Author Archive

Reminder to Insurance Agents: Florida Workers’ Compensation

North Carolina insurance agents may have contracting clients who are planning to go to Florida for cleanup and restoration work.  There are several requirements for out-of-state contractors working in Florida of which you should be aware. Constructing industry employers with one or more full-time or part-time employees must provide coverage for all employees. Construction industry

How Much Insurance is Enough? Insurance Aspects of the Outer Banks Power Outage

On Thursday, July 27, 2017, a construction company working on the new Bonner Bridge over Oregon Inlet drove a metal casing into the ground and cut the three power cables servicing Hatteras Island and Ocracoke Island.  While the loss of power during the height of tourist season is being mitigated by standby generators, upwards of

It’s No Longer JUST the COI that Gets You in Trouble – There’s a New Monster in Town

Without using hyperbole, thousands of certificates of insurance (COIs) are issued every day, and again without hyperbole, most of them are issued improperly. In fact, your agency may have issued an improper certificate as recently as this morning. What is it about certificates of insurance that can get an agency in trouble? If there were

Concurrent Causation Revisited

A recent ruling by the Florida Supreme Courts (FSC) is creating a stir in Florida insurance markets and may have national repercussions.  In December of 2016 the FSC handed down its review of a decision by the Second District Court of Appeals (DCA) in American Home Assurance Co. v. Sebo (141 So. 3d 195 (Fla.

A New Peril in Cyberspace

Have you ever heard of “business email compromise” or “CEO fraud”?  Well read carefully because this is becoming a claim reported with increasing frequency. A CFO or other financial officer in a company receives an email from the CEO indicating that the CFO will receive a call from a specified person giving him instruction to

Two New Crime Insurance Endorsements of Note

Internet crime is not just about data breach losses. While data breach losses are significant and can result in considerable financial damage to businesses and individuals, the internet can be used to commit old fashioned crimes such as the theft of money. Two new ISO Crime Insurance endorsements became available in November of 2015 of

Renewed Emphasis on Crime and Data Breach Liability Coverage

For many businesses, October 1, 2015 changed their risk profile, and they may not even know it.  Several years ago the major credit card companies, MasterCard, Visa, Discover and American Express, created a deadline, October 1, 2015, for the credit card business to convert to EMVs. What is an EMV one might ask?  EMV is

Some Workers’ Compensation Relief – HB765 Signed Into Law

An omnibus regulatory reform bill (HB 765) was signed into law by Governor McCrory on Oct. 22, 2015 and is now effective.  It contains a provision which addresses a problem with workers’ compensation that has emerged over the last couple of years. The existing provision of the Workers’ Compensation Act of North Carolina (the Act)

Further Erosion in the Host Liquor Liability Coverage

The Commercial General Liability (CGL) policy provides an exclusion for commercial operations involving various aspects of the distribution of alcoholic beverages.  The exclusion is muted to some degree by a caveat restricting the exclusion to named insureds that are “in the business of” distributing alcoholic beverages (adult beverages).  This caveat to the exclusion is often

Some Workers’ Compensation Relief: HB765

An omnibus regulatory reform bill (HB 765) has been ratified and sent to the Governor for signature.  The bill becomes effective upon becoming law.  It contains a provision which addresses a problem with workers’ compensation that has emerged over the last couple of years.  The existing provision of the Workers’ Compensation Act of North Carolina