ABA Section of Business Law
Seeking cover in the Age of Litigation
Business insurance: What you need to know
By GARY LOCKWOOD
The author lays out the extent of tort claims against companies
in the United States, which makes it very easy to see the need for business insurance.
Since litigation involving business issues if one of the largest subsets of all
litigation, it’s necessary to transfer the risk onto the shoulders of the insurers.
This article is the overview for a minitheme on business insurance.
Protecting the professional
Brush up on E&O insurance
By DAVID A. BAUGH and ELLEN L. FLANNIGAN
This is all about professional liability insurance, or
"errors and omission" insurance. Any lawyer dealing with a client concerned
about being sued for what they did in their professional capacity needs to be familiar
with this subject. If you know all about this subject, then you’ll be able to explain
"tail coverage."
The armor-plated board
Yes, D&O coverage needs to be negotiated
By CAROLYN H. ROSENBERG and DUANE F. SIGELKO
The authors discuss how to get the most out of D&O liability
insurance protection. They point out that the largest percentage of claims are employment
related and that the insurance market is "soft," thus amenable to changes in
terms. Topics discussed include: conduct covered, policy exclusions, definitions of
claims, etc. The main point is: What can and should be negotiated?
Can you risk a recall?
Insuring against product liability
By MICHAEL R. LEMOV and JASON I. HEWITT
What is the proper role of insurance in the context of a
company’s crisis-management plan? Maybe the company you’re advising should
invest in product-recall insurance. The author looks at risk, prevention and value.
Copywrong
Insuring against intellectual property losses
By CAROLINE W. SPANGENBERG and J. STEPHEN BERRY
What should a company’s insurance policy regarding
intellectual property cover? How do claims arise from advertising? Among the authors’
advice: Don’t accept at face value comments from brokers that a policy provides no
protection.
To restrain or not to restrain. . .
What’s the best way to keep your staff from changing
sides?
By DAN BLOCK
You may have heard of "no switching" agreements to keep
employees from going over to the competition. The problem is that these agreements bind a
party (the employee) who is not a party to the agreement. The author suggests that the
best answer to this problem is to have noncompete agreements negotiated with your
individual employees.
Tweaking arbitration
Can the RUAA fill the gaps in the FAA?
By PAUL J. DUBOW
The question is whether the Uniform Arbitration Act should be
revised. The author discusses why there is a UAA, considering the fact that the Federal
Arbitration Act exists. The revised UAA (RUAA) is proposed to fill some holes in the FAA.
For a business lawyer interested in the effect of arbitration on his/her practice, this
article explains the state of arbitration and what changes are being proposed to make it
work better.
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