https://completemarkets.com/Article/article-post/227/Emerging-E-O-Loss-Exposures/
...ency E&O exposures are trusts, cyber risk, Non-Ownership Auto exposures (P...n obvious D&O exposure that the insurance professional should deal with in...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1817/CYBERSECURITY-OPPORTUNITIES-FOR-AGENTS/
... risk assessment. If you don't have knowledge and expertise in any aspect of CyberSecurity TRM, get professional assistance. For example, cyber-risk assessment must include network vulnerability and intrusion detection technology applied by specialists. Some insurers, and a number of network security companies, perform cyber risk assessment. Once the assessment is complete and all exposures have been identified, the next phase is to implement mitigation protection' measures that reduce or eliminate the risk. Mitigation protection combines technology with policy and process measures that address internal people issues more than hardware ... mitigated and the client suffers a loss. Insurance programs that address CyberSecurity provide a wide range of coverages but don't cover every conceivable cyber risk. So it's wise to carefully consider all options in choosing an insurer and its cyber-risk policies. Coverages can range from Web Content Liability only, to include Professional Errors & Omissions, Network Security Liability, Cyber Extortion, Network Intangible Information Loss, Network Business Interruption, and funds for cyber-criminals and crisis communication. The federal government expects private and public enterprises to increase protective measures against a rising tide ... $330 billion for Homeland Defense will fuel unprecedented expenditures in all areas related to security. As one of the most critical areas related to the nation's infrastructure, CyberSecurity will receive a significant portion of these funds. G. Edward Kalbaugh discusses cyber-risk issues and what role insurance agents can play in addressing these risks. &# 160 Federal funding for CyberSecurity is important to insurance agents for a number of reasons. Before discussing these reasons, let's define CyberSecurity as any product or action that attempts to secure a wired or wireless network. ...
https://completemarkets.com/Article/article-post/2780/Optimization-of-financial-security/
...e life has moved to the Internet. Cybersecurity problems have become increasi...ing with a financial consultant or insurance professional lets you create a c...
https://completemarkets.com/Article/article-post/1817/CYBERSECURITY-OPPORTUNITIES-FOR-AGENTS/
Cybersecurity: Opportunities For Agents
CYBERSECURITY: OPPORTUNITIES FOR AGENTS by...irm specializing in services to the insurance industry. It is located at 100 C...
https://completemarkets.com/Article/article-post/172/Tis-The-Season-For-Epli-Claims/
... its Commercial General Liability (CGL) insurer. However, most curren... In a third-party, or 'vicarious liability,' claim, it's very like...
https://completemarkets.com/Article/article-post/2781/Risk-Management-Strategies-for-Small-Businesses/
... roles during unforeseen events.
Cybersecurity Measures
We live in an era do..., addressing the escalating threat of cyberattacks, and building a multi-skil...
https://completemarkets.com/Article/article-post/2134/Agency-E-O-Exposures-To-Broker-Of-Record-Letters/
...t need to be for exposures such as cyber liability or employment practices liability.
The bottom line: Duplicating the p...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2134/Agency-E-O-Exposures-To-Broker-Of-Record-Letters/
... 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 if 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 ... 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 handling of any coverage modifications or claims. When you are acquiring an account via a BOR, pay proper attention is given to every file. Do not "renew as is!" You might simply be duplicating the prior agent's mistakes ...