Practical perspectives for contemporary legal challenges.
In Part 1, we explored what warranties are, how warranty claims work, and the relevant legal framework under the Uniform Commercial Code. Now that we understand the mechanics of warranties, we can examine why they are an attractive option for captive insurance programs. Administrative Benefits of a Warranty Program In a fronting program, the insured …
Continue reading “Understanding Warranty Risk: Why Warranties Belong in a Captive – Part 2”
Commercial auto, workers’ compensation, and general liability insurance receive the lion’s share of attention from the captive marketplace. This focus is understandable. Commercial auto and workers’ compensation insurance are not only legally mandated but often contractually required. Liability insurance (CGL) indemnifies the insured against the most ubiquitous cause of action – negligence, making it a …
Continue reading “Understanding Warranty Risk: How Warranties Work – Part 1”