Central bank head, Elman Rustamov, said that the nation is planning to remove
insurance limits on bank deposits.
NBTY Inc., Ronkonkoma, NY, following in the footsteps of Whole Foods Markets and Walgreens, has begun enforcing higher liability and other
insurance limits. The new requirements rolled out in December 2012, and NBTY may make modifications to make them more practical, especially for smaller suppliers.
"Customers of banks would not have gotten hooked on the opium of higher deposit
insurance limits, and banks would not bear the burden of permanently higher deposit insurance costs," Isaac says.
Most contracting parties include "minimum"
insurance limits that must be carried while the contract remains in effect.
"Normally they're looking for
insurance limits of around $1 million in coverage, while some are looking for higher limits," said Treend.
The Brownyard Group of Bay Shore, New York, has expanded its Brownguard program for security guard firms to include
insurance limits of up to $5 million.
But, one of the critical issues underlying this question is the risk of diluting your camp's liability
insurance limits when many organizations are included as Additional Insureds.
finds that companies reduced their liability
insurance limits by an average of 6 percent in 2002.
Firms who faced large losses because of a liability claim were more likely than others to have increased their liability
insurance limits in 1999, according to a study of 2,181 companies done by Marsh Inc., one of the world's largest insurance brokerages and risk advisers.
For such reasons, the Board has concluded that, should the Congress decide to lower deposit
insurance limits, a meaningful transition period would be needed.
Global Banking News-January 20, 2016--American International Group enhances global commercial property
insurance limitsInsurance limits for personal property, including valuables such as jewelry and free art, also are frequently inadequate.
