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Statutes of Limitations in Reinsurance Disputes—The trick, says Larry Schiffer, is determining when the clock starts to run.

2012: Commercial Insurer Growth Remains Uncertain—The anticipated insurance market is not expected to bring large rate increases or less stringent underwriting standards, per Jeff Balcombe.

Builders Risk: Naming of Insureds Reloaded—Steven Coombs explains the importance of a severability of interest clause or similar provision in a builders risk insurance policy.

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.

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 February 8 issue and sign up for this free e-mail newsletter.

IRMI Update 265 announces that Cyber War author Richard A. Clarke will keynote the 2nd IRMI Cyber and Privacy Risk Conference. Also, the January Captive Insurance Company Reports examines evaluating domiciles from the regulatory perspective.

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Sound Advice for Contract Drafters: Fix Your Out-of-Date Insurance Requirements!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