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Supporters of the measure say it is essential to avoid an economic calamity early next year, when many insurance policies come up for renewal, by making sure that policies contain adequate coverage for damages from terrorism attacks.
The insurance industry is wary of some of the proposals to require gun owners to buy liability coverage — and particularly of bills, like one that was filed in New York that would require coverage for damages resulting not only from negligence but also from "willful acts".
A Pierre Debbas, a Manhattan real estate lawyer, said that while condominium bylaws typically require all unit owners to have a specific amount of coverage for damages sustained by others, it is common for unit owners to require rental tenants to have their own renter's insurance.
The compensation scheme provides national coverage for damages caused by natural hazard-induced disasters, but also includes a preventive component.
As an added insurance, EatWith and VizEat offer some form of insurance coverage for damages or foodborne illness, the specifics of which vary by region.
Previously, Uber and other ride-sharing companies, such as Lyft, provided $1 million of liability coverage for damages that exceed a driver's personal insurance limits.
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In insurance parlance, "hazard" means coverage for damage to the structure caused by fire, smoke or vandalism.
Atlantic Mutual charges $22 to increase the liability coverage for damage to another driver's car to $50,000 -- from the $10,000 minimum -- while Erie charges $24.
(Oddly, though, there may be coverage for damage to trees and shrubs damaged by fire or vandalism, according to the Institute).
Instead, two drivers with similar records have paid the same for liability coverage (for damage and injuries to others) and personal injury coverage (for injuries in the policyholder's vehicle), whether they are driving a Chevrolet Suburban or a Ford Escort.
He told the crowd that Sidley Austin's insurance policies included tens of millions of dollars worth of coverage for damage to people and facilities, and $1.5 million for the art collection alone.
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