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...ency E&O exposures are trusts, cyber risk, Non-Ownership Auto exposures (P...e insurer. DIRECTORS & OFFICERS LIABILITY Nonprofit and for-profit corpora...

... claim, but might be liable for the damages resulting from it, which is the reasoning for broadening the wrongful acts definition. All things considered, a Third Party Coverage endorsement can be a worthwhile investment for any employer, because the stakes can be very high. Wayne E. Bernstein, CIC of e-perils.com, a division of Worldwide Facilities, Inc., is an independent insurance wholesaler specializing in Cyber insurance, D&O , E&O , Employment Practices Liability, Medical Malpractice, Crime, and Legal malpractice insurance for commercial and financial institutions. He can be reached at (213) 251-2427, fax (213) 380-4265, e-mail [email protected] , or Web site www.e-perils.com. Login or Register (for FREE) to gain access to thousands of other ... tolerated either inside or outside of the office and that a zero tolerance' policy is in effect. In addition, employers should implement a written complaint procedure for reporting and documenting incidents when they first occur, with assurances that all reports and complaints will remain confidential. When a claim or suit is made against an employer, the organization's first inclination might be to present the claim to its Commercial General Liability (CGL) insurer. However, most current CGL policies specifically exclude employment-related claims, so an employer shouldn't rely on this approach. If the allegation is purported to be an intentional act, the CGL policy won't respond, because it specifically excludes intentional acts from coverage. The CGL policy doesn't cover damages or awards and in the best-case scenario will only advance defense costs until a final determination of ...

Cybersecurity: Opportunities For Agents
CYBERSECURITY: OPPORTUNITIES FOR AGENTS by...ith network security firms that offer cyber-risk assessment and mitigation ser...

... its Commercial General Liability (CGL) insurer. However, most curren... In a third-party, or 'vicarious liability,' claim, it's very like...

... roles during unforeseen events. Cybersecurity Measures We live in an era do..., addressing the escalating threat of cyberattacks, and building a multi-skil...

... a broker of record. Primarily, how confident are you the current policies reflect the current exposures? Is your agency/producer familiar with this type of account and the exposures this type of risk faces? In addition, based on the quality of the job the prior agent did, there might be coverages available that haven't been discussed with your new customer but need to be for exposures such as cyber liability or employment practices liability. The bottom line: Duplicating the prior agent's mistakes does NOT isolate your agency from the possibility of an E&O claim if a customer has a claim that their policies didn't cover completely. Falling into the "renew as is" trap is one of the worst things you can do. It's best to treat this new customer, personal or commercial, as ... they were a brand new prospect. Prove your value by conducting a comprehensive review of the file. This includes analyzing their current program, identifying their exposures, and providing them with coverage options. Exposure Analysis Checklists are a great tool to assist you in this regard. Be sure to bring to your customer's attention the differences between their current coverage and the options you're proposing and to document all discussions. An additional question that's essential to resolve is exactly when does your agency technically become the official agent of record. Is the account switching over all of its business or just some of it? Does this take effect at the next renewal or mid-term? What are the wishes of the parties? What is the position of your carriers? Resolve these matters with your insured and carriers to ensure proper ...

...tements, though, too, and purchase cyber liability insurance as a further protective m...