https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2106/ARE-YOU-OFFERING-EMPLOYMENT-PRACTICES-LIABILITY-INSURANCE/
... never offered them a proposal, and they get hit with a claim costing $50,000 in defense and $250,000 in judgment. Will your agency be sued for failing to provide proper coverage (the primary cause of E&O claims)? The odds are against you. Here's a recent E&O claim that illustrates this scenario. The ending is not pretty. A nursing home employees was tested for drug use after a narcotic disappeared from the medical department. The employee sued, alleging wrongful termination and defaming statements following the drug-testing procedure. The matter was reported to the nursing home's Comprehensive General Liability (CGL) carrier, but it denied coverage. The nursing home then sued the agency, contending that the agency should have informed it about EPL coverage. The agency ... Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Are You Offering Employment Practices Liability Insurance?4/30/2013 10:44:07 PM by CompleteMarkets Editor , Curtis Pearsall This content has not been rated yet. ARE YOU OFFERING EMPLOYMENT PRACTICES LIABILITY INSURANCE? by Curtis Pearsall Claims alleging wrongful employment practices have undoubtedly increased significantly over the last decade. According to USA Today, an estimated 450 employment lawsuits are filed every day. One survey reported that half of all ...
https://completemarkets.com/Article/article-post/2106/ARE-YOU-OFFERING-EMPLOYMENT-PRACTICES-LIABILITY-INSURANCE/
...rio. The ending is not pretty. A nursing home employees was tested for drug u... Is there vicarious or third-party Liability coverage? Are employees cov...
https://completemarkets.com/Article/article-post/1293/CONVALESCENT-AND-NURSING-HOMES-YOU-PROVIDE-CARE-SO-DO-WE/
Convalescent And Nursing Homes - "You Provide Care - So Do We"
CONVALESCENT AND NURSING HOMES - 'YOU PROVIDE CARE - SO DO ...we've been insuring convalescent and nursing homes for more than ( ) years. Ou...
https://completemarkets.com/Article/article-post/2111/Do-You-Take-Uninsured-Motorist-Coverage-For-Granted/
... coverage equal to the limits of Liability? The price differential is only an ...is priorities were to maintain high Liability limits but to keep premium costs...
https://completemarkets.com/Article/article-post/1630/MANAGING-RISK-A-GUIDE-FOR-YOUR-BUSINESS-CLIENT-PART-2-OF-4/
...exist for passing on or assuming liability for damage arising out of purchased...zations doing? No one knows what liability limit should appear on a policy....
https://completemarkets.com/Article/article-post/1292/Convalescent-And-Nursing-Homes-A-Risk-Management-Program/
Convalescent And Nursing Homes - "A Risk Management Program"<...Agency Name) specializes in insuring nursing and convalescent homes, we can he...
https://completemarkets.com/Article/article-post/784/Workers-Comp-Claims-Management-Best-Practices/
...mine whether there’s third party liability. If liability is found, determine which party (em...
https://completemarkets.com/Article/article-post/2162/DIVORCE-AND-AGENCY-VALUE-SEPARATING-GOODWILL/
... the agents' expertise, reputation, contacts, and special relationships. A doctor's clinic serves as a good analogy. If a sole-practitioner physician dies, becomes disabled, or retires, intrinsic and professional goodwill both come to an end. If another physician acquires the practice, the clinic might retain some patients from the previous doctor. These patients retain the new doctor because of past good experiences, friendly nurse and staff, location, and the clinic's long history in the community. This is intrinsic goodwill. The new doctor, if experienced, may bring professional goodwill of his or her own. That is, the new doctor may keep some patients and attract new ones with skill and personal qualities. In divorce cases involving a professional person, Texas courts have tended not to grant the spouse an ... 4/30/2013 by CompleteMarkets Editor , Roy Phillips This content has not been rated yet. DIVORCE AND AGENCY VALUE: SEPARATING GOODWILL by Roy Phillips In my agency valuation work with agents and their spouses in divorce cases over the past 15 years, the issue of professional goodwill has often arisen. When a couple divorces, they seek to divide their community interest between them. All assets and liabilities must be assessed to enable the court to make an equitable division of property. If one of the spouses is an insurance agent, his or her book of business thus becomes subject to valuation, and such intangible property often depends a great deal on professional goodwill. In my opinion, there are two types of goodwill in every insurance agency. The first is intrinsic goodwill. Simply stated, ...
https://completemarkets.com/Article/article-post/1101/WOMENS-INDEPENDENT-GUIDE-TO-INSURANCE/
...r skilled and custodial care in a nursing home. Some policies also may cover h...iness insurance offers property and liability coverage whether you operate fro...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1850/THE-2011-ISO-HOMEOWNERS-NEW-AND-IMPROVED/
... only for "bodily injury" in such a case, but "property damage" as well. • &# 160Controlled Substance The liability exclusion for loss resulting from the use, sale, manufacture, delivery, transfer, or possession of a controlled substance had an exception for the legitimate use of prescription drugs by a person following the orders of a licensed "physician" . Recognizing that dentists, nurse practitioners, and other health care professionals also have the legal right to prescribe drugs, ISO changed the wording to "following the lawful orders of a licensed health care professional" . Good News, Bad News Some of the policy changes, while reducing coverage in one way, broadened coverage in another. The most significant of these include: • &# 160Electronic Equipment Limits The Electronic Equipment coverage ... only 60 days. ISO recognized that because many students might leave personal property at school when returning home for summer break, the 60 days limitation was inadequate to provide coverage for the full summer period. • &# 160Motor Vehicle Exclusion ISO responded to agents concerns about the language used in the Homeowners 2000 policy. In both Section I – Property Not Covered and Section II – Liability Exclusions, the coverage did not extend to a motor vehicle unless used solely to service an "insured's" premises. There were concerns that a motor vehicle (such as a riding lawn mower), otherwise covered would have no coverage if it had been used even once in the past to service a neighbor's premises. The policy now states that there is coverage for a motor vehicle "used ...