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Jeffrey Forbes

Jeffrey Forbes
Jeffrey Forbes is a blog contributor specializing in risk, legislation, regulations, and casualty topics for ECBM Insurance Brokers and Consultants. He uses his years of experience as a lawyer in Denver, Colorado to provide in-depth analysis of issues faced by our clients and other business owners. To follow Jeffrey's monthly contributions to our blog, be sure to sign up for our newsletter The ECBM Edge.
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Recent Posts

A Perfect Storm For Cyber Risk: What Does Your Forecast Look Like?

There are recognized patterns of higher risk. For example, Hurricanes and earthquakes do catastrophic damage to a specific geographic area. These natural disasters pose unique risks to insurance companies as a result of that history. If an insurance company insures at lot of this type of risk, it can face massive losses and have its financial stability threatened. For this reason, insurance companies try to avoid insuring too many homes or businesses (for this example) in an at risk area for hurricane or earthquake damage. While this helps keep insurance companies financially sound, it can make coverage harder to obtain for those who need it most.

Read This If Your Employees Drive On The Job

Lawsuits are expensive... and they only ever get more costly as time goes on. To reduce delays, state governments have searched for ways to fairly apportion damages for certain types of accidents without having injured parties resort to filing lawsuits for some time. Workers' Compensation is one example of a system that states have used to avoid and prevent lawsuits in the specific field of workplace injuries by eliminating any requirement for fault or negligence.

Five Doubts You Should Clarify About CA9948

Pollution coverage in commercial automobile coverage can be a tricky subject. The standard commercial automobile policy excludes coverage for pollution events unless the pollution stems from a substance necessary to the operation of the vehicle; this means substances like gasoline or brake fluid. There are three ways companies get around this exclusion – through the MCS-90, through transportation pollution liability coverage through a stand-alone policy or as part of a contractor’s pollution liability policy, or through the CA-9948 endorsement.

Why Is There Employer's Liability Within A Workers' Compensation Policy?

 

Workers compensation systems exist to take workplace injuries out of the courtroom and resolve those claims in a more cost effective way without worrying about fault.  Many employers purchase their workers compensation policies simply as a matter of necessity.  But these policies cover more than just the statutory workers compensation scheme.

How Is Co-Insurance Is Connected To Loss Analysis?

Have you insured your property to its full value? It can be tempting to underestimate the value of your property when purchasing insurance to obtain lower premiums. Someone thinking about employing this strategy might only want coverage to a certain level and be willing to accept the negative consequences of a loss that exceeds the policy limits.

Why Does A BASIC Score Matter For Your Trucking Business?

The Federal Motor Carrier Safety Administration uses Compliance Safety and Accountability scores to assess the safety of trucking companies and target the most at-risk companies for additional interventions. CSA scores are composed of seven BASICs (Behavior Analysis and Safety Improvement Category) which attempt to use data available to the FMCSA to pinpoint trucking companies with inadequate safety procedures. While most BASIC information is available to the public, the FMCSA does not make the crash indicator BASIC available to the public. However, the information is available to the trucking company itself and enforcement personnel.

Meeting ERISA Bond Requirements And Protecting Your Business

Retirement plans are an excellent way for employers to attract and retain key employees by offering non-salary compensation. Most employers in the modern era offer some form of 401(k) or other retirement offering to their employees. These plans, though, come with many risks and regulations that employers need to pay attention to, or they could wind up costing themselves big money. 

Insurance Can Do That: Protecting Your Business Against DDoS Attacks On Cloud Servers

When people think of cyber losses and cyber insurance, they tend to think of privacy breaches. The exposure of personally identifying information and concomitant risk of identity theft, which is followed by notification costs and regulatory fines is a recognized threat. More and more, though, the interruption of day to day business is the highest cost of a breach. These losses can lead to lost sales, lost productivity, reputational damage, and missed deadlines leading to breach of contract.

New Rules And Regulations: Joint Employer Relationships

On April 1, 2019, the Department of Labor proposed a new regulation, and it wasn’t an April Fool’s joke. The new regulation would seek to update the Department’s sixty year old test for determining joint employer relationships under the Fair Labor Standards Act. It is worth noting that this is different from the long running dispute over the joint employer test decided by the National Labor Relations Board as a part of its 2013 ­Browning-Ferris decision. This new rule would apply to allegations that employers had failed to pay their workers legally obligated wages under the Fair Labor Standards Act.  Joint employers would be jointly and severely liable for any ordered back pay.  

Cyber Security: Breaches Caused by Employee Errors

When businesses think of ways that poor cyber security can lose them money, they often think of hackers breaching their systems.  It’s easy to picture this as a pitched battle between the cyber criminals storming the castle walls, and the defenders seeking to repel them.  Unfortunately, some cyber incidents and privacy breaches occur not through the concerted efforts of the bad guys; instead they happen due to simple mistakes and negligence by a company’s own employees.