Insurance Renewal News

Know thy Contracts, and the Liability Accompanying Them

‘No man is an island.’ Today, the interconnectivity of business can drive opportunity, but those same interactions can significantly affect us and our businesses. Today’s marine businesses have to manage and prepare for the actions of “the other guy” as much as they have to manage their own operations. While businesses often ask their customers, tenants and subcontractors to carry insurance, they often do not carefully delve into insurance specifics to assure that gaps in insurance coverage don’t exist, that limits are adequate, or that they have the right coverage for their operations. To explain some unforeseen liability issues that may occur…