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Common Myths about Cyber Risk InsuranceCommon Myths about Cyber Risk Insurance

If your client is a business owner, it’s imperative that they be aware of the cyber risks their company faces. More often than not, cyber risks fall outside the realm of traditional liability insurance policies, making it necessary for companies to purchase a separate Cyber Risk Insurance policy. Surprisingly though, there are still business owners and individuals whom believe that they do not need this type of policy, and it’s mostly because they don’t understand the risks involved. In fact,..



Posted:December 17, 2013

Common Questions about Professional Liability Insurance for AttorneysCommon Questions about Professional Liability Insurance for Attorneys

Approximately 55,000 U.S. attorneys are likely to face an allegation of professional liability in any given year. Claims activity against attorneys has steadily increased in each of the past two decades. It does not matter what part of the country your client is in or how big their firm is- all areas of practice are at risk. These facts answer the first question many attorneys have about professional liability insurance, which is “why do I need it?”..



Posted:December 16, 2013

What is the Value of Social Media Networking for Insurance Agents and Brokers?The Value of Social Media Networking for Insurance Agents and Brokers

According to statistics compiled by FastCompany.com, 93% of marketers use social media for their business needs. It’s becoming more common to include social media as a part of an overall marketing budget or strategy, as opposed to when it was the outlier that businesses typically did not want to spend time or money on. The question arises, how can social media work for insurance agents or brokers?

As you..



Posted:December 11, 2013

Professional Liability for Mortgage BrokersProfessional Liability for Mortgage Brokers

Mortgage brokers provide an essential service for real estate buyers and owners. Whether purchasing or refinancing a property, their customers depend on them to help secure the services of a qualified lender and then perform the necessary tasks to close the transaction. It’s important to remind your mortgage broker clients or prospects that things don’t always go as planned when arranging financing for the purchase of real estate.

A closing can fall through because of the improper or late filing of paperwork,..



Posted:December 9, 2013

Why IT Consultants need Professional Liability InsuranceWhy IT Consultants need Professional Liability Insurance

IT consultants are typically independent contractors, and likely have to set up their own insurance coverage, including health insurance and possibly other policies. Along with these, your IT consultant clients must evaluate their need for Professional Liability Insurance. This will protect them if they have a client who files a lawsuit regarding how they did or did not fulfill their professional obligations.

One example of when a consultant would need professional liability insurance is if they design a customer database..



Posted:December 4, 2013

Accountant Professional Liability: Common Reasons for ClaimsAccountant Professional Liability: Common Reasons for Claims

In a previous post titled “Why Accountants Need Errors and Omissions”, we discussed the importance of carrying E&O Insurance to protect accountants’ operations from possible liability or malpractice claims. Accountants may face issues with data entry, incorrect tax advice, failure to meet deadlines, or for a number of other factors. While the only foolproof way for your accounting clients to truly protect themselves from a damaging malpractice claim is to purchase the right type of insurance policy, there..



Posted:December 3, 2013
Posted in: Agents

The Importance of Architects Professional Liability InsuranceThe Importance of Professional Liability Insurance for Architects

It’s been almost a year since Superstorm Sandy hit the Northeast, and for some coastal communities, the rebuilding has only just begun. There has been a lot of talk about elevating roadways to prevent some of the damage that was done last year. With that, many homes are being lifted as well. Of course, with these new building designs come risks for the architects that take the projects on. These architects have to face new federal regulations in..



Posted:November 21, 2013

Insurance Agent Professional Liability: Common Sales TechniquesInsurance Agent Professional Liability: Common Sales Techniques

Whichever type of insurance you sell, the goal is always the same. That is, to grow leads and increase your sales. Below are some common insurance sales techniques used by experienced agents.

Actively listen. Many insurance agents say that the best thing you can do is let your prospect lead the discussion. Instead of pitching your product, sit down and ask the person you are speaking with about their lifestyle, asking questions about their family or business and concerns..



Posted:November 20, 2013

Professional Liability Insurance for Insurance AgentsProfessional Liability Insurance for Insurance Agents

Almost 1 in 7 insurance agents will be involved in an Errors and Omissions claim at least once during their career.

Insurance agents are one of the most commonly sued professionals, making the need for professional liability insurance coverage necessary.

When offering services to any client, there's always the potential to make a mistake that results in a lawsuit being brought against you.

Here are just a few examples of professional liability claims that insurance may face:

  • Not maintaining detailed client records
  • Omitting important client..


Posted:November 14, 2013

Professional Liability: The Qualities of a Successful Insurance AgentProfessional Liability: The Qualities of a Successful Insurance Agent

In a previous post, we talked about how important it is for successful insurance agents to have good communication skills, as certain insurance products can sometimes be complicated to understand. In addition to communication skills, here are several qualities that a successful insurance agent should possess, at least to some degree.

People skills

Some insurance agents and brokers say that the hardest part of their job is earning the trust of their client. However, this can..



Posted:November 12, 2013

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