Silicon Valley Bank Seized The Potential Fallout from the 2nd-Largest Bank Failure in U.S. History March 13, 2023 By now you’ve likely heard of the Silicon Valley Bank (SVB) crisis. The bank’s assets were quickly depleted late last week with customers withdrawing over 42 billion US dollars on Thursday. As of late last week,...Read More
EPLI – Every Business Should Carry This Coverage What is Employment Practices Liability (EPLI) Insurance? Employment Practices Liability Insurance (EPLI) will protect a business against claims that allege actions from first and third-parties of wrongful termination, discrimination, sexual harassment, wage and hour violations (FLSA), failure to promote, retaliation and much more. EPLI will often...Read More
Directors & Officers (D&O) Liability Insurance What is D&O Insurance? Directors and Officers insurance (D&O Insurance) protects a company against liability while managing their business. The policy will cover defense costs and settlements resulting from claims that allege a breach of fiduciary duty, errors and omissions, and misrepresentations. Who Needs D&O Insurance? Public,...Read More
Three of our Newest Insurance Markets for Your Risks Global Indemnity gbli.com Primary & Excess Rated “A” (Excellent) by AM Best Group Management Liability /Not-For-Profit PACKAGE PRODUCT (D&O, EPL, Fiduciary, Crime) A modular package policy for Privately Held, For Profit Companies and Non-Profit Organizations. Target small to middle market risks with up...Read More
Insuring the Directors & Officers (D&O) of a SPAC for their IPO A Special Purpose Acquisition Company or SPAC is an entity that has no operations. It’s a vehicle to raise capital through an IPO, that will eventually be used to acquire an existing private company, and that private company will become a publicly traded...Read More
Class Action COVID Prior to COVID-19, the D&O insurance market was already undergoing a period of remedial correction in terms of both pricing and carrier appetite, following years of soft market trading conditions and heavy losses. However, the initial impact of the pandemic alongside some of the longer-term effects is already being realized, such as...Read More
Why are Premiums Going Up? March 2020 A private company, with no claims history and no cannabis or crypto currency exposure, gets their management liability renewal quote and the premium is up 20%. The CFO says, “Our company is the same as it was a year ago, why did my premium increase?” The current premium...Read More
Dare we say it?! There are signs of a hardening market in healthcare. February 2020 For those of you that have been around as long as I have, you’ve most likely experienced a “hard market.” For those of you that haven’t, you might be asking, just what is a hard market? IRMI defines it as...Read More
Why Use a Wholesale Insurance Broker? Why Use FoundersPro? Why would an insurance agent need to use a wholesale insurance broker? Maybe the agent doesn’t have access to specific insurance markets, or knowledge on a specific industry or line of insurance. That’s when it’s time to turn to a wholesale insurance broker. Wholesale brokers can...Read More
Representations and warranties insurance, also known as ‘Reps and Warranties’, is the insurance that protects against breaches of contractual representations and warranties that a seller makes in transaction documents during a commercial merger or acquisition. These insurance policies are increasingly purchased for mergers and acquisitions (M&A) transactions to help the buyer and the seller ensure...Read More