It goes without saying that being an educator, especially at the college level, is a rewarding career. With the right attitude, preparation, and organization, this challenging position can be a successful venture. However, this industry is not without its risks. One of the factors essential to a financially sound educational facility is the right type of insurance coverage, which starts Professional Liability coverage, designed to protect your education clients against claims of wrongdoing, negligence, defamation, or even harassment.
It’s critical to understand just how educators..
PL Risk Advisors, Inc. of Franklin Lakes, NJ announced today that the company has now completed its second full year of operations as a specialty wholesaler for professional and management lines. The company has achieved a 30 percent growth during the past year, on top of the overwhelming success in the first year. This growth has led to having written over $12M in professional and management liability premiums through the new venture. PL Risk announced that it has successfully completed contracting with its insurance markets and retail brokers to..
Social media lawsuits have been running rampant as of lately. From copyright infringement to libel, slander and defamation, there is no shortage of opportunity for social media to land your clients in hot water. While most of the posts aren’t intended to be malicious, there are specific requirements that all employees should adhere to. As employers, it is your client's’ sole responsibility to provide clear and documented social media policies. However, in order to be effective, both a workplace policy and..
Becoming a company’s first general counsel is both rewarding and challenging. While your clients are able to make their stamp on the company, there are undoubtedly going to be hurdles and inadequate processes that need to be overcome. Therefore, it’s important that these professionals maintain their Lawyer Professional Liability insurance during this transition.
In addition to providing legal advice to the company, outdated processes and procedures need to be revamped by general counsel. This includes improving the organizational structure of the company and improving their..
Class action lawsuits are becoming more complex than ever before. In order to combat these lawsuits, law departments for many companies are devising new strategies to protect their respective companies. In the wake of this sobering survey, it’s imperative your clients carry Professional Liability Insurance to be adequately defended.
Inside Counsel states that Carlton Fields firm’s 2016 Class Action Survey, released this week, estimated that U.S. companies spent a combined $2.1 billion on class action..
As most business owners are aware, a successful business needs to have an effective law firm representing them. While we have discussed the benefits of hiring inside counsel in the past, many companies are more inclined to hire outside counsel. If this is the case, the payment methods and their repercussions should be considered. As the main decision-makers for their firms, Directors and Officers Insurance is a necessary asset that protects their respective business.
Your clients may choose to pay their outside counsel hourly...
The exposures that architects face are broad to say the least. As their daily operations involve designing, planning, and implementing structures for clients, there is no shortage of potential error one can make, as unintentional as they may be. While a basic insurance portfolio is carried by many professionals, it’s important to note that Professional Liability for Architects is affordable and a necessity in protecting their operations.
It is likely that a company that is inquiring about this coverage has likely been approached..
Cell phones are a vital part of everyone’s lives. Since they provide 24-hour access to information and data, it should come as no surprise to find out that cell phones can pose serious risks for business owners. Employees who use their cell phones to work outside of company time and even transfer data could land a company in hot water. Here are a few ways to mitigate these issues in addition to including a Risk Management strategy in the business portfolio.
There are plenty of reasons a company decides to bring on a general counsel team. Especially for large corporations, these professionals seek to reduce and control their Risk Management Liability. What’s more, having an in-house general counsel has plenty of benefits. Here are some common reasons that companies founded a legal department.
Desire for Growth
The strategic planning for growth is backed by the general counsel. This helps to ensure all of the milestones are achieved without adding any unforeseen risk. Furthermore, general counsels can help..
As employers are being faced with more and more accusations of discrimination lately, businesses must address the concerns of Employment Practices Liability and how to prevent these claims. While ensuring they are in compliance with federal and state regulations is critical, not all claims are 100% avoidable. Therefore, the right insurance package to defend your clients’ companies is a necessity. Further, employee morale can have a positive effect on the frequency and severity of these claims.
Individual employee recognition is a proven way..
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