Entries tagged: insurance

It is absolutely time to revisit and revise New York State’s absolute liability standard imposed upon contractors and owners for construction-related accidents. New York Labor Law Sections 240 and 241, colloquially referred to as the “Scaffold Law,” impose a strict liability standard on contractors and owners for elevation/gravity related accidents.  Unlike other personal injury matters, […]

Companies of all shapes and sizes understand the importance of general commercial liability coverage. But, with the unprecedented rise in cyber attacks—particularly against businesses that collect and store the personal, medical, or financial data of their customers—how many companies have invested in the necessary cybersecurity insurance coverage?  PwC estimates that cyber insurance premiums will reach […]

    Liability insurance policies provide both indemnification and defense coverage to insureds when they are sued for injuries and/or damages. Insurance policies also contain various exclusions, or exceptions, from insurance coverage. After an insured notifies its insurance company of a lawsuit brought against it, the insurance company investigates the claim and the coverage provided […]

  On March 1, 2017, the New York financial services industry will awaken to a new regulatory regime designed to set minimum standards for the development and functionality of cybersecurity programs.  The New York State Department of Financial Services’ (“DFS”) proposed cybersecurity regulation (the “DFS Rule”) will cover any institution doing business in New York […]

When an insured seeks liability coverage under its general liability or commercial liability policy after it has been sued for personal injuries or death resulting from an accident, New York State Insurance Law § 3420(d) requires the insurance company to make its decision to disclaim liability or deny insurance benefits to the insured and provide […]

A recent New York State Court of Appeals decision, Aetna Health Plans v. Hanover Insurance Company (NY Slip Op 04658, June 14, 2016), creates yet another worry for doctors and patients with respect to medical billing and ultimate responsibility for those bills. The issue presented is whether a health insurer that pays for medical treatment […]

Business interruption insurance is designed to protect your business if your business premises is physically damaged and there is a suspension or halt of business activity at that location. It is not typically a “free-standing” insurance policy—rather, it is an additional coverage that can be added to a property damage insurance policy (i.e., fire policy) […]

Cyber liability insurance is a risk management tool and a form of protection that a business can purchase to limit economic losses from damages and for liability from a potential hacking.  Most industries in today’s world conduct a lot of business through computers and the internet.  While modern technology helps to promote efficiency and organization […]

To protect shareholders, in certain circumstances the law places liability upon corporations and their directors and officers for damages caused by conduct harmful to shareholders or conduct that breaches fiduciary duties. Just the way car owners and homeowners have insurance to protect themselves from potential liability claims against them, corporations and their directors and officers […]

So you think you’ve done the right thing by requiring your tenant or a company performing services for you to name your company as an additional insured on its policy. You are then given only a certificate of insurance. You’re on the right track but there’s more to be done. Don’t be satisfied with only this document – you need to see […]