The Owners' Manual | Issue 21 | Spring/Summer 2021

LEGALTIP Insurance Basics

On April 28, Julia O’Brien did a Lunch with Legal focusing on insurance basics where she broke down the insurance BL has and the insurance BL asks for from our subconsultants.

Below is listed out what BL has as well as a few things clients typically ask for.

• $1,000,000 per occurrence/$2,000,000 aggregate. • Protects us from a third party being injured on our property. Commercial General Liability

Valuable Papers

• $500,000 in coverage. • Protects all of BL’s paper files.

Cyber Insurance

Automobile

• $5,000,000 in coverage.

• $1,000,000 combined single limit. • Covers property damage and bodily injury resulting from employee’s driving on BL time. • Covers all vehicles – BL’s, rental cars, personal vehicle – BUT – if you are driving a personal vehicle, your personal insurance is primary and BL’s is secondary and damage to your personal vehicle is NOT covered by BL insurance.

Professional Liability

• $5,000,000 per claim/$8,000,000 aggregate. • Covers BL from claims made based on our negligent acts, errors and omissions. • Covers employees as well as BL. • Includes Pollution coverage.

Waiver of Subrogation

• This is allowed under both our CGL/Auto policies and Professional Liability policy. • Through this waiver, the insurance company foregoes its right to “step into the shoes” of the insured to collect against the party who may be liable for the claim. • By waiving this right, insurance companies ensure that projects move forward expeditiously. • Only on our CGL and Auto policies can the client, its successors and assigns, lenders, contactor, subs, etc. be added as additional insureds. • They cannot be added on ourWorkers’ Compensation policy nor on our Professional Liability policy. Additional Insured

Umbrella

• $15,000,000 per occurrence and aggregate. • Sits on top of CGL and Auto. • Can usually use the umbrella to achieve higher limits if client requires higher limits on the CGL.

Worker’s Compensation & Employer’s Liability

• Worker’s Compensation coverage is no-fault coverage for employees who are injured on the job. • Coverage is per state statute. • Employer’s liability protects BL from claims filed by employees, family members or third-parties for employment-related injuries.

If you have any questions regarding the information above, please contact the Legal department.