A recent decision involving insurance coverage for a rideshare driver explains the temporal aspect of rideshare policies, which insure drivers during certain phases of the rideshare process. Here a driver sought uninsured motorist coverage under policies issued by James River Insurance Company, an insurer for transportation network company Uber, for injuries she sustained after dropping
Wind, Flood or Storm Surge: Pick Your Peril Carefully
A catastrophic loss, such as a hurricane strike, can force any company out of business, even if it is insured. Although a business does not suffer any direct physical damage to its facilities, fickle natural disaster events can disrupt a company’s entire supply chain, with ripple effects for vendors, suppliers, customers and second-tier providers
Trigger for Hurricane and Named Storm Deductibles
Recent damage from Hurricanes Harvey, Irma, and Maria have focused attention on special “named storm” and “hurricane” deductible endorsements found in most property insurance policies issued for coastal areas. Such endorsements typically convert the insured’s deductible from a fixed amount to a percentage of the property value, such as 1, 2, 5, or 10 percent,