What is a 'Hammer Clause'?

What is a 'Hammer Clause'?

For executives and board members, and also for most professionals, your actions have big effects on others. Consequently, they need special insurance, such as a Professional Liability policy or a Directors & Officers policy. In these policies, there is almost always a 'Consent to Settle' clause, often referred to as a 'Hammer Clause', that puts restrictions and conditions on settling claims. 

Read More

How to Find Insurance for Your New Business

How to Find Insurance for Your New Business

Entrepreneurship is at the heart of the American Dream, and has led to many worldwide companies—McDonald’s, Coca-Cola, and Apple, just to name a few! The freedom and empowerment of owning your own business can be very fulfilling, but it takes a lot of work to get your new venture up and running. You’ll be facing plenty of ‘red tape’, along with making a business plan, finding a location, finding funding, and much more. While you're trying to figure those things out, you'll also need to line up your insurance before you can open your doors for business. This article will give you an overview of insurance for start-ups and new ventures.

Read More

What Are Professional Liability Policies?

What Are Professional Liability Policies?

Some risks overreach the boundaries of the General Liability policy. These risks require the use of a specially designed policy, called the Professional Liability policy. Who all needs a Professional Liability policy? Why aren't these risks covered by the General Liability policy?

Read More