Long-distance truckers haul many types of goods. Conventional freight insurance is usually enough for items considered safe, such as dry goods, and materials that do not pose spoilage or combustion risks, thereby endangering public health and safety. However, laws require additional specialized coverage for tankers hauling toxic chemicals and other dangerous cargo. The experts at GAIN Insurance say fuel tanker liability coverage is vital to protect public safety as well as for legal and responsible operation since the risk of spills or explosions poses danger as the materials are hauled down busy city highways.
Members of a professional association often face common risks that are unique to their trade or industry. An association captive insurance company may offer these members a cost-effective vehicle for insuring against their specific potential losses and liabilities.
A captive has the flexibility to tailor underwriting decisions to meet its members’ needs. This customization can provide the insureds with coverage and limits that may be difficult or expensive to procure in the conventional insurance market. The captive also establishes and manages uniform procedures for processing claims and can adopt appropriate loss control measures to reduce claims.
If you are a director or officer, it is important to have your own coverage that can protect you in case of a situation that occurs at work. Here are a few ways d&o coverage can help you.
Protection If You Get Sued
If you get sued, it can cost you a lot of money out of pocket when you don’t have insurance. By having d&o protection in your insurance policy, you can avoid these problems and remain safe. This type of insurance can also protect the company as well, according to Axis Insurance.
Covered When You Go to Court
In the event you need to go to court, your d&o policy can cover legal fees and even payments for settlements and losses. This can save you money in the long run, while protecting both your personal finances and your professional reputation. Having the coverage you need is necessary should an instance like this occur.