This month’s Business Bytes highlights “Made in America” claims, policy limit settlements, and dog bite insurance.
Made in America. There have always been regulations on “Made in America” claims. The current political atmosphere highlights this issue and stricter government enforcement of penalties for false claims or failing to meet enhanced standards to use the claim are expected. While your business should be proud to claim, “Made in America,” make sure your claim does not become a liability. READ MORE.
Policy Limit Settlements. Your liability insurer and the attorney it hires for you have fiduciary duties to act in your best interests so long as you cooperate in your defense and fulfill your other policy obligations. This relationship is tested when the claimant makes a settlement demand equal to or exceeding the limit of your coverage. As a recovery over your policy limit is payable by you, this is when you need a separate attorney to protect you from the risk and ensure complete insurance protection. READ MORE.
Dog Bite Insurance. While most homeowners’ insurance policies include liability coverage for your family and your pets, some policies and companies may exclude certain dog breeds, limit the number of pets, and rarely cover pets other than dogs and cats. Be sure your liability coverage includes more than bites and that it covers all of your pets. READ MORE.
