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...ability, Errors & Omissions, Directors & Officers Liability, Media &am...iligence can help reduce the frequency and severity of E&O claims as well ...

... other governing documents), and directors  Employees who hold managerial or supervisory positions and those leased or temporarily employed (... Gary Griffin, CPCU, is a consultant with Warren, McVeigh & Griffin, ...

... failed to investigate the facts himself. Punitive damages may be awarded against an agent in a case of intentional deceit, although they require proof by clear and convincing evidence. Punitive damages against the agency for the acts of an employed agent may be awarded only if a director, officer, or managing director of the firm (a ) knew of the unfitness of the employee and employed him in conscious disregard of others' rights, (b ) authorized or ratified his conduct, or (c ) was personally guilty of fraud, ... or oppression. Civil Code Section 3294. Punitive damages cannot be covered by insurance under California law. Damages for intentional acts may or may not be covered by a particular liability policy, depending on exactly what was intended and the terms of the policy involved. If an agent makes a mistake, he should not make things worse by trying to cover it up, thereby possibly creating a fraud claim and damages which might not be covered by his E&O policy. Other theories. Agents may be charged with violation of Insurance ... Glossaries Management Resources & Links Categories Popular Recent All Back Legal Outline For California Agencies - Chapter 4 4/30/2013 10:39:41 PM by CompleteMarkets Editor This content has not been rated yet. LEGAL OUTLINE FOR CALIFORNIA INSURANCE AGENCIES CHAPTER FOUR LITIGATION, LIABILITY INSURANCE, AND DISPUTE RESOLUTION 4.1 Risks posed by litigation. Litigation is a major threat to an insurance agency. Many potential claims are uninsurable in California, such as punitive damages claims. Substantial deductibles are often necessary to make coverage affordable. These facts of life ...

... Specific coverage for wrongful employment conduct can actually be purchased in a number of ways. The most common are individual stand-alone policies covering your liability for specifically enumerated wrongful practices. EPLI coverage can also be obtained by the attachment of riders or endorsements to other policies such as Directors & Officers policies and others. The benefit of purchasing coverage under a unitary contract, however, is that the coverage provided is usually broader and the limit of liability is not eroded by the payment of unrelated coverage. Endorsements to other kinds of policies ... only provide limited protection and often lack a duty to defend. But criticism of the stand-alone policy approach is that the coverage can be expensive and it may be difficult to purchase policy limits greater than $10 million. Yet another approach is to purchase coverage for defense expenses only. This approach has the benefit of protecting against the often enormous cost of defense but keeps the price down by precluding coverage for judgments and settlements. Duty to Defend The promise by the insurer to defend the insured is arguably one of the most desirable features ... Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Epl: Building A Three-Legged Stool Of Protection 4/30/2013 10:35:25 PM by CompleteMarkets Editor , Gary Griffin This content has not been rated yet. EMPLOYMENT PRACTICES LIABILITY INSURANCE: BUILDING A THREE-LEGGED STOOL OF PROTECTION by Gary Griffin, ARM, and Rachel McKinney As the incidence of wrongful employment practice suits increases, savvy employers are taking proactive steps to control both the frequency and severity of claims. But even the most aggressive prevention ...

...R LITIGATION, LIABILITY INSURANCE, AND DISPUTE RESOLUTION 4.1 Risks posed by....C.P. Sections 1280-1288.8. They apply to discrimination claims as well as con...

...ements to other policies such as Directors & Officers policies and oth...__________________ ADDRESS YOUR FAX TO THE RISK MANAGEMENT LETTER at (714) ...

...blished by the Agency's Board of Directors (the 'Board'), including full autho...182 NE 222nd Its: Vice President Portland, OR 88020 Address: P.O. Box 2112 Portland, OR 88020

... . 2.6 On the date on which CIS shall become operational, it shall hire those certain persons who are now employed by the Parties hereto as identified on EXHIBIT E annexed hereto upon such terms and conditions as shall be mutually acceptable to such persons and the Board of Directors of CIS. 2.7 There shall be no transfer hereinafter to CIS by any Party of any incident of ownership of the Accounts now or hereafter owned by any party, including expirations and expiration data with respect thereto, which customer lists and records with respect thereto as ... accounting, servicing, marketing, claims and other services. Each Party shall provide its own personnel for production of business and to serve as the primary liaison or contact with its Accounts to such extent as it shall deem necessary and appropriate. 2.11 CIS shall provide all office space, equipment furniture and supplies necessary and appropriate to the proper and efficient operation of CIS. Assignment of office space shall be as designated on EXHIBIT F annexed hereto. Each Party shall pay rent to CIS for the use of its designated space at the initial ... late charges on overdue premiums. Commissions on so-called audit premiums shall be included as Net Annual Commissions. (d ) Book Value' shall mean the stated value of all assets less depreciation but excluding goodwill, covenants not to compete, Accounts and other intangible assets less liabilities of every name and nature. Additionally, there shall be excluded from Book Value the death benefit payable from life insurance, if any, on the life of any Party hereto or individual shareholders or employees of a Party hereto. (e ) Total Permanent Disability ...

...to such persons and the Board of Directors of CIS. 2.7 There shall be no trans... unabated for 10 days following notice to the Party that CIS deems it to be in breach hereof, Total Permanent Disability of an indivi...

...outstanding loans to its agents, directors, stockholders, officers or employee...RCHASER CLOSING BALANCE SHEET PURSUANT TO SECTION 4(k)