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Straight From The Source Blog by Higginbotham Insurance


Speculative risk insurance

April 27 , 2021

Speculative risk

Almost anything of value can be insured against the risk of loss. After starting its underwriting business with ocean voyages, Lloyds of London covered the first automobile, the first airplane and the first satellite. Lloyds wrote a policy on the “million-dollar legs” of actress Betty Grable, and in more recent times, it covered the even-more-valuable legs of soccer star David Beckham.

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Tags: Risk Management


Business continuity and risk management

April 22 , 2021

Business continuity

It’s easy to plan for good times. When everything goes as it should, you can focus on growing your business and meeting your corporate objectives. But what happens when things don’t go as planned? Maintaining business continuity through disruptions takes careful planning.

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Tags: Risk Management, Business Insurance


The importance of workplace safety

February 19 , 2021

Workplace safety

Workplace safety is important to the health and welfare of employees and the overall health and productivity of a company. According to the Bureau of Labor Statistics (BLS), private industry employers reported 2.8 million nonfatal workplace injuries and illnesses in 2019. Of those, 882,200 caused a private industry worker to miss at least one day of work.

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Tags: Risk Management


Understanding the many aspects of operational risk

February 17 , 2021

Operational risk

There’s no reward without risk. Operational risk exists in every business. However, the nature of operational risk may vary depending on the specifics of the company.

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Tags: Risk Management


Cyber issues in contracts: who is liable and indemnification for acts of vendors?

December 17 , 2020

cyber attack

You’re only as strong as your weakest link. Even if you maintain good cyber security practices, a less diligent vendor could open the door to an attack on your data. When selecting vendors and writing contracts, it’s important to address cyber issues, liability and indemnification.

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Tags: Risk Management


How adverse losses affect commercial auto insurance rates

December 03 , 2020

Commercial fleet

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Tags: Risk Management


7 ways to take control of your experience modifiers and your workers' compensation premiums

October 14 , 2020

experience mod blog

For employers, it can be one of the least transparent and least understood aspects of workers’ compensation. And yet, it’s one of the most important factors in determining your premiums.

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Tags: Risk Management


#1 reason you should never report claims late: coverage could be negated

August 19 , 2020

insurance claim form

People put things off for a lot of reasons. You might be busy. Maybe it seems unimportant. It could be just downright unpleasant. We get it. But when it comes to reporting claims to your insurer, promptness is essential. If you delay, your coverage could be negated – and that could be a big problem for your business. Protect your coverage, your company and your bottom line by reporting claims promptly.

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Tags: Risk Management


Are there costly liability surprises lurking in your contracts?

July 29 , 2020

contacts

Dealing with contracts and insurance requirements can be tricky business. Things can get especially dicey when dealing with contractual liability exclusions, additional insureds, “insured contracts” and other intricacies of the contract process.

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Tags: Risk Management


Liquor liability is a big risk – even during COVID-19

July 22 , 2020

liquor

Liquor is big business – but it can also be a big liability. According to The Drinks Business, U.S. alcohol sales reached $253.8 billion in 2018. At the same time, alcohol is associated with health problems, drunk driving and other serious risks – and businesses that sell alcohol may be held liable.

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Tags: Risk Management


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