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Frequent Claims Faced by Real Estate AgentsIn such a tumultuous and litigious society, real estate agents are no strangers to liability claims. As these claims have seen a significant rise in the last few years, now more than ever it’s imperative to secure your clients' operations with a Real Estate Professional Liability Insurance policy. Next, share the following information with them to ensure they steer clear of the common pitfalls of the industry.
 

Fraud.

Fraud includes an element of intent for wrongdoing. Therefore, the plaintiff must prove that..



Posted:March 16, 2017

The Need for Accountant EPLIEmployment Practices Liability Insurance (EPLI) is coverage intended to protect businesses against three general areas of employment-related issues: sexual harassment and hostile work environment claims, wrongful termination, and any type of discrimination (which can include discrimination based on sex, race, age, religion, nationality, family, disability and pay, and more). Therefore, it’s evident why employers of all sizes and industries should carry this insurance policy, and accountants are no exception. The American Institute of CPAs (AICPA) recommends that EPLI be an integral..



Posted:February 23, 2017

Best Practices for Property ManagersProperty managers are tasked with ensuring that the tenants are well taken care of. From prioritizing resident requests to vetting the right contractors for routine maintenance, property managers often have a lot on their plates at any given time. Therefore, in order to reduce liability and mitigate risks, your clients should be equipped with a comprehensive Property Manager Professional Liability policy and adopt the following procedures into their practices.

Remember daily management.

Property managers cannot physically be in each location each day. Therefore, relying on..



Posted:January 19, 2017

PL Risk Advisors, Inc. of Franklin Lakes, NJ announced today that the company has now completed its third full year of operations as a specialty wholesaler for professional and management lines. The company has achieved a 50 percent growth during the past year. Additionally, new sales for the company have continued to increase each quarter as the company solidifies its markets and expands its network of retail producers. Year to year new sales increased by 110% with 4th quarter trends representing 43% of the annual growth.  The company..



Posted:January 17, 2017

Reducing E&O Risks for Insurance AgentsYour insurance agent clients are experts in their fields and seek to provide the most quality and comprehensive coverage to their customers. However, are they are protected as those they serve? Therefore, ensure your insurance experts are protected with the right Insurance Agent Professional Liability Program to secure their operations and mitigate risk and financial burden. In addition, share the following information with them.

The vast majority of claims come from allegations of misrepresentation. Insureon states that these claims account..



Posted:December 14, 2016

Best Practices for Mortgage Brokers to Prevent FraudProtecting a mortgage company from the various schemes can be a daunting task. With so many evolving illegal activities and the help of technology, fraud prevention is always a top priority for these firms. However, with a robust Mortgage Broker Professional Liability insurance policy and the right internal controls, your clients can significantly minimize these schemes.

Here are some best practices for your clients to follow to ensure fraud does not occur:

  • Follow all state and federal regulations regarding licensing and loans.
  • Create..


Posted:November 22, 2016

How Can Realtors Reduce Their E&O Risks?Real estate agents face a variety of risks in their daily operations including environmental liability, claims against RESPA, violating the ADA, and many more. While this may seem daunting, the right Errors and Omissions Insurance can provide the necessary financial compensation and legal support needed to defend your clients in their cases. Further, share the following advice with them to prevent the most common types of claims from occurring in the first place.

Protecting themselves financially with the right Errors and Omissions..



Posted:October 14, 2016

Essential Cyber Security Tips In this digital age, the threat of cyber breaches are real threats to every business owner. What was once a distant danger is now an inevitable reality, so preparing your clients with a comprehensive Privacy and Network Security Insurance program is the first line of defense. Next, share these critical cyber security tips with them.

Antivirus software and spyware are critical. Such software is readily available online from a variety of vendors. All software vendors regularly provide patches and updates to their products to correct..


Posted:September 15, 2016

“Temp-to-Perm” Best Hiring PracticesContract attorneys are a useful and cost-effective way to protect your clients’ operations. In fact, some of these partnerships are so successful that sometimes temporary attorneys become full-time lawyers for the company. With that said, using best practices in the temporary to permanent hiring process can minimize your clients’ Employment Practices Liability.

According to Inside Counsel, most law departments make use of on-site contract attorneys, either regularly or periodically. Usually, the purpose is to cover during a staff absence, attack a specific..



Posted:August 9, 2016

Terminating a Client Relationship: Attorney LiabilityHow a attorney-client relationship is terminated is of utmost important in the law community. Many clients have a lot at stake, both financially and emotionally, and that is why terminating a relationship must be done appropriately and correctly to avoid Attorney Professional Liability claims.

Your clients can still withdraw from a case in certain circumstances. For example, if your client is violating the law or the rules of professional conduct by representing a particular person or company, they not only should withdraw from..



Posted:July 14, 2016

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