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Professional Liability / E&O

“Super Losses” of Healthcare Sector

The overall cost and frequency of so called $50 million plus “super losses” in the U.S. healthcare insurance sector are on the rise. According to a report from specialist healthcare insurer Hiscox, the large losses keep on getting larger with juries in the last two years alone awarding more than $1 billion in total damages for just seven medical liability cases. The rise in large claims is happening despite the clear benefits of the implementation of quality and patient safety measures, Hiscox said. Record awards are being made in cases ranging from inadequate staffing at nursing homes to medical negligence… Read More »“Super Losses” of Healthcare Sector

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

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!

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

Willful Misclassification of Independent Contractors (SB 459)

California law SB 459 imposes a civil penalty of $5,000 – $15,000 for each violation on a person or employer that willfully misclassifies an individual as an independent contractor. Willful misclassification is defined as avoiding employee status for an individual by voluntarily and knowingly misclassifying that individual as an independent contractor. The penalty increases to $10,000 – $25,000 for each violation if the person or employer has engaged in a “pattern or practice” of willful misclassification. The law also subjects paid, non-attorney advisors to joint and several liabilities with the employer if they knowingly advise the employer to treat an… Read More »Willful Misclassification of Independent Contractors (SB 459)

Paperless Insurance Now Offers Coverage in New York

SAN FRANCISCO-based independent insurance brokerage Paperless Insurance Services (PIS INC), Inc. has started offering business insurance products in the State of New York, PIS INC announced Thursday. PIS INC will be using their website as the marketing and underwriting base in the State if New York CFO Diana Motseniat said in her announcement. Paperless Insurance also announced that it is in the process of starting operations in the State of Texas. “Starting operations in New York is vital to the continued expansion of our U.S. platform to complement our strong position and build a truly unified small business insurance platform,”… Read More »Paperless Insurance Now Offers Coverage in New York

Eleven Cybersecurity Tips for Small Businesses

Broadband and information technology are powerful factors in small businesses reaching new markets and increasing productivity and efficiency. However, businesses need cybersecurity tools and tactics to protect themselves, their customers, and their data from growing cyber threats. Here are ten key cybersecuritytips for businesses to protect themselves: 1. Train employees in security principles Establish basic security practices to protect sensitive business information and communicate them to all employees on a regular basis. Establish rules of behavior describing how to handle and protect customer information and other vital data. Clearly detail the penalties for violating business cybersecurity 2. Protect information, computers and… Read More »Eleven Cybersecurity Tips for Small Businesses

New Underwriting Requirements for Technology Errors and Omissions Insurance Coverage through Travelers Insurance Company

Select Accounts and Global Technology have a close working relationship to provide competitive products and services for Select’s technology customers. With Select’s Master PacSM product and coverage offerings combined with Global Technology’s CyberFirst® E&O Liability product, coverage may be specifically tailored for today’s high tech companies. Select Accounts recently reviewed Master Pac business with an associated Technology CyberFirst E&O policy to determine the proper eligibility to maximize Select Accounts Technology E&O writings. As a result of the review, it has been determined that the best opportunity to write CyberFirst E&O coverage for Select business is when the account has at… Read More »New Underwriting Requirements for Technology Errors and Omissions Insurance Coverage through Travelers Insurance Company