Minimum and Deposit Premium

Understanding the terminology A minimum and deposit premium is the amount due at the inception of the Product Liability Policy.  Even though the policy is “ratable” (subject to adjustment based on rate per sales), under no circumstances will the annual…

Understanding a Product Liability Audit

Why No Refund? One of the least understood aspects of a product liability audit is the perceived unfairness of why there is no refund of premium at the end of the policy period from the insurance carrier when actual sales…

Insurance Carriers Have Concerns about Insuring Nanotechnology

It’s early in the game of assessing the risks The full potential of nanotechnology is yet to be seen. It’s being suppressed by insurance carriers unwilling to insure the innovative products created by using this technology. We received a call…

4 Tips How Not to Inherit Liabilities When Buying a Business

You don’t want the company’s liabilities, just its assets Follow these tips to prevent the liabilities of the company you’re purchasing from transferring to you with the sale. Examine the purchase agreement carefully.  It may require the buyer to assume…

Chinese Product Liability Policies

Being named additional insured doesn’t instill confidence If you are an importer of Chinese products and have been told by the Chinese manufacturer or distributor that you are covered by their product liability insurance policy, I recommend you read Linda…

There are Liabilities in Hiring an Independent Subcontractor

Do you assume that you’re financially insulated from the missteps of the independent subcontractors you hire? You may find that your subcontractors aren’t as independent as you think. In the eyes of the courts, they could, in fact, be employees….

What is the Pre-emptive Defense?

Why it cannot apply to all FDA-approved products Over the past few years I have gone back and forth over whether pre-emption is good for the American public. The Pre-emptive Defense Many pharmaceutical and medical device companies contacting me for…

Are Your Personal Assets Really Protected by Incorporating Your Small Business?

A common misconception among owners of incorporated business owners is that they have no personal liability in the event of a product liability claim.  Probably 65% of all the incorporated start-up businesses that contact me tell me they would not purchase…

When Should You Buy Intellectual Property Abatement Insurance?

Understanding what Intellectual Property Abatement Insurance covers Inventors, patent holders and current product liability clients seeking insurance that to protect their intellectual property rights should purchase Intellectual Property Abatement Insurance. Intellectual Property Abatement Insurance covers litigation expenses up to the policy limit…

Intellectual Property Abatement Insurance

Why your attorney may discourage you from buying it In the best interest of their clients, many attorneys recommend that clients purchase Intellectual Property Abatement coverage. This is so their clients have the financial means to enforce their Intellectual Property…