Mike Smith, CEO of Axis Insurance Services and PLRisk Advisors, will be participating on an distinguished panel at the 8th Annual National Errors & Omissions Insurance ExecuSummit taking place at the Mohegan Sun Resort & Convention Center in Uncasville, Connecticut, on June 17 & 18, 2014. He will be a guest panelist on the topic, “Insurance Agents/Brokers E&O Trends, Claims and Coverages Issues”, on Tuesday, June 17 at 1:50pm.
The ExecuSummit is an educational event specifically designed for..
Architect EPLI claims can arise due to a number of factors. Of course none of your clients want to believe that an employee will sue them, however lawsuits do happen, and they can be incredibly costly for architects. Overall the most common types of claims covered under employment practices liability insurance include wrongful termination, discrimination, sexual harassment, and retaliation.
In 2011, the Equal Employment Opportunity Commission (EEOC) recorded nearly 100,000 charges related to Employment Practices Liability (EPL) claims. Among Architects, it..
Have you heard of CryptoLocker yet? If not, it’s time to learn more about it, and inform your clients as well. This new and particularly deceitful privacy and network security threat literally takes your computer files and holds them for ransom. This “ransomware” typically arrives through an email attachment, often a fake FedEx or UPS tracking notice.
Once CryptoLocker encrypts the computer’s files, it demands payment via Bitcoin or MoneyPak, and installs a countdown clock..
Directors and Officers Insurance (D&O) is often associated with large, for-profit companies. However, they are not the only ones that need it. Many people hold the common misconception that Nonprofit Directors and Officers Insurance is not needed because the directors of a nonprofit don’t have a meaningful exposure to personal liability. However, the reality of today’s litigious society is quite the opposite.
Nonprofit directors and officers have to meet the same legal standards of conduct, and..
Every day, insurance agents such as yourself are tasked with selling the right policies to your clients. You are responsible for determining what coverages are necessary and helping your customers to make the most informed choice possible. One product that seems to be ever challenging for agents and brokers to sell their customers is Cyber Security. Back in 2013, we talked about some of the common myths about cyber risk insurance; one..
A common question asked by insurance agents is about whether claims handling can cause an errors and omissions (E&O) claim. The very short answer to this is “yes”. Claims handling is a significant issue when it comes to insurance agent professional liability, or E&O. It’s currently projected that approximately 10% of all errors and omissions claims are due to alleged mishandling of the underlying claim by the agency. So the question is, what are common errors..
The end of 2013 saw quite a few major cyber breaches at large, well-known companies. Industries ranged from retail to hospitality, arts and crafts to foodservice. While this does show that a cyber-attack can happen to anyone, it also gives us valuable lessons to learn and share with clients. So what are some of these lessons?
Communicate Quickly and Carefully. In the case of the Target data breach, customers first learned that they were a potential victim..
The increasing number of real estate owned (REO) properties has created a greater number of vacant and/or abandoned homes across the U.S. than ever before. With this increase comes a greater need for the services provided by your property preservationist clients. Property preservationists are responsible for a number of different factors. They must secure the property; replace locks, remove any debris, hazardous materials, or even personal property that may have been left behind, and complete..
Overall we had about 120 people show up for the event at the Valley Stables. There was live music and we were able to sign up about 20 additional people for the walk in May to help raise money and awareness of the cause. Our company is seeking to raise at least $10,000 towards the cause. As a result of the event we were able to raise about $2,000 for Autism Speaks , including a $1,000 contribution by the Valley Stables restaurant. This brings our groups total..
Technology has changed the face of most businesses, improving communications, managing data more efficiently, and changing expectations of customer service. The insurance industry is no exception. Independent insurance agents and brokers use technology to better manage their portfolio of accounts, analyze the price of their policies, and settle claims faster and more efficiently.
A big question this raises for many insurance agents and brokers is “How can insurers effectively leverage emerging technologies?” According to two insurance-focused 2014 outlook reports released..
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