Risk Management for Building Owners with Vacant Buildings

The most common property form in use for commercial buildings is the ISO form, CP 00 10 04 02. The language of the form states explicitly:  ”Buildings under construction or renovation are not considered vacant.” Some brokers will advise their building owners that because they have “construction going on” in their buildings, right? [wink-wink], they needn’t worry about the vacancy clause.  Such flippant advice is fraught with peril for both the broker and the building owner client. Having had private...

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Workers Comp Class Code Changes After Policy is Issued

A new client, has asked me to review their recent final audit, and reclassification by the Workers’ Comp carrier. The policy period is Jan 27, 2013 to 2014, and the client is a small medical device manufacturer.   The Workers’ Comp policy was issued using one class code, 8859, Computer Programmers!  While lower rated class codes are often used on medical device startups while in R&D, 8859 is never one of them. In the process of completing the audit for the period, the auditor from the carrier discovered the...

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Liabiilty Considerations of the JOBS Act

Chubb Insurance Company has recently produced a great piece entitled, “What Is the JOBS Act? And Will Your Company Face New Risks.” By way of introduction… Passage in 2012 of the Jumpstart Our Business Startups (JOBS) Act makes it easier for companies to raise capital with securities exempt form registration with the Securities and Exchange Commission (SEC). …New Opportunities…and New Risks– Three Titles of the JOBS Act present new opportunities for private companies to raise capital without registering...

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Experience Rating in California

The WCIRB develops advisory pure premium rates for workers’ compensation insurance, and rules and regulations with respect to the California Experience Rating Plan,  subject to the approval of the Insurance Commissioner. In conjunction with the ratemaking activities, the WCIRB collects premium, payroll and loss information incurred on all workers’ compensation policies that provide California coverage. The individual data collected for each employer is further compared to other employers in California based on the primary class...

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The ABCs of D&O Insurance Clauses, Peter R. Taffae

This article from the 2009 issue of Property & Casualty 360 is excellent explanation of the current state of D&O insurance policies and the three insurance clauses, A, B and C.

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Hopkins & Carley Advisory

Hopkins & Carley is a premiere regional law firm headquartered in the heart of Silicon Valley.  Dan Pyne chairs the Employment Law Department and has served as the firm’s Deputy Managing Shareholder since 2009.  The website is www.hopkinscarley.com.  Under “Practices”, select Employment Law.  At the bottom of the page, you will be able to access previous Advisory letters, and sign up to receive future letters. Remember to Calculate Overtime Pay Based on Your Employees’ “Regular Rate of Pay”, July 1,...

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