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Philadelphia Insurance Companies Introduces Chiropractor Professional ...

Bala Cynwyd, Pa., Dec. 23 / PRNewswire / - Philadelphia Insurance Companies (PHLY) is pleased to announce it will begin offering Chiropractors Malpractice insurance in several states. Chiropractors may now obtain policies in Alabama, California, Colorado, Idaho, Montana, South Dakota and Utah. The approval filing is planned for the Mississippi, Ohio and Texas over the next 60 days with additional states to follow in 2010.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090414/PH98853LOGO)

"Philadelphia Insurance Companies has provided health care under its professional liability Non-commercial benefit package deals," noted E. Howard Goldstein, Assistant Vice President of Management and Professional Liability Products. "The expansion in the market practitioner was a natural transition and represents a significant growth opportunity due to expansion of the scope of chiropractic. We will bring the same excellence in underwriting, claims processing and service that has characterized our work in each of our niche customers.Our ability to offer a one stop shop for business owners Cover (BOP), Crime, EPLI and other important safeguards also provide a strong asset, "said Goldstein.

Ratings: Catholic Knights, Direct General, Progressive Motor, Prime ...

AM Best Co. lowered the financial strength rating to 'B' (Fair) from 'B +' (Good) and issuer credit rating to "BB +" from "BBB-" from the Catholic Knights in Milwaukee, Wisconsin. And placed the rating under review with negative implications. "These actions reflect lower rating the Company in its unrestricted funds since late 2008 due to investment losses, both realized and unrealized," Best said. "Accordingly, the risk of the Society of capital adjustment, as measured by Best's Capital Adequacy Ratio (BCAR), remains low.Best also noted that Catholic Knights has been a sharp increase in below investment-grade securities "in 2009, mainly due to credit migration in its residential mortgage-backed securities portfolio, which may further weaken the Company's position in stock and its surplus funds not allocated in the future. However, these titles May be reassessed before the end of 2009 and the Company has the intent and ability to hold these securities over the long term.To reduce volatility and increase its unrestricted funds, the Company reduced its equity exposure and has a plan for capital improvements that includes the addition of capital from external sources. The assessment also recognizes that Catholic Knights has reported operating results significantly positive legal in the past five years while enjoying a long presence in the fraternal Roman Catholic community. "In addition Best said:" Catholic Knights has signed a letter of intent to merge with Catholic Family Life Insurance (Shorewood, WI) and expects to complete the merger in the second quarter of 2010.The combination leads to a membership base has increased and opportunities for synergies fraternal. In addition, Catholic Knights has professional experience of mergers with other Catholic fraternal organizations, gaining membership, increasing the financial capability and present another way to increase enrollment. However, the merger will also add a higher level of commercial mortgage balance at Catholic Knights "and will initially result in costs related to the merger, with projected savings from economies of scale from the following year.

Latest business property liability insurance news – 21st Century ...

I hope you enjoyed my recent posts. I thought I could do something different today and manage to find some pieces of info from around the WWW. These are some news articles and blogs that have been popular in recent weeks. Leave me your thoughts.

Product liability insurance coverage

Some insurance policies covering business include product liability insurance is linked to production and marketing of products to consumers. This type of insurance coverage protects the seller or manufacturer of any liability due to a malfunction or defects of the product claimed by the customer. Where this protection is a policy of liability insurance for the company, it also refers to products such as advocating completed operations coverage.

To understand the importance that this type of coverage in May to have your business, it is important to understand fully the consequences of not having. When you are not covered by this insurance, your company may face on the three types of claims:

1) Malfunction or product defunct - These claims may be due to errors or defects during the manufacturing process, making the final product or deceased dangerous to use. One of the most recent of these claims are lawsuits against Chinese manufacturers because of the use of hazardous chemicals in the production process.

2) design flaws - The claims of this type are caused by an early or even dangerous, dangerous product design. The infamous Pinto claims of Ford Motor Company has faced in 1970 are probably the most memorable examples of such claims.

3) Please Unreliable - These claims arise from mislabeling or instructions of the product which does not entirely prevent the potential risks and dangers of using the product. Consider the case of "coffee" made the McDonalds to understand.

What people from these claims is essentially an economic and compensatory damages, medical expenses and in some cases, the courts and legal fees. And if you think our company is relatively large can cope with these demands without serious inconvenience, think again, because there was that too many businesses whether large or small, which went down due to lawsuit like that....

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Look for a Product Liability Insurance | Homeowners Insurance

Each manufacturing company needs insurance on their products for protection. What happens if someone gets hurt from using your product? This is the exact reason why you want product guilt insurance.

The basics

Product liability insurance protects the manufacturer in the event that they get sued. With this form of insurance, the insurance agency takes care of any money that’s due to the plaintiff. By obtaining product guilt insurance, the manufacturer does not need to worry about any monetary loss that may be associated with a law suit.

SOHO product guilt insurance is different than the product guilt insurance that is offered to big companies, and with product guilt insurance, there are many provisions and restrictions that could apply. The complete package a company receives with their product guilt insurance will vary based on the product that they turn out. For example, an organization that manufacturers blankets won’t have to necessarily have the same form of coverage as a company who manufacturers circular saws. Product Liability Insurance

Obtaining Product guilt Insurance

Obtaining product liability insurance can be hard. Many insurance agencies don’t offer this type of insurance. You will have to do your research in order to find insurance agencies who do offer product liability insurance coverage for your type of business. However , a product guilt insurance broker will be able to help you by responding any questions that youcould have about this form of insurance. They also will be ableto determine what form of product liability insurance and the cover amounts you need. Product Liability Insurance

Insurance agencies or product liability insurance brokers will take several facets of your business into consideration in order to determine the form of product liability insurance that your business will require. They will look at the scope of business that you do. They will look at the kind of product that you manufacture. They can also take under consideration the outlets that you use in order to sell your product.

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