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D&O Risks Not All Data Breaches Fall Under Cyber PoliciesWhile data breaches have historically been deemed a cyber-risk liability, more and more chief information officers (CIO) are being prosecuted for damages related to these breaches. Due to the increased threat of liability as a result of cyber-attacks, remind your customers of the Directors and Officers Insurance Risks involved in your client’s coverage.

The recent lawsuit against CIO of the US Office of Personnel Management Donna Seymour is serving as a platform for transferring liability from cyber insurance to directors and officers..



Posted:July 15, 2015
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Are Law Firm Malpractice Risks GrowingOver the past several years, there has been a steady increase in malpractice claims against attorneys. While these figures continue to increase each year, some resulting in immense damage loss, it is crucial to protect your clients with a Professional Liability for Attorneys  policy.

A survey by Ames & Gough indicated the trend of malpractice suits by polling nine professional liability lawyers at insurance companies that provide coverage to an estimated 80 percent of the top law firms. The survey discovered that five insurers experienced similar..



Posted:July 13, 2015

Key Cybersecurity Concerns for Accountants Cyber risks are more prevalent than ever in today’s digitized society. What was once categorized as an IT issue in this industry, cyber-attacks are becoming more of a focal point for accountants and board members alike. As these exposures are becoming more and more of a threat, your clients need to review their Accountant Privacy & Network Security to ensure they have the protection they need.

According to the Institute of Interamerican Accounting Association (IAA) survey “Pulse of the Profession,” 65 percent of almost 1,900..



Posted:July 6, 2015

Insurance Acquisitions ACE Acquiring Chubb in $28.3 Billion DealPerhaps one of the largest Insurance Acquisitions this year, ACE Limited board of directors has approved the acquisition of The Chubb Corp. for $28.3 billion in stock and cash, also approved by the Chubb board of directors. The two firms agree that this merger will result in complementary business, skills and distribution, plus better growth and earnings than the two companies separately.

The combined company, using the Chubb name and location, had total shareholders’ equity of almost $46 billion and cash, investments and..



Posted:July 1, 2015

Can Reporting Employee Crime Lead to Lawsuits?Commercial crime can come in many forms; your clients may be the victim of a data breach, or even internal employee theft. In addition to ensuring they are financially protected with an adequate Commercial Crime Insurance Policy, they may also be utilizing another insurance policy, their Employment Practices Liability policy. How could a company director be held liable for an employment practices issue..



Posted:June 29, 2015

Identifying the Biggest Threat to BankingFinancial Institution Directors have many risk management considerations to make when it comes to protecting their business and the finances of their clients. This starts with identifying what their biggest threats are. According to the Federal Trade Commission, 10 million identity theft incidents occur every year, leaving the victims at risk of losing money and sensitive information.

Large data breaches have topped headlines nationwide, however 30% of all cyber-attacks are targeted at small businesses, including financial institutions. One..



Posted:June 26, 2015

What’s Causing the Rise in Architect Liability Premiums?Insurance broker Ames & Gough recently released a report that revealed a large majority of Architect and Engineer insurers are anticipating modest increases in premium rates this year. This will make 2015 the third consecutive year that Architect Liability premiums have risen. Why is this?

According to a recent Insurance Journal article, insurers are keeping a close eye on the factors that are driving up claims costs, and thus increasing premiums. While claim frequency remains relatively unchanged, the..



Posted:June 24, 2015

Are we seeing the Beginning of the End of the ACAThe Affordable Care Act (ACA) has seen more than 50 repeal attempts since its implementation; both from the house and senate. A recent Supreme Court case, the 2012 NIFIB V Seleblius upheld the rules and regulations set forth by the ACA, despite the heavy opposition at the time. However, a new Supreme Court case has come to light; the 2015 King V Burwell case. While many expect it to still rule in favor of the ACA, business owners and risk..



Posted:June 22, 2015

 

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Job Title: Controller

Supervisor: Mike Smith

Hours: Monday – Friday; 8:30 am – 5:00 pm in Franklin Lakes, New Jersey

Summary:

Immediate opening for an experienced financial controller to join a growing professional/management liability insurance brokerage located in Franklin Lakes, NJ.  This position is a hands on position to oversee the company’s accounting department for a growing multistate insurance brokerage operations.  The successful candidate will be responsible for the accounting, financial reporting, multistate tax and budgeting operations.  This position is located in Franklin Lakes, NJ..


Posted:June 22, 2015

Too Young Insurance Agent ReputationIn our previous blog post, we discussed the stigma that exists around insurance agents in their 20’s; that they are “too young” to really understand the complex business and risk management needs of their clients. We looked at a few ways to potentially combat this stereotype; but those aren’t the only strategies that are out there. Brent Kelly, insurance agent and contributing writer to Insurance Business America, recommends the following approaches to Building Your Insurance Agent Reputation:

Continue Your Education. Kelly suggests broadening your insurance know-how..


Posted:June 19, 2015

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