In the latest Plexus Property & Casualty Newsletter, we explore the question of who pays when a boat tossed ashore during a storm lands on your property.
News item: Row, row, row your boat, gently down ... the lawn?
Scores of boats swept ashore during Hurricane Irma (not pictured here) remain stuck where they are. Some are now sitting on the property of homeowners who don't own the boats, the Miami Herald reports. The question of whom will pay to remove some of these once-seafaring vessels remains unsettled, leaving the boats to decay where they sit. (Some boats are attracting rats, as the Herald notes.) From a business perspective, your property insurance will generally cover debris removal, though sublimits apply. Have coverage questions? We can help. Contact Plexus Senior Claims Analyst Joni Gould at 847-307-6140 or firstname.lastname@example.org.
Electronic driving records soon required for many fleet drivers
By mid-December, many trucking firms and other commercial drivers must begin complying with federal regulations requiring electronic logging devices (ELDs) to be used instead of the paper log books that were long a fixture in the trucking industry. The Federal Motor Carrier Safety Administration offers numerous compliance resources on the rule, which fully takes effect in 2019. For more information on fleet risk management, contact Plexus P&C Client Executive Jim Jenkins at 847-307-6112 or email@example.com.
In M&A deals, don't forget the cyber coverage
In case you were on the fence regarding cyber insurance, here’s one more reason to consider it: if you ever look to sell your company, buyers might look kindly upon the coverage, for the insurance “gives some comfort that in the event of a breach, there is some resource available to respond to a significant breach,” Dan Cotter, an attorney for Chicago law firm Butler Rubin Saltarelli & Boyd LLP, told TheStreet.com for a recent story on cyber coverage. Plexus offers a wide range of cyber and M&A expertise; for more information, contact P&C Practice leader Mike Mann at 847-307-6111 or firstname.lastname@example.org.