California Varieties of Risk Part 3 - Liability Risk

To be at all active in a modern society, you cannot avoid liability risk. No matter what you do for a living or how much or how little you own, if you’re a mentally competent adult of majority age, you can be held liable for any damage or injury you cause to another.

This course first covers the general liability we all face for any bodily injury (including disease), property damage (to tangible or intangible property), or personal injury (to another’s rights or reputation). We explore the sources of liability—tort law, statutes, and contracts—and the type of insurance developed to address them, emphasizing that the absence of insurance for a type of liability does not imply that there is no risk.

The course then covers two types of liability—professional liability and management liability—which apply only to individuals with specialized training or in positions of controlling authority in organizations. Insurance for these functions is structured and provided quite differently from insurance for general liability risks. The rapidly growing field of “cyber” insurance provides a combination of approaches for addressing evolving risks arising from online activities.

Our Topics include

• Standards of tort liability
• Intentional, strict, statutory, and contractual liability
• Insurance and Liability
• Premises and operations risk
• Products and completed work risk
• Insuring for general liability risk
• Personal liability insurance
• Personal auto insurance11
• Personal auto limits12
• Aircraft, watercraft, and non-road vehicles
• Personal umbrella liability
• Commercial liability insurance
• Commercial general liability limits
• Businessowners (“BOP”) policies
• Workers compensation
• Commercial auto insurance
• Pollution coverage
• Umbrella/excess policies
• Professional liability
• Management liability
• Specialty Lines Insurance
• "Claims made" and "occurrence" triggers
• "Cyber" liability
• "Silent cyber" coverage