According to a recent poll from Insurance Journal, insurance agencies are increasingly shopping around for a new E&O, or Errors and Omissions, policy. Most insurance agencies stick with their agency E&O carriers for years, only changing when premiums go up. However, while premiums can certainly go up, price along shouldn’t drive the decision to move to a different carrier, according to insurance experts.
According to insurance experts, what many insurance agents want, and should look for in, an E&O policy is..
No matter what industry your client is in, as an employer they must investigate stay-at-work accommodations should a worker be disabled in any capacity that limits their availability to do their job. By not looking into reasonable accommodations, your client is opening themselves up to legal action from not only the employee in question, but also potentially the EEOC.
Just as with any other employee related issue, there are right ways and wrong ways to try to help a disabled..
Earlier this month, we asked what Employment Practices Liability Opportunities could be expected in 2015, noting that this past year has seen many changes in the healthcare landscape due to the Affordable Care Act taking full effect as well as lawsuits pending from poorly structured wellness programs.
One of the largest wellness program related lawsuit in 2014 was in the case of a company called Honeywell. The EEOC claimed that the company’s wellness program violated the Americans with Disabilities Act as well..
According to recent polls of insurance and reinsurance executives at the 2014 Property Casualty Insurers Assn. of America (PCI) Annual Meeting, including the third annual Guy Carpenter & Co. survey, cyber-attacks and terrorism are believed to be among the top emerging risks concerning the industry in the next year.
The Guy Carpenter & Co. survey was created to discover what reinsurance professionals believe are the key components and opportunities to profitable growth within the industry. 40% of the participants of the..
Would you believe that the average cost of responding to a cyber-attack for U.S. companies has increased 96% over the last five years to $12.7 million? This is according to a survey of 59 organizations conducted by the Ponemon Institute with Hewlett-Packard. This survey also found that it took about 170 days to detect a cyber-attack, and even an additional 45 to resolve it, which typically costs the company about $1.6 million. Bringing this number down will take..
This past year has seen many changes in the healthcare landscape, especially with the Affordable Care Act (ACA) taking full effect this year. With these changes has come questions and apprehensive from individuals as well as businesses. What employers want to know more than anything, is how do these changes affect their employment practices liability, and what liabilities can they expect to run into in the coming year?
One of the biggest trends seen nationwide with the implementation of the ACA..
As an insurance agent or broker, you’ve explained Errors and Omissions (E&O) policies, also known as Professional Liability policies, to clients in many different business sectors. You’ve likely explained why their specific business would need such a policy, and how nobody is immune to mistakes. The same can be said for those who work in the insurance industry.
Why would you need your own Errors and Omissions policy? First off, if for any reason your client..
When it comes to obtaining cyber liability insurance, business owners need to be aware of just what their policies entail, to ensure that they are getting appropriate coverage. For example, does your client need first-party or third-party liability coverage; or perhaps both? This will depend upon their industry and/or their specific niche market. This is not the only component of an effective cyber policy they should be aware of, however. The following factors are..
While it is certainly true that IT companies tend to have greater risk exposures than those that don’t work as closely with customer data, cyber liability risks can affect any industry, just in different ways. As a result of differing needs, insurance companies developed two separate types of cyber risk insurance to meet the needs of those in the IT business and non-IT companies.
First-party cyber liability coverage is the type of cyber risk protection that companies outside..
Chances are, your clients have a basic understanding of what Directors and Officers (D&O) Insurance provides them with; coverage for those employees of a business that serve on boards of directors or are in executive positions of their companies. Understanding this coverage is essential to obtaining the right policies for their business, but do your clients truly understand all the nuances of a Directors and Officers policy?
Understanding Directors and Officers definitions could help your clients make an educated decision when it comes to..
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