Lawsuits

Personal Umbrella Policies are liability insurance policies with very high limits of protection, typically starting at $1,000,000. They are designed to add a layer of protection above other kinds of personal liability coverage such as the liability protection found in a personal auto, homeowner or boat insurance policy. These kinds of policies are meant to protect you should you be deemed legally responsible for injury to persons or property. Personal injury can include non-physical injury like libel or slander.
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Should you report incidents that result in injury to your insurance agent?Rather than worry that an injury claim might raise your homeowner policy premium consider this:in NY the statute of limitations, that is the time between when an incident occurs and a lawsuit can be filed, is three years.However for a child the statute of limitation's clock starts running when the individual turns 18.In other words if a two year old child is injured on your property in the year 2016 they could conceivably bring a lawsuit against you in 2035, 19 years from now!Sound preposterous!Check out the 1/3/2016 edition of the Buffalo News and read how former Buffalo Sabre Grant Ledyard is being sued for an incident that occurred in his backyard during his son's birthday party in 2004.An 11 year old girl was accidently struck in her mouth by a plastic golf club and brought suit against Ledyard 2 years ago when she turned 20.By reporting the claim after it occurred Mr. Ledyard's company will defend him and pay a settlement if he loses the case.So a word to the wise: don't be pennywise and pound foolish. Call your agent and report the claim.
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It's often noted that America is an excessively litigious society which may or may not be accurate, depending on who you ask. But there's no question that the rules and regulations that have made it relatively easy to sue for personal injury in the US have resulted in some truly bizarre lawsuits and legal proceedings. Read on for some of the most entertaining ones we found.
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If you have a domestic employee, such as a gardener, housekeeper, or nanny, who drives his or her own auto while working for you, there is a potential for you to incur liability arising from their driving that would not be adequately insured. If your employee negligently causes an accident, you as the employer can be drawn into the lawsuit and held liable. Your employee’s own insurance, if any, will protect you up to its policy limits, but you are on your own after that. And your personal auto policy may not respond to cover the difference. The courts have ruled in different ways on these types of loss situations.
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What do real estate firms, golf courses, law offices, banks, farm owners, contractors, dry cleaners and gas stations have in common? Exposure to environmental or pollution lawsuits. Companies that deal with the transfer and storage of hazardous materials, like waste haulers, or fuel oil distributors all have an obvious need for insurance against environmental hazards. But businesses involved in property sales transactions (banks, realtors, lawyers) can pick up the pollution liability that comes along with the subject property. Many businesses use chemicals and substances that are benign, when confined to intended purposes (golf courses, farms, dry cleaners). But improper storage of these materials, inappropriate use, or run-off (pesticides and herbicides) can lead to environmental damage, personal injury and a lawsuit.
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Risk management is the process of identifying, assessing, and controlling risks to an organization. It is important for businesses of all sizes to have a risk management plan in place to protect themselves from financial losses.
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Professional Liability Insurance...what is that and who needs it? If we changed the name to 'malpractice insurance' most of us would answer the question right away by responding 'doctors'. But the fact is 'malpractice' is a concern for professionals across many fields of endeavor.

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A survey of 422 businesses in May and June of 2006* indicated that, for 89% of the participants, at least one new law suit was filed in the prior year. Lawsuits brought by employees, both current and former, has been a litigation growth area in the recent past. And prospective employees who feel they were wrongfully passed over for an employment opportunity are also more likely than ever to bring suit.
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