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/172/Tis-The-Season-For-Epli-Claims/
... 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, ... 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 ... . 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 coverage is made. The Employment Practices Liability insurance policy addresses these types of claim exposures. However, the basic policy isn't enough to provide protection for third-party claims. Most insurance companies now offer a Third Party Coverage endorsement, which you must specifically request when negotiating the coverage. As with any coverage, there are types of businesses, such as airlines and entertainment risks, that underwriters will avoid. However ...
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/2653/Freezing-Your-Credit/
...tements, though, too, and purchase cyber liability insurance as a further protective measure.
...
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 ...