Political risk insurance (PRI) is insurance that protects businesses from loss due to a variety of political risks, such as expropriation, confiscation, forced abandonment, and political violence. PRI is typically purchased by companies that invest in or do business in developing countries, where the risks are considered to be higher. The insurance can cover both … Read more
An administrative services only (ASO) arrangement is a type of self-insurance in which a company contracts with an insurer or third-party administrator to handle claims and other administrative services, but the company assumes the financial risk for its employees’ health care costs. ASO plans are usually only available to large companies that are able to … Read more
An alternate employer endorsement is an insurance rider that provides coverage for an employee who is injured while working for a company other than their regular employer. This type of endorsement is often found on workers’ compensation and liability policies. What is US Longshore and Harbor workers Act? The Longshore and Harbor Workers’ Compensation Act … Read more
The Carmack Amendment is a federal law that governs the liability of common carriers transporting goods in interstate commerce. The law establishes a uniform set of rules governing the rights and obligations of carriers and shippers with respect to the loss or damage of goods in transit. The law is named after its sponsor, Representative … Read more
