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E&O Products for Insurance Agents

Protective Specialty Insurance Co. has launched a pair of new errors and omissions products for insurance agents. One product will cater to life insurance agents, and the other will be tailored to property/casualty agents. Both products are designed for retailers, wholesalers, managing general agencies and managing general underwriters with annual revenues to $75 million. Insureds will also receive pre-claim assistance from Traub Lieberman Strauss and Shrewsberry LLC, an insurance defense law firm. The company considers both these new products an important step in its plan to grow a broad product-based professional liability division. Protective Specialty also offers professional liability coverage… Read More »E&O Products for Insurance Agents

Florida Personal Injury Protection Law

A bill (HB 119) designed to reduce the fraud in the state’s personal injury protection insurance was passed Friday in the Florida House of Representatives. PIP fraud results in higher costs to customers through increased premiums. In some places, that translates into hundreds of extra dollars per year. Lawmakers passed PIP coverage in 1972 to ensure that anyone hurt in an automobile wreck could get medical treatment. The legislation mandated that a driver’s insurance company pay up to $10,000 to cover medical bills and lost wages after an accident  regardless of fault. All Florida drivers are required to carry no… Read More »Florida Personal Injury Protection Law

Workers Comp. Electronic Claims Reporting in New York

The New York State Workers’ Compensation Board is transitioning from a paper to an electronic employer report of injury system. The board will adopt the IAIABC (International Association of Industrial Accident Boards and Commissions) Claims Electronic Data Interchange (EDI) Standard Release 3.0. Currently, the board accepts New York-specific claims information from employers and insurance carriers through paper submission. But beginning in early 2013, these submissions will be required to match the IAIABC standard and be made electronically. Read More

California Workers Comp Agreements Review

California’s Department of Insurance is seeking to force units of Zurich Financial Services Ltd. to cease issuing workers compensation “large-deductible agreements” that have not been properly reviewed. The California Insurance Code requires insurers to submit workers comp policy forms and endorsements to the Department of Insurance and to the Workers’ Compensation Insurance Rating Bureau of California for legal review before they are issued to policyholders. However, Zurich American Insurance Co. and Zurich American Insurance Co. of Illinois may have evaded such a review, the Insurance Department said Tuesday in announcing that it had begun an administrative enforcement action. “The unreviewed… Read More »California Workers Comp Agreements Review

Social Media Guide for Insurance Professional

Bail bondsmen, insurance agencies, insurance companies and even the National Association of Insurance Commissioners have found Facebook to be a great resource for marketing products, posting articles and spreading their messages. These entities also use social media such as LinkedIn, Twitter, or Google+ as inexpensive and quick ways to reach current and potential customers. Needless to say, using social media is a widespread business practice and certainly has its advantages. However, it is not without risk. Ron Panko’s article “Avoiding Social Media Traps,” in the January 2012 issue of Best’s Review, provides excellent tips to help bail bondsmen, agents and insurance… Read More »Social Media Guide for Insurance Professional

Lawyers Professional Liability

Target Classes: – Hard to place Lawyers/Law Firms – Employed Counsel – Excess Lawyers/Law Firms CAPABILITIES: – Prior acts considered on a risk by risk basis. Retroactive date inception is considered as well – Limits of $5M on a primary basis and $10M capacity on an excess basis – Minimum Premium $10,000 at $1M limits of liability – Minimum Premium $5,000 employed counsel – Sole practitioners to large firms CONTACT US TODAY FOR MORE INFORMATION AND A QUOTE!

Cruise Travel Insurance

The most recent cruise ship crush and following problems with compensations not paid to victims reminded us to blog about travel insurance. Paperless Insurance Services proudly offers travel insurance quotes for all travelers including foreign tourists coming to USA. Use our online tool to get instant coverage. There are silver, gold, platinum and premier policies that provide coverage for disruptions to your travel. The new policy covers disruptions from natural disasters, airspace closure and airline failure among others. “Over the past few years we have seen numerous events which have led to travellers being stranded abroad, such as the volcanic ash… Read More »Cruise Travel Insurance

Workers comp assessments 5 times higher for N.Y. state employers

New York state employers pay nearly five times more in workers compensation insurance premium assessments than the average in other states, according to a Workers’ Compensation Policy Institute report. Most states impose similar surcharges on employers to fund their workers comp systems, according to the Latham, N.Y.-based research affiliate of the Public Employer Risk Management Assn. But the average premium assessment among 32 states that impose the taxes is 4.2%. In contrast, New York state employers pay assessments totaling 20.2% of their premiums, according to the report, “Workers’ Compensation Assessments: The Hidden Tax Confronting Employers and Taxpayers.” In Minnesota, the… Read More »Workers comp assessments 5 times higher for N.Y. state employers

Select Accounts Workers Compensation: The Travelers Advantage

Travelers is the third largest National Workers Compensation Carrier* in the United States. Our success is built upon our ability to provide innovative Workers Compensation insurance and risk protection products and services tailored to our customers’ needs. Travelers Delivers Flexible, Competitive Products Broad underwriting appetite, competitive products and the right coverage for the risk. Cutting-Edge Technology At Travelers, we are committed to investing in agency automation solutions that help agents do more business, faster, easier and more profitably. One solution is the TravelersExpress® platform which allows you to move quickly from quote to policy issuance and in most instances within the agency authority. Exceptional Claim… Read More »Select Accounts Workers Compensation: The Travelers Advantage

New Enhancements to Real Estate E&O Program

We are proud to announce that we’re now offering an exclusive Real Estate Errors and Omissions Liability protection. Easy Way to Quote and Bind Online We offer an advanced and intuitive online application that allows to facilitate the quotation, binding and policy issuance process for our customers. For qualified applicants, a quote and policy may be processed in minutes. Coverage Features We’re confident that our program will bring you superior underwriting and service. That said, the policy’s coverage will remain packed with coveted features and include 2 free hours of access to a toll-free, confidential risk management hotline and, for qualifying risks, new coverage… Read More »New Enhancements to Real Estate E&O Program