A study finds that the wealthiest Americans are in fear of being sued, simply because they have more money than than nearly everyone else. One can assume that this group is able to afford to purchase all the insurance they need. Even so, an umbrella liability policy could help them. A study was done by ACE Private Risk Services. They are part of the ACE Group, and they specialize in high net worth personal insurance. In other words, this is an insurer that sells policies that are useful for the wealthiest Americans. The study was called “Targeting the Rich: Liability … Continue reading →

Did you know that airlines are supposed to provide financial compensation if they lose your luggage? Federal regulations allow people to collect up to $3,300 for luggage that the airline lost, (as well as for the contents of the luggage). It has to do with liability. Every business, no matter what it sells, serves, or provides, should have a good amount of liability insurance. This type of insurance gives the business some protection in case certain problems occur. According to Investopedia, business liability insurance is “Insurance that protects a company and/or business owner in the event of a formal lawsuit … Continue reading →

An errant cannonball that was shot off by the co-hosts of the MythBusters television show has caused some unexpected damage to some unfortunate families homes, (and a vehicle). The stars of MythBusters have apologized to the families, and will not air the footage. What insurance should the damage claims be sent to? MythBusters is a television program that is shown on the Discovery channel. It features the hosts Jamie Hyneman and Adam Savage, who set out to discover if certain myths are actually true. They do a scientific experiment that is designed to debunk, or prove, the myth that they … Continue reading →

Malpractice insurance is expensive. Most doctors would consider it necessary to purchase, because they are in fear of being sued for malpractice. It has been said that these cases are part of what drives up the cost of seeing a doctor, and the cost of health insurance. New York has tried something new that seems to reduce the number of malpractice cases. When you go to see a doctor, you are trusting that he or she will choose the right course of treatment, and will properly administer it. Doctors are humans, though, which means that mistakes can sometimes be made. … Continue reading →

If you are a pet owner, no matter what kind of pets you have, you know that sometimes your pets will need to visit a veterinarian. You might have purchased pet insurance to help with the (often expensive) cost of the medical care your pet needs. Have you also purchased liability insurance on your pet? Some lawmakers in Texas want to require all dog owners to buy a pet liability insurance policy. This has brought up some controversy. There is a piece of common sense that anyone who owns a pet soon comes to realize. Pets, just like humans, do … Continue reading →

One of the fun things you can do to celebrate Halloween is visit one of those local haunted house attractions set up by a group in your community. For most people, this is good, scary, fun. For insurance underwriters though, it’s a whole lot more scary than it is fun. Where the rest of us see a good time, an underwriter sees potential insurance claims, waiting to happen. Let’s face it, Halloween is a truly bizarre holiday. The things we do to celebrate Halloween are not things that most of us would even consider doing at other times of the … Continue reading →

Halloween is strange, from an insurance standpoint. For just one night, a group of complete strangers are going to arrive at your door, expecting to receive candy and treats. Most of these strangers will be children, and not all of them will be accompanied by adults. All of them will be wearing a costume, which means they may be wearing masks that obstruct their vision, or an outfit that makes it difficult for them to walk around. There is great potential that an accident will happen! Unfortunately, there isn’t anything called “Halloween Insurance”. So, what can you do to protect … Continue reading →