Directors and officers bear immense responsibilities in their companies. They are the architects of strategic decisions, the stewards of shareholder interests, and the guardians of a company’s vision. Yet, this level of responsibility comes with many challenges; directors and officers face a variety of risk exposures as they steer their...
Technology E&O – Professional Liability: What’s Covered, What’s Not
While technology can improve efficiency and convenience, it's not without risk. Technology E&O insurance protects businesses and their staff from negligence, mistakes, and cyber threats. Learning what E&O insurance is and is not will help you better meet your clients’ needs and make sure you don’t leave them with any gaps. What Is...
Basic Types of Insurance Needed for a Home Healthcare Business
Home healthcare is one of the country's fastest-rising industries, thanks to an aging population, more chronic diseases, and a greater focus on tele-health fueling the growth. The global home healthcare sector was worth an estimated $226 billion last year. By 2027, it's expected to be worth a whopping $340.2 billion. With increasing need and...
Top Five Examples of Directors and Officers Coverage Claims
Twitter recently agreed to pay out $809.5 million in a class-action lawsuit settlement that alleged its executives made inaccurate statements about the site's metrics. When the company's stock took a dive, investors were up in arms over the loss. With settlements hitting these kinds of heights, it's no surprise that the market for D&O...
Top 10 Trends in In-Home Businesses
Throughout 2020 and 2021, numerous small businesses shut their doors and instead decided to sell their products online. For millions, in-home businesses have proven to be highly lucrative, especially in the age of social media. Today, many small business owners continue to operate entirely from the comfort of their own homes. In-home businesses...
Do Your High-Risk Clients Need Excess & Surplus Insurance?
Suppose one of your clients is an arborist, who works with dangerous equipment – and in hazardous conditions – regularly. Or you’re working with the owner of a large concert venue who is worried about the risks of hosting large events with huge crowds. In cases like these, insurance carriers may refuse to offer standard coverage due to the higher...
Should Your Clients Sign a Waiver of Subrogation?
A Waiver of Subrogation is an agreement between two parties where one party agrees to waive subrogation rights against the other in the event of a loss. In other words, the person who adds this waiver onto their policy is waiving their right to sue the party they added, even if that party was negligent. A Waiver of Subrogation is commonly...
Admitted and Non-Admitted Insurance Carriers—What’s the Difference?
Looking at your coverage recommendations, your clients may not know the difference between admitted and non-admitted insurance carriers, and the benefits and drawbacks to each. Here’s a brief explanation you can use to help them understand the difference. If someone needs insurance for a situation that’s considered “high-risk,” they may be...
Why It’s Important to Do Business with an A-Rated Insurance Carrier
When considering insurance carriers, selecting a company that's fully capable of fulfilling its obligations is critical––especially if you experience a loss and need to file a claim. Like businesses in any industry, some insurance carriers are more reputable than others. So you help your clients shop for insurance, one thing to consider is the...
Answering Your Questions on Construction Contractor Liability with Liam Staunton
General contractors and independent contractors are vulnerable to risks that can impact their businesses. Listen as expert Liam Staunton explains the types of policies contractors may need to protect themselves. Plus, hear tips on the extra conditions you should be aware of when preparing coverage recommendations to your clients.
Why Large Properties are Harder to Insure in 2021
Thanks to a string of natural disasters, the COVID-19 pandemic, supply disruptions, social and civil unrest, production shortages, and a slew of other economic factors, 2020 was one of the most expensive years for the insurance industry since 1970. Insurance loss estimates totaled up to $83 billion, according to Swiss Re Institute—and we’re...
Do Artisan Contractors Need Insurance Coverage?
Artisan contractors are skilled workers who hail from a variety of industries. These trades include carpentry, plumbing, electrical, HVAC, masonry, roofing, and more. If you have clients who work independently, the last issue they want to face is an injury or property damage related to their work. Regardless of how much caution they exercise,...
Why Businesses Should Be Concerned About Ransomware
As one of the most dangerous and popular types of malware, ransomware is a growing threat amongst businesses. In the U.S., over 4000 ransomware attacks happen daily. During these attacks, cybercriminals use phishing tactics and network vulnerabilities to access a company's systems and data. They then threaten to either block access to networks or...