Technical Update Archive

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.

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

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

Does Every Business Owner Need to Be an Attorney? Who or What is an “Employee?”

Historically, most business owners understood that someone working for them was an “employee.” Further, “independent contractors” were infrequently used by the average business. However, times have changed. Administrative, benefit and regulatory costs related to employees have increased, leading business owners to search for ways to moderate these costs. Using workers who are not called “employees”

Ride-Sharing Law Headed for the Governor’s Signature

An Act To Regulate Transportation Network Companies has passed the Legislature and awaits the Governor’s signature.  Transportation network companies (TNCs) such as Uber, Sidecar or Lyft are a rapidly growing component of the public transportation business.  There have been a number of issues with TNCs that have been up in the air and now some

“When a Who is Actually A What”

This is the title of a recent article in an IRMI Update from the International Risk Management Institute, Inc. by Timothy P. O’Brien.  This article deals with the insurance issues arising from the ownership of a residence by an entity, such as a trust or LLC, rather than a person (or persons.)  Using entities to

Agents’ Update on TNC (“Uber”) Insurance Issues

TNC stands for “Transportation Network Company,” aka Uber, Lyft, etc.  Agents who are struggling to help their clients understand the TNC type of auto insurance exposures need to have a clear grasp of the issues.  One concept that is beginning to firm up is the three different periods involved with operating under a TNC contract: