Delaware Business Insurance Update From CNC Insurance, "Triggering Coverage and the NFL"

Currently, the National Football League is in a battle with its insurers over coverage for player concsussions. The league has been sued by former players for the long term effects of concussions. The league is asking its insurance companies to defend and take care of the claims. The insurance companies are saying "no". Their reason is no one can determine when the occurrence of concussion happened. Here is the issue. A player who is retired suffers from the effects of concussions into his 60's, so when did the concussion happen ? What game? What quarter? Which helmit to helmit hit? The insurance coverage is written on a "per occurrence" basis, so you can see the problem here. During the time the league was insured, around 1968 to the present, there have been 12 or more insurance companies providing coverage. The insurance companies are saying," prove it was on my watch".
I am sure this will be around a long time. There is a bunch of money at stake and the NFL is expecting coverage. The contract of insurance is being looked at with a magnifying glass by the courts. The legal precedent that comes out of this could be game changer. I will keep you posted on this one. Until next time be careful out there and know your risks. K
G. Kevin Nemith, Business Insurance, Small Business Insurance, Risk Management, specialists serving Delaware, Maryland, Pennsylvania, New Jersey, & Virginia.  www.cncinsurance.com
www.bizinsurancetv.org 

Popular posts from this blog

Delaware Business Insurance Update from CNC Insurance Associates, " Personalization of Auto Insurance Could Reduce Rates !" 12-25-18

Insurance rates may go down in the future because of "auto personalization". What is this you ask? Imagine being charged insurance rates based on your personalized use of your auto. If you drive very little next week, then your rates go down. If you drive the speed limit most of the time, your rates go down. If you avoid hard braking and tailgating, your rates go down. Get the picture?  The use of telematics has given the insurance industry a chance to personalize insurance costs directly to the users' driving habits. Gone may be the days of surcharging a male driver under the age of 24 just because they are young. If the telematics show that he can drive as safe and responsible as a 40 year old, then his insurance premiums should be comparable. If you go on vacation and park the car for two weeks, telematics will inform the insurance company that there has been no risk, and your insurance premiums will reflect that. Now as good as this sounds it will work the other wa
Read more

Get employees back to work quickly to keep work comp costs down

Image
In the past I have spoken to clients regarding a particular workers compensation claim affecting them and have asked if they have brought the employee back to work yet. Too many times the answer is no, they have nothing for that employee to do since said employee is not 100% and unable to perform their specific job prior to their workers compensation injury/claim. The problem with this is that too often employers miss the point that even though an employee can't perform in the position they were in prior to their injury, it behooves the employer to create some type of alternative task/job the employee can do until such time they are able to resume their normal duties. Bringing that employee back to work means that work comp benefits /payments in that particular claim are being curtailed, thereby saving the employer potentially more being paid out, while adding to their experience mod and driving their overall work comp expenses up.
Read more

Delaware Business Insurance Update from CNC Insurance Associates. " Mental Health Issues in the Workplace Needs Risk Management" 12-2-18

Employees with depression and severe anxiety are very common in the work place today. Studies have shown that close to 50% of all who suffer mental health issues at work are not being treated effectively. Mental health disorders do not discriminate, as it affects all employees even in the C Suite. So what is the employers' responsibility for dealing with this issue? It definitely requires risk management.  Employers can begin by making sure the health insurance that is offered to employees has mental health coverage. Many plans do not carry this coverage even though the ACA requires it. More importantly employers should create a culture of conversation which can allow employees to openly discuss their mental issues. Employee Assistant Programs set up by employers can offer education and services to help employees improve their wellness and sleep. Also employees abuse of prescription medications , need employers attention to make sure doctors and counselors are part of the assistant
Read more