As we’ve discussed in a number of previous posts, Professional Liability or Errors and Omissions Insurance is a necessary coverage for any business that provides services or professional advice to their customers. While it can benefit any industry or business though, there are some businesses that stand out amongst those who need in the most.
For example, one industry where Errors and Omissions Insurance is particularly important is financial institutions. As we mentioned in our post..
When it comes to employment law, your Professional Liability clients likely have many questions. One of the most common questions employers have is about how to avoid EPLI claims. To answer this question, it’s important to know what EPLI claims are the most common. Employment lawyers tend to take EPLI Wage and Hour Dispute Claims the most seriously when it comes to employment law.
EPLI Wage and Hour..
Due to the recent upsurge of well-publicized data breaches, cyber insurance is gaining a lot of relevance. Privacy and Network Security should be a priority for all types of businesses, even insurance agents. What’s important to remember about privacy and network security, is that there is a lot more to it than just protecting every day data breaches and losses. Cyber insurance policies can provide coverage for a number of..
As a business professional who provides services and advice to clients, you are just as much at risk of an insurance agent professional liability claim as one of your clients is at risk of an E&O, or professional liability, claim. Due to this it’s imperative that you be financially covered with an insurance agent professional liability insurance policy, but also that you provide leadership to other employees of your agency, so that they will understand..
Social media use has become synonymous with marketing, no matter what type of business it is for. Insurance agents especially have found that social media marketing is an incredible tool, giving them the power to reach a broad range of clients and potential clients.
The key to implementing a successful social marketing campaign is having a strategy. This strategy should be drawn out on a written plan, with a guide that spells out the various issues..
Are your architect clients aware of their need for Directors and Officers (D&O) Insurance? Typically, when an architect firm expands and takes on a new manager or director, in many cases they will demand D&O coverage as a conditions of serving or employment because they want to be protected and have their personal assets protect.
Architect D&O and Professional Liability Insurance protects these individuals in the event they are personally sued, often in addition to..
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..
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