Business Insurance Claims

Panel Affirms $7.28M Verdict For Mesothelioma Victim; Evidence Was ‘Sufficient’ - Lexis Legal News

A Maryland appeals panel on Aug. 10 affirmed a trial court’s decision to award damages to a man who developed mesothelioma as a result of working on a building project where asbestos insulation was used, ruling that the evidence presented at trial was sufficient for the claims that were made (Wallace & Gale Asbestos Settlement Trust v. William Edward Busch Jr., No. 1055, Sept. Term 2017, Md. Spec. App.).

Panel: Asbestos Trust Owes Law Firm For Work On Claim To Insolvent Insurer

Mealey's (May 9, 2017, 1:13 PM EDT) -- ST. PAUL, Minn. — A trial court erred by releasing an asbestos settlement trust of any duty to pay a law firm for work on a claim filed with an insolvent insurer despite finding that the firm performed some uncompensated work on that claim for which a promise to pay was implied, a Minnesota panel held May 8 (Faricy Law Firm, P.A., v. API Inc., Asbestos Settlement Trust, No. A16-1539, Minn. App., 2017 Minn. App. Unpub. LEXIS 421). 
(Unpublished opinion available.  Document #10-170526-020Z.)

When Disaster Strikes: Business Interruption Insurance

Several unforeseen events could cause you to have to close your business at least temporarily. Fires, tornadoes and hurricanes are just some of these events. Research shows that somewhere in the neighborhood of 25 percent of businesses forced to close their doors due to some calamity never reopen due to significant financial losses. That doesn't have to happen to you.

The 10 Most Common and Most Costly Business Insurance Claims

When small businesses obtain an insurance policy, they hope never to have to think about it again. Unfortunately, claims occur more frequently than many business owners expect. According to a study by The Hartford, a financial services company, 40 percent of small businesses will incur a property or liability loss in the next 10 years.

Based on analysis from The Hartford's study, below are the 10 most common business insurance claims.