In our July 2017 edition of Crest News and Views, we’re featuring articles regarding different aspects of commercial insurance and risk management. We also have several articles and information regarding personal insurance. Our personal lines brokers are standing by to aid inall your homeowners, automobile and personal insurance needs.
Global Cyber Attack Could Cost $121.4 Billion, Lloyd’s Estimates
A global cyber attack could result in damages of as much as $121.4 billion in an extreme event, comparable to economic losses caused by Hurricane Katrina in 2005, Lloyd’s of London said in a report.Read More >>
OSHA’s New Silica Rule Is At Risk … So Are Employers Who Ignore Its Provisions
On May 3, 2017, a coalition of construction industry associations formally petitioned the Occupational Safety & Health Administration (OSHA) to commence a limited reopening of the agency’s March 25, 2016, final rule setting requirements for reduction of respirable crystalline silica (RCS) in general industry, construction, and maritime workplace.Read More >>
Directors, Officers Fear Personal Exposure to ‘Cyber Nightmare’
Indeed, a sense of dread about how far up the ladder such liabilities could rise was palpable throughout the Risk and Insurance Management Society’s recent annual conference, where one of the many cyber sessions I attended was ominously entitled: “Protecting your board directors and executives from a cyber nightmare.”Read More >>
5 Ways to Strengthen a Contractual Risk Transfer Program
In any contractual relationship, it’s important for the parties involved to properly allocate their combined risks. Contractual risk transfer identifies critical exposures and assigns responsibility for preventing and paying for losses — but it’s not always an easy process.Read More >>
What Type of Insurance Do I Need If I’m Renting Out My Home?
There are many reasons you might want to rent out your home on either a short- or long-term basis. Depending on the rental scenario, your standard homeowners policy may not cover losses incurred while your home is rented out, and you may require a more specialized insurance policy.Read More >>
Mitigate Sewer Backup Loss Exposure
Sewer backup loss exposures are a common coverage gap under a homeowners policy. In addition to procuring the proper insurance coverage, you should adopt several risk control techniques concerning this loss exposure, including the following.Read More >>
Does My Homeowners Insurance Cover Flooding?
Flood insurance is available for renters as well as homeowners. You will need flood insurance if you live in a designated flood zone. But flooding can also occur in inland areas and away from major rivers.Read More >>