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Understanding Commercial Insurance in the Cannabis Industry: The Role of Master Service Agreements in Mergers and Acquisitions
The cannabis industry is rapidly evolving, with mergers and acquisitions (M&A) becoming increasingly common. These activities present unique challenges, particularly in acquiring adequate commercial insurance. A key yet often overlooked aspect of these transactions is the Master Service Agreement (MSA), which defines the relationship between merging entities and ensures insurance
Navigating the Liquor Liability Insurance Market in 2024
If your business sells or serves alcoholic beverages, you understand the importance of liquor liability insurance. This coverage protects you from costly lawsuits and damages if an intoxicated customer causes harm to themselves or others. However, the liquor liability insurance market is undergoing significant changes in 2024 that could impact
Employee or Independent Contractor? Understanding the January 9, 2024 DOL Rule and How it Impacts Your Business’ Insurance Needs
On January 9, 2024, the Department of Labor (DOL) introduced a rule designed to clarify the distinction between employees and independent contractors. This development not only affects employment classifications but also has significant implications for insurance coverage. This post explores the key components of the DOL rule and its impact
Mom!! Why Have My Commercial Auto Rates Increased So Much?
What is it about human nature that makes us feel better when we understand why something has gone wrong? From the moment we learn to talk, we ask, “But why?” It’s no different when unexpected events affect us as adults. If you’re responsible for managing your company’s commercial insurance, you’ve
Large Construction Projects: OCIP or CCIP?
For owners of large construction projects, deciding between an Owner Controlled Insurance Program (OCIP) and a Contractor Controlled Insurance Program (CCIP) is a critical choice with significant insurance and risk implications. Here are some key considerations to help make an informed decision: Key Considerations 1. Cost ControlWith an OCIP, the
The Growing Importance of Cybersecurity and Cyber Liability Insurance: A Look at MGM’s Incident
In today’s digital landscape, cyber-attacks are becoming more frequent and sophisticated, prompting businesses to elevate their cybersecurity efforts and consider cyber liability insurance. Recent breaches faced by major companies like MGM Resorts International and Caesars Entertainment highlight the gravity and unpredictability of these threats. MGM’s Cyber Breach: A Wake-Up CallOn
Protective Safeguards in Commercial Property Insurance: A Guide for Insureds
Commercial property insurance is an essential safeguard for businesses, protecting assets and ensuring continuity in the face of unexpected disasters. As a business owner, it’s crucial to understand the protective safeguards included in your insurance policy. These safeguards are designed to mitigate risks, reduce potential losses, and promote responsible practices.
Liquor Liability for Tasting Rooms
At Swarts Manning Spirits, we specialize in providing commercial insurance expertise and risk mitigation for the winery, brewery, and distillery industries. The spirits industry faces unique risks that require supplemental coverages beyond standard general liability, property, commercial auto, workers’ compensation, and umbrella policies. Specialized coverages such as crop protection, contamination
Cyber Security: Do You Decline Cyber Insurance Coverage Despite Acknowledging The Growing Risk?
Does it surprise anyone that cyber security is such a hot topic in our digital world? The Internet of Things (IoT) describes the network of physical objects embedded with sensors, software, and other technologies that connect and exchange data over the internet. According to Statista, there are approximately 15.14 billion
Understanding the Property Insurance Crisis in California: Navigating the Storm
In recent years, California has been grappling with a pressing issue that affects commercial and habitational real estate investors, homeowners,
Employment Law Update: New Overtime Regulation from the Department of Labor
On April 24, 2024, the Department of Labor (DOL) implemented significant changes to the regulations governing overtime exemptions for certain
ABC’s of Insurance for Contractors: What Policies Do You Really Need and Why?
Embarking on a journey as a new contractor is exciting but comes with its challenges. Among the most critical is
Understanding Commercial Insurance in the Cannabis Industry: The Role of Master Service Agreements in Mergers and Acquisitions
The cannabis industry is rapidly evolving, with mergers and acquisitions (M&A) becoming increasingly common. These activities present unique challenges, particularly
Navigating the Liquor Liability Insurance Market in 2024
If your business sells or serves alcoholic beverages, you understand the importance of liquor liability insurance. This coverage protects you
Employee or Independent Contractor? Understanding the January 9, 2024 DOL Rule and How it Impacts Your Business’ Insurance Needs
On January 9, 2024, the Department of Labor (DOL) introduced a rule designed to clarify the distinction between employees and