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wellness programs changeEPLI: Do Wellness Programs Need to Change?

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..



Posted:December 19, 2014

Top Emerging Liability Risks for 2015Top Emerging Liability Risks for 2015

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..



Posted:December 17, 2014

Evaluating Cyber Security Standards and Best PracticesEvaluating Cyber Security Standards and Best Practices

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..



Posted:December 10, 2014

What EPL Opportunities are Expected in 2015What EPL Opportunities are Expected in 2015?

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..



Posted:December 8, 2014

Why Do Insurance Agents Need Their Own E&O PolicyWhy Do Insurance Agents Need Their Own E&O Policy?

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..



Posted:December 5, 2014

What are the Components of an Efficient Cyber PolicyWhat are the Components of an Efficient Cyber Policy?

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..



Posted:December 3, 2014

Deciphering Between First and Third Party Cyber LiabilityDeciphering Between First and Third Party Cyber Liability

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..



Posted:November 26, 2014

Understanding Directors and Officers DefinitionsUnderstanding Directors and Officers Definitions

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..



Posted:November 24, 2014

Goals of Private Company Directors and Officers CoverageGoals of Private Company Directors and Officers Coverage

Last year, we published a post highlighting some of the reasons that Directors and Officers Insurance for private companies. Some of the reasons we cited were; providing financial protection from lawsuits due to bankruptcy, regulatory exposures, mergers and acquisitions, and new directors. These are not the only reasons it’s important for private companies to carry directors and officers coverage, however. D&O Insurance coverage serves various goals for privately held companies, even small ones.

One of the goals..



Posted:November 21, 2014

Errors and Omissions Risks Faced By Financial InstitutionsErrors and Omissions Risks Faced By Financial Institutions

For your clients in the financial sector, mistakes are rare and costly.  They could also damage the reputation of the financial institution they work for. Still though, even though mistakes are rare, they do happen. Nobody is immune to errors and omissions, and your financial sector clients are no exception.

Banks and other financial institutions are increasingly facing pressure to comply with regulatory mandates, strengthen balance sheets, and meet high customer demands. Accomplishing each of these objectives puts..



Posted:November 19, 2014

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