Insurance
December Business Bytes
This month’s Business Bytes highlights cyber risks, homeowner’s insurance and ADA shakedowns. Cyber Risks. Ransomware and business e-mail attacks on small and medium size business enterprises constitute the greatest and most expensive cybercrimes...
Inventory/Product Loss
Insurance trade groups report an increasing number of loss claims arising from inventory and product loss – often employee theft. As these losses increase premiums increases will follow. Be sure that any steps taken to prevent such losses are legal, defensible,...
November Business Bytes
This month’s Business Bytes highlights right of publicity, defamed corporations and key person insurance. Right of Publicity. Like the law of many other states, Illinois’ Right to Publicity Act, 765 ILCS 1075, prevents the commercial use of a person’s...
Financial Distress
When your business is faced with financial distress, there are actions you can and should take before all your lenders, creditors, landlords, customers and employees learn about the situation that may alleviate, reduce or defer the fall-out, that include:...
October Business Bytes
This month’s Business Bytes highlights non-competiion contract clauses, privacy protection persistence and umbrella insurance. Non-Competition Contract Clauses. While there are legitimate needs and purposes for an employer to require its employees to sign...
September Business Bytes
This month’s Business Bytes highlights cyber security, privacy violation suits and marijuana in the workplace. Cyber Security. With more cyberattacks predicted and smaller businesses with less to spend on security being targeted, there are some inexpensive...
August Business Bytes
This month’s Business Bytes highlights gift/estate tax exemption, cyber insurance confusion and social media liability. Gift/Estate Tax Exemption. While the Taxpayer Relief Act of 2021 increased the $5,000,00.00/$10,000.00 estate tax and...
July Business Bytes
This month’s Business Bytes highlights privacy protection, pursuing insurance claims and businesses in distress. Privacy Protection. While Illinois may have been first to enact strict privacy protections, most states, the federal government and many countries...
Notice to Your Insurance Carrier
A recent rash of court rulings highlight the need to give all of your insurance carriers timely, complete, accurate and documented notice of a lawsuit, claim or potential claim in order to ensure you are entitled to the carrier’s defense and coverage that you paid...
Personal Umbrella Policy
A personal umbrella insurance policy is a layer of coverage above your auto, homeowners and business coverage to protect your business or personal estate in the event of a catastrophic claim. It should start low enough to avoid gaps with underlying coverage and be...
