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The Differences Between the Admitted and Non-Admitted Insurance Markets It probably happens once every couple of weeks.  Being a wholesale Professional Liability broker, I present my retail-broker an option from a carrier that has better coverage, with a better rating, at a better price than the incumbent, but the insured stays put.  Less coverage, weaker...
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It’s the year 2020 and life as we know it has changed. Everyone is constantly washing their hands. We’ve all become too familiar with the terms “coronavirus” and “social distancing”. Working remotely and e-learning for our children is now the new normal. But what about the industries that can’t work from home? What about construction?...
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New Insurance Exposures for Real Estate Agents, Property Managers, and Property Inspectors July 2020 The cost of professional liability insurance for real estate agents, brokers and property managers seems to be on the rise. Why now? Why this sector? Insurance carriers have been taking a step back, and have been re-evaluating the real estate sector...
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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...
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In the world of claims-made insurance policies, the retroactive date, or prior acts date, is everything to your insured. This is the date that starts uninterrupted claims-made coverage, with the insurance company the insured is currently with, no matter the company the insured started the retro date with. A claim reported within the current policy...
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COVID-19 is Changing Daily Life for Lawyers Across America April 16, 2020 A lot has changed since the last time America saw something even close to what she’s in the middle of right now. Not the least of which is the legal industry and its influence on the cultural and economic landscape of our country....
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The following includes a roundup of resources to assist in monitoring the most up-to-date information available:   World Health Organization: Information and guidance on coronavirus (COVID-19) CDC Guidance on Exposure & Reporting Business Pandemic Influenza Planning Checklist Coronavirus Information for Travel Health Alert Network – CDC’s primary method of sharing cleared information about urgent public health incidents...
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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...
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Why Buy Cyber Liability? 10 Reasons Healthcare Entities Need to Buy Now   1  | PRIVACY LAWS Federal laws including the Health Insurance Portability and Account- ability Act (“HIPAA”) and the Health Information Technology for Economic and Clinical Health (“HITECH”) Act require prompt notification if protected health information (PHI) that is not encrypted is lost,...
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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...
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