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The Myth of Mitigation—In a quality failure situation, all focus is on mitigation. Ron Prichard recommends redirecting efforts toward prevention.

Personal Umbrella Insurance 101—Jack Hungelmann answers some basic questions about personal umbrella policies.

Changing Definition of "Occurrence" in CGL Cases—Faulty workmanship and the CGL policy—Steve Rawls relates recent litigation.

Hacking, Malware, and Social Engineering Threats—Melissa Krasnow describes these threats as well as pretexting, phishing, and spear phishing.

Personal Lines Insurance Is Getting More Personal—Technological advances, says Elise Farnham, are making the claims process more personal for insureds.

Asbestos Damages Excluded under Property Policy—Court rejects attempt to shoehorn environmental pollution damages into policy coverage. Kent Holland relates the case.

Towing Maritime Contracts into the Internet Age—Can a service order reference to a website for insurance conditions result in risk-shifting indemnity? Mike Orlando says apparently so.

Registration Now Open

IRMI Cyber & Privacy Risk Conference

Every business has cyber and privacy loss exposures. Is it not wise to learn how to identify, insure and contractually transfer these complex and potentially catastrophic risks? Richard Clarke, international expert on homeland, national and Cybersecurity, will deliver the keynote address. See the agenda, workshop descriptions and available discounts.

New 2nd Edition of Captives Book

Is your captive achieving your or your clients' business objectives?

If you have asked the above question, Captive Practices and Procedures, is for you. Learn what it takes to establish a successful captive insurance company from expert author Kate Westover. See the table of contents and how it will benefit you.

Current Issue of IRMI Update

Read the January 25 issue and sign up for this free e-mail newsletter.

IRMI Update 264 explains why now is the time to consider a captive. The risk tip stresses the importance of recognizing contractual risk for bond issue financed locations.

IRMI Insights

Sound Advice for Contract Drafters: Fix Your Out-of-Date Insurance Requirements!

Many contracts require decades' old insurance policies and endorsements. For example, the comprehensive general liability policy became extinct in 1986, yet many leases, construction contracts, rental agreements, and other business contracts still require it along with other nonexistent insurance contracts and endorsements. This article describes the issue and why it is a problem for the drafter's company as well as for the lessee, vendor, or contractor, and why it results in an immediate breach of contract situation upon execution of the agreement. It then provides simple, straightforward advice to contract drafters who wish to assure their organizations are properly protected. Feel free to send this article to anyone who asks you or your clients to comply with out-of-date insurance requirements.