Stay informed about the trends in the P&C and benefits industries.
A mixed professional lines insurance market presents some challenges, but plenty of opportunities, as well. Learn more about the state of the Professional Lines and Cyber market in our Q2 report.
A professional services exclusion is found in most private company D&O policies, as well as in D&O policies issued to publicly traded companies that provide professional services, such as banks and financial advisory firms. Seemingly minor differences in the wording of the exclusion's policy terms have caused numerous claim denials. Learn what you can do to protect against insureds being caught by surprise by a carrier's denial based on an expansive reading of an exclusion.
In 2017, the issue of sexual harassment – especially in the workplace – gained greater awareness as accusations of harassment by high-profile individuals were constantly in the news. In many cases, sexual harassment lawsuits seriously impacted businesses and their respective insurers. Employment Practices Liability Insurance not only provides protection against employee lawsuits, but can also help your clients mitigate their sexual harassment risks.
Each year we produce our State of the Specialty Market, digging deeply into key segments of the marketplace. Our goal is to put information at your fingertips that you can use to more effectively target markets and grow your business. While the state of the property market is in flux, the Professional Lines space is less impacted by the recent catastrophic events and we are pleased to present our recap of this unique business segment.
The False Claims Act (FCA) is a law that imposes liability on persons or companies who have defrauded government programs and is the primary litigation tool used in combating fraud against the government. These tips and trends will help you navigate the changing healthcare landscape under the FCA.
As Cyber exposures continue to evolve, it is increasingly important to understand the risks, the potential costs and which type of insurance policy responds.
Recent court rulings, have extended the Americans with Disabilities Act (ADA) to apply to websites that are ‘heavily integrated’ with and serve as a ‘gateway’ to a physical stores/services. As a result, companies are now finding themselves targets for ADA claims based on the inaccessibility of their websites and media by those who are disabled. Learn how you can protect your clients.
The manufacturing industry contributed to over 12% of the U.S. economy in 2015, and this number is expected to increase. While new growth in production and sales is a positive development for businesses, it may also open the door to an elevated and often misunderstood insurance risk: financial damages not caused by bodily injury or property damage.
In the event of a cyber attack, the Directors & Officers (D&O’s) of a company are often held liable. D&O's should ensure they have comprehensive insurance coverage as well as mitigate their cyber liability exposure with these three steps.
The financial markets' crisis and the failure of major banks, securities broker/dealers and insurers together with an upswing in cases of fraud has meant that investors are profoundly concerned with the protection of assets they have entrusted to others. Fortunately, there are statutory bodies and insurance policies in both the US and Canada which have been created to address these concerns.
In response to the masses becoming more aware of cyber-attack techniques, hackers have countered with more sophisticated attacks, such as CEO Fraud, also known as Social Engineering Fraud. How we do we address this increasing risk as an industry?
Despite the heavy burden on employers, since its inception, OSHA's programs and policies have dramatically improved employee safety. It's important that employers know about OSHA requirements and exemptions, which could make or break a citation defense.
With the economy on the rebound, carriers have started to again offer multi-year policies for banks, but on a selective basis. Deciding if a multi-year policy makes sense for your insured requires careful consideration, and they can provide many benefits over traditional annual policies.
Not licensed. Insolvency. No guarantee of claims payment. These words on a policy can cause concern to insureds, especially those with little to no experience with the excess and surplus lines marketplace. Understanding the reasoning behind these disclosures will help you put your clients at ease.
The most significant liability threat for companies after a data breach could be from their business partners, including banks and payment card processors. This article details what merchants and their brokers need to know to ensure their coverage matches their needs and expectations.
Looking for ways to limit the Insured vs. Insured exclusion in your client's D&O policy? By considering the amendments recommended here, you may be able to negotiate broader coverage for your client.
Directors & Officers insurance is designed to protect the personal assets of the directors and officers of a company. So what happens when a board member wants more personal protection than what is provided through a typical D&O policy?
With the renewal of the Terrorism Risk Insurance Act (TRIA), it is a good time to look at Management Liability and Professional Liability lines to discuss how terrorism in general can trigger coverage.
There is a tremendous potential risk for merchants when it comes to the fines and penalties associated with data breaches – not to mention the public relations nightmare that could follow. Many insurers are hesitant to provide the capacity that is needed for the exposure that exists. Are your clients aware of the Cyberliability solutions that will cover them in the event of a breach?
When it comes to cyber-crime and massive data breaches, there's one group that has been relatively overlooked when it comes to cyberliability - nonprofits. How would an organization with limited capital protect its infrastructure in the event of a breach?
At a time when many borrowers are taking advantage of record-setting low interest rates by refinancing their loans, regulatory changes are causing lenders to be more cautious than ever as they transfer the risk of unpredictable events to insurance carriers. This article will look at some examples of lender requests and possible ways to counter them.
Most community banks improved their performance in 2013, but many obstacles – including FDIC lawsuits, Basel III, and the Dodd-Frank Act – continue to cause disruptions among D&O markets, which are still recovering from the hits taken during the economic downturn.
When an employer shifts its employees to a leasing agency or Professional Employer Organization, what happens to the employer’s Employment Practices Liability exposures? Without careful consideration, this transition can create coverage gaps and other complications, making consultation with a financial services professional an important part of the transaction to ensure clients are properly covered during this change.