The dollar limits for both the exclusion of employer-paid adoption expenses and the tax credit apply "Per adoption effort." Therefore, if your adoption spans two or more years, you can only claim total credits of up to $10,960 over all the years that you paid expenses. If your AGI, as...
A man who was severely injured when his co-worker fell asleep at the wheel of a company vehicle cannot recover more from his employer's $1 million auto insurance policy than the $20,000 minimum required by financial responsibility laws.Reversing a ruling by the Carroll County Circuit Court, the Court of Special...
The purpose of this paper is to inform the development of rural policy by analysing the available evidence on productivity in rural areas. The Government's role in rural areas is to support enterprise; tackle rural social exclusion; provide fair access to services; and protect the natural environment for this and...
Byline: Sharon M. Stecker and Eric Harrison Toxic mold claims have become a major workplace issue. Corporate insurance and risk managers are well advised, therefore, to take protective measures against mold infestation. The following steps can h Byline: Sharon M. Stecker...
Byline: Dave Lenckus Virginia Polytechnic Institute and State University has $2 million in general liability insurance from a state self-insurance pool to respond to any wrongful death claims it might face, said Fred Weaver, director of risk manag Byline: Dave Lenckus ...
The Immigration and Nationality Act INA spells out a strict set of admissions criteria and exclusion rules for all foreign nationals, whether coming permanently as immigrants or temporarily as nonimmigrant. This report opens with an overview of the grounds for inadmissibility and summarizes key legislation enacted in recent years. The...
In a recent report, the Joint Committee on Taxation has recommended severely limiting the amount of employer-provided overseas housing costs eligible for exclusion from U.S. income taxation. For 2005, the proposed maximum housing exclusion would be $11,200. Over the last few years, limitations on the section 911 exclusions have been...
This paper deals with the role of insurance from catastrophic events due to causes that were thought by the industry to be of sufficiently low probability that they were not cause for concern. Traditionally, property-casualty insurance provided protection only from named causes, but over time has evolved into contracts that...
The plight of the star-studded Boards of Directors of Enron, Worldcom, HealthSouth, Tyco and many other companies caught in crosshairs of the federal and state prosecutors, and the organized plaintiffs' lawyers, have elevated the consciousness of companies and corporate board members. The typical D&O policy covers directors and officers for...
NEW YORK-Twenty-two property insurers are facing a $3.55 billion total loss from the destruction of New York's World Trade Center, only weeks after the coverage was bound and before policy wordings had been finalized. A wide array of big-name Euro NEW YORK-Twenty-two property...
Ruling in Prudential Prop. & Cas. Ins. Co. v. Lillard-Roberts, CV-01-1362 (D. Or., Feb. 7, 2003), a Federal district court has held that mold resulting from water leaks is not covered as an ensuing loss under a homeowners' insurance contract. Based on a stipulation that the water leaks were caused...
The question this article tries to address is can an insurer insert exclusion into a liability insurance policy after a coverage claim is made, and then rely on that exclusion to deny coverage. According to the insurers, the Statutory Form Exclusion should be imported into those policies, and the policies...
It is important that agents become familiar with any exclusions and limitations in the business property and liability forms and coverage parts that are used in the development of package policies. This can minimize the possibility of overlooking an exposure that should be discussed with the insured. The article provides...
One of the criticisms of ISO 9001:1994 was that it focused on the organization rather than on the customer. The 1994 version's basic contract review requirements remain the same in ISO 9001:2000, but the revised standard has new requirements that focuses on "the voice of the customer." This article includes...
Byline: Dave Lenckus When American International Group Inc. and other insurers renew their own directors and officers liability insurance in the months ahead, they will find D&O underwriters-including AIG-getting tougher on their peers, accord Byline: Dave Lenckus When American International...
Recently, the New Mexico Court of Appeals held that the intentional act exclusion and the business risk exclusion do not bar indemnity of a computer repairer’s liability to a customer for the loss of the customer’s data. Computer Corner, Inc. v. Fireman’s Fund Ins. Co., 2002 N.M. App. LEXIS 37...
The article states that America is at war. The entire world reacted with shock and horror in response to the September 11 terrorist attacks. The immediate off-the-cuff reaction of most knowledgeable insurance professionals was that the attack was not an event intended to be excluded by war risk insurance exclusions....
Shareholder litigation accounts for 47% of all directors’ and officers’ liability cases filed against executives of for-profit organizations, 16% against executives of privately held companies, and 1% against executives of not for profit companies in the United States. More cases are pleading more dishonest and fraudulent acts of directors and...
The Internal Revenue Service has issued final regulations on the exclusion allowed for gain on the sale of a principal residence. The final regs modify the rules contained in temporary regulations with respect to partial home-sale exclusions. They a The Internal Revenue Service has issued...
Illinois and Florida insurance regulators are raising questions about the potential for abuse by insurers of new exclusions for Year 2000 computer-related exposures recently introduced by the Insurance Services Office. Dick Rogers, Illinois' ass Illinois and Florida insurance regulators are raising...
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