attire Outdated?
,” on whether or not
students should be expected to dress professionally for interviews and career
fairs. I asked for feedback and encouraged responses. I’m pleased to say I
got a lot of thoughtful responses from a wide range of readers. Executives,
claims adjusters, independent agents, corporate trainers, and many others
chimed in.

COVID-19—When Civil Authorities Take over, Are You Covered?

Three people standing on the sidewalk of a busy street wearing medical masks

The novel coronavirus (COVID-19) is a respiratory disease that can result in
serious illness or death. It is caused by a new strain of coronavirus not
previously identified in humans and easily spreads from person to person. There
is currently no approved vaccine or antiviral treatment for this disease.

What Constitutes a “Prevailing Party” in a Maritime Contract Dispute?

IRMI Claims Caselaw Legal Insurance

Recently, the US Fifth Circuit Court of Appeals decided an issue of first
impression as to what constitutes a “prevailing party” in
the context of a maritime contract dispute. The issue had not been decided by
the US Supreme Court or the Fifth Circuit. The opinion does not mention whether
other circuit courts had considered the issue.

Claims Management and Effective Risk Management

Business People on a Tangle of Winding Roads

The cost of claims has been at the heart of total cost of risk (TCOR) as a
separate function since the inception of risk management and even before. The
sheer magnitude of losses, insurable or not, defines so much of what risk
managers focus on, and it tends to be what they report on most often as well.

Coronavirus (COVID-19) Business Income Losses—Are They Covered?

COVID-19 blood vial with positive result

The coronavirus pandemic and the resulting efforts to minimize the spread of
COVID-19 are wreaking havoc on all of us—individuals and businesses alike.
Businesses that have purchased coverage for business income loss as part of
their commercial property insurance may well be hoping that they will be able
to recover under their policies for income loss due to the coronavirus.

Coronavirus (COVID-19)—Is It Compensable?

Doctor holding small globe wearing a medical mask

The World Health Organization has now declared the recent coronavirus outbreak
to be a pandemic. Whether infections from the coronavirus will be compensable
under workers compensation depends on the jurisdiction and the facts
surrounding the claim.

Energy Insurance Market Conditions: 2020

Oil Field in Desert

This article provides an update regarding the ongoing challenges facing energy
insurers under current market conditions, including the impact of the
coronavirus (prior article dated
August 2018
). This update outlines the effects of oil and gas prices on
demand for insurance from companies within the industry and evaluates the
anticipated impact of current forecasts.

Cyber Threats and Accounting for Operational Risk

Businesswoman working on a virtual screen with graph key multiple locks and cyber crime

Cyber threats bring about a host of complicated and interlaced risks for which
every organization should account. From the installation of malware via a
complicated spear phishing incident to the insider threat to confidential
client data, threats can be multifaceted and difficult to address.