In today’s litigious society, the pressure is especially high on risk managers to anticipate areas in which professional liability may be a concern and mitigate them properly. A risk management checklist is a helpful tool in any type of project planning, but can be markedly advantageous for insurance agents who specialize in professional liability insurance coverage.

A risk management plan, at its core, is the identification, prioritization, measurement and mitigation of various risks to an organization. When developing an effective risk management plan, a risk management checklist is incredibly useful to speed up and streamline the process, allowing the agent to..

Posted:December 29, 2018

By Drew M Smith

2018 was the first year of PL Risk’s charity group, PL Risk Helping Hands. Over the course of the year, our employees participated and raised for a variety of different local and national organizations. Some of the highlights include:

  1. Raising $15,000 for the opioid addiction foundation Shatterproof, one of the largest group contributions. In addition, we participated in a charity walk in New York City.
  2. Backpacks with toys and other necessities for kids were made for children to support Operation Underground Railroad, a group dedicated to fighting human trafficking.
  3. A variety of..

Posted:December 21, 2018

By Drew M Smith

Facebook has increasingly been the hunting ground for those looking to steal a user’s personal data. As many people use the site, it creates a fertile environment for data mining. This is not helped by the results of one study regarding protecting identities online. 64% of those polled by Experian believed in not securing their information on Facebook or believed that it was too much of a hassle, despite nearly 70% of adults using the social media site.

As a result, many scams have cropped up that can and will..

Posted:December 10, 2018

By Drew M Smith

PL Risk Advisors, Inc. will be attending the PLUS Winter Social in New York City on December 12th, from 5:30 to 7:30 at the Capital Grill. Attending will be CEO Mike Smith, and Professional Liability Brokers Christine DeFelice, Paul Hacker, and Mark Bradway.

We’ve been attending this social event for a number of years now,” Mike said. “With the holidays in full swing, this gives a good opportunity to see our fellow professionals in a less serious setting and we hope to continue our relationships with them in the..

Posted:December 7, 2018

By Drew Smith

Over the weekend, Marriott, one of the world’s largest hotel chains announced a significant breach into their network. Over 500 Million accounts were potentially compromised and the damage could be even worse as the investigation continues.

The source of the breach comes not from Marriott itself but Starwood, the company that was acquired by the chain in 2016. On September 8th, a security tool alerted the chain that they were compromised. After investigating the breach, it was discovered that 500 million accounts mostly from the Starwood chain hotels were hit..

Posted:December 7, 2018

"Fiduciary duty" is a term that describes a relationship between two parties in which one party - designated as the fiduciary - is authorized to act solely in the interest of the other party, known as the principal. The fiduciary owes legal duty to a principal, and should be extremely careful in ensuring that conflict of interest does not arise between the fiduciary and his or her principal. Under the legal system, fiduciary duty may be established in a variety of relationships, including but not limited to:

  • Trustee and Beneficiary - For situations such as estate arrangements and implemented trusts,..

Posted:November 30, 2018

By Drew M Smith

PL Risk Advisors announces their attendance to the PLUS Global Convention in San Diego from November 5th to the 7th. Attending the conference will be Partner and Executive Vice President of Sales Javier Gonzalez, who will be a guest panelist speaking on Insurance Agents Brokers E&O for the coming year.

Gonzalez had this to say about his inclusion on the panel. “Axis Insurance Services and PL Risk Advisors are always looking for the biggest issue concerning E&O. This panel will allow us to discuss our findings with our peers and..

Posted:October 30, 2018

Attorneys and lawyers are some of the leading authorities on legal claims, but they are not immune from having legal claims brought against themselves. In fact, professional liability claims, also commonly called malpractice claims, against attorneys have been steadily rising over the past 30 years. Data from the American Bar Association (ABA) suggests that a 75 percent increase in professional liability claims against lawyers since 1985. Given these numbers, it’s common belief that nearly all attorneys, regardless of experience, are highly likely to find themselves hit with a professional liability lawsuit at least once over the course of..

Posted:October 26, 2018

By: Drew M Smith

On October 14th, PL Risk Helping Hands participated in the New York Shatterproof Rise Against Addiction 5k Walk/Run event. The team helped raise over $15,000 towards helping to bring the stigma of addiction to the light, one of the largest team contributions of the over $600,000 that the participants for the event brought in.

Participating in this walk were PL Risk Helping Hands team members Christine DeFelice, Joan Pandorf, Drew Smith, Dylan Kelly and CEO of PL Risk Mike Smith. Their family and friends also joined in on the event...

Posted:October 16, 2018
Posted in: Events

By Drew M Smith

The Department of Homeland Security (DHS) in conjunction with the National Cyber Security Alliance (NSCA) is celebrating their 15th iteration of National Cyber Awareness Month in October. The initiative is to raise awareness of how much the internet plays a major role in our lives and what could happen if we don’t safeguard ourselves to outside cyber threats.

In the last year, multiple wide scale hacks against groups such as Facebook and Reddit understandably made many people nervous. The month of October is all about taking a step back and..

Posted:October 15, 2018

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