Attention business owners! A reminder: As of May 1, 2014, the Alabama Insurance Services Office requires agents handling comprehensive business insurance to include an endorsement to each policy excluding data breach or cyber liability coverage. An endorsement is a separate document attached to the policy that legally changes the terms and the coverage afforded under the policy. In a nutshell, your standard commercial general liability policy will no longer cover data-related liability claims. Deciphering a policy and its exact policy coverage is also breaking new ground as these policies are relatively new in relation to a commercial general liability policy. Also, navigating business data losses is a rising specialty as there are special nuances because no two data breaches or commercial businesses are exactly alike.
Most Recreational Vehicles – RVs for short – fall under Alabama’s Mandatory Liability Insurance Law. So, if your RV is a motorized vehicle, you must comply with the state-mandated amount of liability coverage. And although your automobile insurance policy might extend some coverage to your RV, it will not address the unique situations owning an RV can present. You will also be required to have proof of liability insurance if the RV is financed or is a rental. So what constitutes a “recreational vehicle” in terms of RV insurance? An RV can be a motor home or travel trailer. Each type has a singular definition for insurance purposes. Additionally, providers have set forth requirements that must be met for the vehicle to qualify for RV insurance.
It’s estimated that one in four workplace deaths are due to motor vehicle accidents. Are you a business owner who uses one or more vehicles during the course of business? Do you often rents or leases vehicles for business purposes? Do your employees use their personal vehicles for business purposes? If so, don’t count on your General Business Policy to protect you in the case of an accident – or worse. Alabama requires a minimum amount of liability insurance on all personal vehicles, so chances are your employees will at least carry some auto liability insurance. But, most commercial policies won’t cover an employee’s personal liability (just company liability), and most won’t reimburse employees for damage caused to personal vehicles used for company business. So, to protect business assets, adding Commercial Auto Insurance to a business policy is a smart move.