Business & Commercial Insurance
Some Trains Need Waiver of Subrogation to Run
Learn about subrogation and waiver of subrogation in commercial insurance. Read about the Waiver of Subrogation Endorsement/Clause and why your business may need it. Practically, and to a large extent legally, businesses need the protection provided through commercial insurance. The trains don’t run without proper commercial insurance in force. For some business sectors, a not-so-well-understood…
Read MoreCyber Risk Immunity, Forget It – Adopt a Cyber Risk Resiliency Approach
Nobody is immune from cyber-attacks! In August 2021 T-Mobile had a total of 40 million subscriber, prospect, and former customer accounts hacked. The breach included names, driver’s license numbers, Social Security numbers, and device information. In 2020 SolarWinds, a provider of system management tools, was attacked using a supply chain of attack. This method inserted…
Read MoreProtect and Defend with Professional Liability/E&O Insurance
Read about Professional Liability/E&O Insurance and what types of businesses need it. Learn about Professional Liability/E&O Insurance, commonly written on a “claims-made” basis. Professional Liability Insurance is a type of commercial insurance that should be purchased by any business engaged in a profession. The business may be as small as a one-person sole proprietorship or…
Read MoreSubrogation, Part of the Claims Process
On the Saturday before Memorial Day last year within the span of 5 minutes, I received three phone calls from three different insureds that somebody had driven their car into a building damaging it and taking off (luckily nobody was injured). In this situation, Richey-Barrett insures the building owner and two tenants of the building.…
Read MoreBasic Aspects of Business Insurance
Are you just starting up your new business? Or perhaps you have recently been wondering if your current commercial insurance coverage is enough. It can be frustrating trying to educate yourself about business insurance options. Let us help you understand some basic aspects of business insurance. General Liability This is the foundation of most policies.…
Read MoreDistributors are an Undeniable Link in the Products/Completed Operations Chain
Not all bicycles are created equally, but all bicyclists expect that the bicycle is safe to operate for its intended purpose. Let’s return to the hypothetical example in my earlier blog of a bike rider suffering an injury due to faulty hand brakes. Consider a distributor who sold defective brake levers to the bicycle manufacturer,…
Read MoreAlternative to Risk Management
If you are a regular reader of our blog, thank you and if not, welcome. To our regular readers, you may have noticed how we write about different categories of insurance or in digital marketing verticals. The vertical for business insurance in Ohio Insurance Solutions has touched on many specific items such as Worker’s Compensation,…
Read MoreRegular and Routine? Not So Fast.
Read about the business of business and commercial insurance you never knew. Learn why specialty lines, E&S, commercial insurance exists. Own a car? Ride in a car? Use public transportation? Take any prescription medications? Fly on an airplane? Ever been up, up, and away on a hot air balloon? Many of us can check off…
Read More72,675 Reasons Why your Business Needs Employment Practices Liability Insurance
Every business in Northeast Ohio with employees or customers is exposed to potential employment practices liability claims. In the year ending December 31, 2019, the Equal Employment Opportunity Commission (EEOC) stated there were 72,675 charges against employers for discrimination. Read More! Employment Practices Liability Insurance (EPLI) should be part of your business insurance and loss mitigation program. Uninsured claims…
Read MoreCommercial Insureds…Heads Up on Products/Completed Operations Liability
Whether your business is a large manufacturing or a small independent contracting, you have a Products/Completed Operations Liability exposure. This is a risk of doing business, and Commercial General Liability insurance provides protection for this exposure. Perhaps the easiest way to gain an understanding of Products/Completed Operations Liability is by example. Consider a business engaged…
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