| Risk Retention Groups |
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| Risk retention groups serve as captive insurance companies formed to provide insurance to members of the group. Rather than purchase insurance from independent insurers, the group of companies forms its own insurance company. Companies with similar risk management concerns thus may exercise greater control over their insurance coverage, pricing, and claims administration.More... |
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| The CGL Policy Exclusion for Damage to the Insured's Property |
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| The standard comprehensive general liability policy insures a business against liability arising from personal injury or property damage suffered by a third party. Various exclusions are included in the CGL policy, including Exclusion J -- Damage to Property, that are designed to limit coverage to third party injury or damage. More... |
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| Types of Insurance Companies |
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| The structure of an insurance company may affect how it does business. Insurance companies may take the form of regular stock companies, may be mutual insurance companies, or may be "captive" subsidiaries of companies that effectively are self-insured. More... |
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| Professional Liability Insurance - Errors and Omissions Policies |
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| Professional liability policies, also called errors and omissions (E&O) policies, are purchased by professionals to protect themselves from liability arising from their performance of professional services. E&O policies are typically purchased by those in the medical, legal, and banking professions, but policies may be issued for many other professions. Directors and officers liability policies are also included within the scope of professional liability insurance, but this article focuses on E&O policies.More... |
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| Policy Construction Against Insurer |
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| Insurance policies are contracts drafted by insurers, but the terms are not always clear and unambiguous. When a dispute arises between an insured and an insurer as to the meaning of a policy, courts sometimes become involved to provide a construction of the ambiguous term, as they do with other types of contracts. Disputes usually involve which risks are included in coverage, exclusions from coverage, conditions that must be fulfilled before coverage applies, and forfeitures of the policy.More... |
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