Tag Archives: Insurance

Directors and Officers: CEO Succession Key for Risk Management

Directors and Officers CEO Succession Key for Risk ManagementThere are numerous components to a key risk management strategy. One way is with a successful CEO succession strategy.

The CEO is the figurehead of the company. Especially in high profile companies, they command a large amount of attention and have a significant influence on the company’s brand and image. It is growing as a crucial risk management strategy as well. Investors, rating agencies, and governmental entities are starting to require information about succession planning. And internal talent development and a comprehensive CEO succession..


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Directors and Officers: The Dangers of Short-Termism to a Board

Directors and Officers The Dangers of Short-Termism to a BoardDirectors and Officers: The Dangers of Short-Termism to a Board

Directors & Officers have a unique responsibility of being the liaison between running a company and representing the voices of their shareholders. And balancing those two views isn't always easy.

The Directors and Officers of a board are there to insure the shareholders’ voices and mission of the company are represented. But this idea has also given rise to a shareholder-centric model of corporate governance. While it gives shareholders a voice, it can also lead..


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Cyber-Liability Insurance: A Tough But Necessary Sell

Cyber-Liability Insurance: A Tough But Necessary SellWhy Cyber-Liability Insurance is a Must-Have Coverage for Your Clients

The cyber-liability landscape is constantly changing. It is difficult to see and identify risks- consequently it can be a difficult sell to clients. However, it is an essential form of coverage that business owners should not be without. It is essential for agents to educate insurance purchasers about the exposure to loss and potentially devastating consequences of a cyber-breach.

There were 515 million records breached in the U.S. in 2010, according to the Privacy Rights Clearinghouse...


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New York Investigating Insurers for Hurricane Sandy Claims

New York Investigating Insurers for Hurricane Sandy ClaimsNew York Investigating Insurers for Hurricane Sandy Claims

According to PropertyCasualty360, the New York Department of Financial Services is investigating the actions of three insurers following Superstorm Sandy.

The insurers are facing claims of an alleged failure to send, or timely send and adjuster to investigate claims. Others say claims were denied over the phone and never investigated in person. New York law requires insurers inspect damaged property within 15 business days of a filed claim. That timeline was shortened on Nov. 29 to six business..


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Professional Liability Risks for Nonprofits

Professional Liability Risks for NonprofitsProfessional Liability Risks for Nonprofits

Nonprofits were hit hard by the recession. During 2005 to 2010, private charitable contributions fell by nearly 10 percent (after adjusting for inflation). In short, people just didn't have the money to give. And while it’s starting to rise, charitable donations remain significantly below pre-recession levels.

Celebrity nonprofits are a double edged sword. A recognizable name brings a huge visibility to a cause, but it also ties the nonprofit directly to the celebrity’s reputation. When Tour de France cyclist Lance Armstrong admitted to doping during his..


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Directors and Officers Liability for Nonprofits

Directors and Officers Liability for NonprofitsDirectors and Officers Liability for Nonprofits

We live in a highly litigious society. As nonprofits struggle to recover after the economic downturn, any claim or lawsuit, whether true or not, could be detrimental to their organization. It is particularly essential to protect the directors and officers of the organization with a comprehensive D&O insurance plan.

Officers and directors of a nonprofit board have a unique responsibility to their institution that typically goes beyond the usual board/company relationship. They have a mission and..


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Why is Errors & Omissions Insurance Important?

Why is Errors & Omissions Insurance Important?Why is Errors & Omissions Insurance Important?

Errors & Omissions (E&O) covers a wide variety of occupations. For doctors, dentists, or chiropractors, it could be called malpractice insurance. For lawyers, it is professional liability. No matter the name, it is an essential coverage you should not be without.

Errors & Omissions is the insurance coverage that “protects professionals for amounts they may become liable for due to rendering or failing to render professional services,” according to the

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Value of Social Media in Disaster Communication

Value of Social Media in Disaster CommunicationValue of Social Media in Disaster Communication

Facebook, YouTube, Twitter; at first glance they don’t seem to really fit with the insurance industry  It’s more easily seen as a place for connecting with old friends and sharing viral videos of cute puppies and spending way too much time looking at LOL cats. So what place could social media possibly have in the agent-insured relationship? What is the value?

The key is just that word, relationship. Social media allows a..


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Privacy & Network Security Insurance: Cyber-Liability Growing

Privacy & Network Security Insurance Cyber-Liability GrowingPrivacy & Network Security Insurance: Cyber-Liability Growing

Storing any type of personal information exposes companies to risk of a privacy or data breach. Regardless of your industry, a data breach is costly, interrupts business, and can harm your reputation. Privacy & Network Security insurance is essential for all firms to protect against this new threat, regardless of size.

In the insurance industry, it is a hugely growing sector. Cyber insurance maintained a double-digit premium volume growth in 2012. It..


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