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BT Policyholder Protection Blog
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16 Sep 2016 Renewal is a Time to Think Critically About Your Insurance Program

  The approaching year-end means many commercial policyholders will be going through the process of renewing their property and casualty insurance coverage. Whether renewal occurs at year-end or mid-year, it is a time when smart policyholders will be thoughtful and proactive about making sure their insurance program provides the best possible protection. No single checklist could possibly capture the numerous and varied issues that commercial policyholders might want to carefully consider. That said, below is a list of issues policyholders may want to examine as they go through the renewal process, keeping your own individual circumstances in mind.   Defense of liability claims – Having coverage for the costs of defending litigation can be one of the most important benefits of commercial liability insurance. The…

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25 Mar 2016 Are You Prepared for a Natural Disaster? Five Tips for Preparing for a Natural Disaster

  Spring is here, which means natural disaster season is here as well. While spring brings a welcome change in the weather in many areas of the country, it often also brings floods, tornados, hurricanes and other disasters that can cause substantial property damage and business disruption. Now is a good time for policyholders to make sure they are as prepared as they can be in the event of an unexpected property loss. Addressing a few basic but sometimes overlooked issues before being thrust into the chaotic aftermath of a natural disaster can go a long way toward making the insurance recovery process more efficient.   Review and understand your policies. Do you know where to find your company’s property insurance policies when you really need…

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23 Dec 2014 Don’t Overlook Insurance as a Source of Protection from Losses Caused by Fraud or Theft

Widely cited reports and estimates find that employee theft and embezzlement causes billions of dollars in losses for businesses annually. The approaching new year – often a time for insurance renewals – offers businesses the opportunity to take a fresh look at whether they are sufficiently covered for these potentially devastating losses. Insurance frequently can be the most promising source of recovery after fraud or theft losses given that efforts to recover stolen funds from the wrongdoer may be futile. Coverage can be available from a variety of sources. Standard fidelity policies, for example, provide coverage for losses caused by an employee’s dishonest or fraudulent conduct. Financial institution coverage may reimburse losses caused by fraudulent conduct occurring in the course of obtaining loans or funds…

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23 May 2014 “Circumstance Reporting” Can Preserve D&O Coverage

  Many directors and officers liability policies are written on a “claims made and reported” basis. This means that the policy covers only claims that are asserted against the insured and reported to the insurer while the policy is in effect, or within a short grace period provided after the policy expires. The requirement that claims be reported while the policy is in effect can create practical and legal difficulties. This is particularly true when events that might end up resulting in a claim happen near the end of a policy period.   For instance, the insureds can be placed in a difficult situation when they receive communications that expressly or implicitly threaten to assert a claim, but the communications do not rise to the…

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