Insurance Journal » Professional/Management/Employers Liability http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 19 Jun 2013 01:12:38 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 The Hartford Enhances Small, Midsize Business Management Liability Coverage http://www.insurancejournal.com/news/national/2013/06/14/295520.htm Fri, 14 Jun 2013 10:00:56 +0000 http://www.insurancejournal.com/?p=295520 The Hartford has enhanced its private company management liability offerings with Private Choice Ovation, a package policy with updated and expanded coverage options designed to address emerging exposures facing business owners and management teams today. “As small and midsize business …

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]]> Medical Liability Market Profitable But Deteriorating Results Expected: Fitch http://www.insurancejournal.com/news/national/2013/05/14/291819.htm Tue, 14 May 2013 14:27:46 +0000 http://www.insurancejournal.com/?p=291819 The medical professional liability insurance (MPLI) market was one of the most profitable lines of business in the United States for the past five years, according to a new report. MPLI posted an average calendar year combined ratio of 87 …

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]]> E&O Insights: Directors & Officers Liability Is Not Your Normal Insurance Product http://www.insurancejournal.com/news/national/2013/05/14/291814.htm Tue, 14 May 2013 14:16:38 +0000 Curtis M. Pearsall http://www.insurancejournal.com/?p=291814 If you asked 100 insurance professionals on the agency side what one line of business “scares” them the most, it’s likely that directors and officers (D&O) liability would be at the top. The lack of standardization of policy forms contributes …

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]]> Dewey & LeBoeuf Ex-Chairman Agrees to Proposed $500,000 Settlement to Resolve Claims http://www.insurancejournal.com/news/national/2013/04/24/289586.htm Wed, 24 Apr 2013 14:50:34 +0000 http://www.insurancejournal.com/?p=289586 The former chairman of Dewey & LeBoeuf has agreed to pay more than half a million dollars in a proposed settlement with Dewey’s trustee and insurer to resolve claims that bad management led to the law firm’s demise, according to …

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]]> Concerns Over Patient Safety a Top Concern for Hospital Leaders, Risk Managers: Study http://www.insurancejournal.com/news/national/2013/04/22/289311.htm Mon, 22 Apr 2013 14:46:37 +0000 http://www.insurancejournal.com/?p=289311 The lack of teamwork combined with a negative culture and poor communication in hospitals today presents a barrier when it comes to patient safety in the future, according to a new survey. The survey results revealed a tension between what …

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]]> Willis Acquires UK Indemnity Specialist Broker Prime Professions http://www.insurancejournal.com/news/international/2013/04/02/286720.htm Tue, 02 Apr 2013 10:13:15 +0000 http://www.insurancejournal.com/?p=286720 Willis Group Holdings announced that it has “further enhanced its offering in the executive risk market by agreeing to acquire, through its subsidiary Willis Limited, PPH Limited and its subsidiary Prime Professions Limited (together referred to as Prime Professions),” a …

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]]> Scottsdale Insurance Agrees to Pay $1M to Fired Pennsylvania County Employees http://www.insurancejournal.com/news/east/2013/03/26/286043.htm Tue, 26 Mar 2013 13:57:52 +0000 http://www.insurancejournal.com/?p=286043 A group of northeast Pennsylvania county workers will share a $1 million settlement that will end five years of federal litigation over firings they alleged were politically motivated. The (Scranton) Tribune-Review says Lackawanna County’s former insurance provider agreed to pay …

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]]> Directors and Officers Liability Market Firming: Towers Watson http://www.insurancejournal.com/news/national/2013/03/14/284647.htm Thu, 14 Mar 2013 11:00:15 +0000 http://www.insurancejournal.com/?p=284647 The directors and officers liability market continued to see price increases in 2012, with more private/not-for-profit organizations reporting rate increases than public organizations but, according to a new industry survey. Overall, the D&O marketplace is in a state of transition …

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]]> How Agents Help Nonprofits in Hard Times http://www.insurancejournal.com/news/national/2013/02/25/282555.htm Mon, 25 Feb 2013 16:46:26 +0000 Don Jergler http://www.insurancejournal.com/?p=282555 Still struggling through the recession, the last thing the nonprofit sector needed is the negative publicity generated by Jerry Sandusky and Lance Armstrong. The recession was hard on just about everyone, particularly the nonprofit arena and those who provide services …

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]]> Where to Find the Best Possible Cyber Coverage http://www.insurancejournal.com/news/national/2013/02/19/281713.htm Tue, 19 Feb 2013 16:41:36 +0000 http://www.insurancejournal.com/?p=281713 There are many cyber insurance products available for purchase, and each is somewhat unique. Some products are more comprehensive than others. Some cyber insurance products are combined with insurance policies of another type; for example, technology errors and omissions liability …

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]]> U.S. Commercial Insurance Prices to Firm in 2013: Marsh http://www.insurancejournal.com/news/national/2013/01/30/279352.htm Wed, 30 Jan 2013 17:12:31 +0000 http://www.insurancejournal.com/?p=279352 Rates for commercial lines insurance will continue to rise in 2013 thanks to above average losses, low investment returns and receding reserve releases. However, according to a new report published by Marsh, traditional signs of a conventional hard market have …

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]]> 2012 Landmark Year for Workplace Class Action Litigation: Study http://www.insurancejournal.com/news/national/2013/01/14/277389.htm Mon, 14 Jan 2013 17:07:20 +0000 http://www.insurancejournal.com/?p=277389 When it comes to complex employment-related legal disputes, 2012 will be considered a landmark year, according to a new report on employment class action litigation. Many of the key rulings of 2012 in class action cases hinged on the U.S. …

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]]> General Star Enhances Accountants Professional Liability Program http://www.insurancejournal.com/news/national/2013/01/11/277168.htm Fri, 11 Jan 2013 17:06:19 +0000 http://www.insurancejournal.com/?p=277168 General Star Management Co. has made a series of revisions to the policy for its accountants professional liability program. Available exclusively via program administrator Pearl Insurance, the product is currently available in 28 states. The coverage is written on an …

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]]> E&O Risks When Writing Long-Term Care Insurance http://www.insurancejournal.com/news/national/2012/12/13/273860.htm Thu, 13 Dec 2012 16:14:55 +0000 Curtis M. Pearsall http://www.insurancejournal.com/?p=273860 As Americans do their best to plan for retirement, all it takes is a visit to a financial planner to realize the importance and value of long-term care insurance. The goal of purchasing it is two-fold: retaining as much of …

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]]> Commercial Lines Rates Up 5% in November: MarketScout http://www.insurancejournal.com/news/national/2012/12/06/273005.htm Thu, 06 Dec 2012 16:52:48 +0000 http://www.insurancejournal.com/?p=273005 The overall composite rate for insuring commercial accounts in the United States ticked up 5 percent in November 2012 compared to the same month in 2011. According to MarketScout’s Commercial Lines Market Barometer, by coverage classification, property, excess liability, general …

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]]> ProWriters Acquired; Opens as Independent Managing General Underwriter http://www.insurancejournal.com/news/national/2012/11/28/272026.htm Wed, 28 Nov 2012 16:08:08 +0000 http://www.insurancejournal.com/?p=272026 West Chester, Pa.-based ProWriters (www.prowritersins.com), formerly a professional liability division of Venture Insurance Programs, has become an independent managing general underwriter (MGU). Brian Thornton, the new president of ProWriters and a 13-year veteran of the insurance industry, has acquired the …

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]]> Agency E&O Outlook: Competition, Hard Market, Healthcare Effects and More http://www.insurancejournal.com/news/national/2012/11/27/271744.htm Tue, 27 Nov 2012 15:12:12 +0000 Andrea Wells http://www.insurancejournal.com/?p=271744 Firmer insurance prices and an upward trend in agency revenues are signs of good times for most independent agencies. These same trends, however, are reflected in today’s insurance market for agency errors and omissions coverage where they can pose challenges …

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]]> Alterra, Ullico Casualty to Offer U.S. Professional Liability Program http://www.insurancejournal.com/news/national/2012/11/26/271509.htm Mon, 26 Nov 2012 11:00:32 +0000 http://www.insurancejournal.com/?p=271509 Alterra Capital Holdings Limited’s subsidiary Alterra America Insurance Co. has entered into a long-term partnership with Ullico Casualty Group, Inc. (UCG), a subsidiary of Ullico Inc., that will allow Alterra to participate in the U.S. multiemployer and governmental fiduciary liability …

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]]> Schinnerer Adds Small Business Miscellaneous E&O Policy http://www.insurancejournal.com/news/national/2012/10/11/266089.htm Thu, 11 Oct 2012 10:00:21 +0000 http://www.insurancejournal.com/?p=266089 Victor O. Schinnerer & Co., a managing general underwriter, is adding to its professional liability offerings with a new miscellaneous professional liability (MPL) insurance program for small businesses. Schinnerer serves as the access point for retail agents and brokers on …

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]]> Commercial Lines Pricing Jumps 6% in Q2: Towers Watson http://www.insurancejournal.com/news/national/2012/09/10/262448.htm Mon, 10 Sep 2012 14:36:14 +0000 http://www.insurancejournal.com/?p=262448 Commercial insurance prices experienced the largest rise in eight years, a new industry survey reveals. In aggregate, commercial lines pricing jumped by 6 percent during the second quarter of 2012, the sixth consecutive quarter aggregate prices rose for all commercial …

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]]> Catlin Names Curran to Head London Casualty Operations http://www.insurancejournal.com/news/international/2012/08/15/259369.htm Wed, 15 Aug 2012 10:50:00 +0000 http://www.insurancejournal.com/?p=259369 The Bermuda-based Catlin Group Limited announced that Daniel Curran has been appointed Head of Casualty for Catlin’s London based underwriting operations. He will have responsibility for “a wide range of business classes underwritten by the Catlin Syndicate at Lloyd’s and …

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]]> General Star’s Real Estate Appraiser E&O Program Now Available in N.Y. http://www.insurancejournal.com/news/east/2012/07/25/257136.htm Wed, 25 Jul 2012 16:47:07 +0000 http://www.insurancejournal.com/?p=257136 General Star Management professional liability coverage for real estate appraisers has been approved and is now available in New York on an admitted basis. Underwritten by General Star’s Professional E&O Division, coverage is provided by General Star National Insurance Co. …

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]]> Former Topeka, Kansas, Deputy Fire Chief Files Discrimination Lawsuit http://www.insurancejournal.com/news/midwest/2012/07/25/257082.htm Wed, 25 Jul 2012 16:05:39 +0000 http://www.insurancejournal.com/?p=257082 A former Topeka deputy fire chief is seeking more than $1.3 million in a federal discrimination lawsuit filed against Topeka and a firefighters union. The lawsuit was filed by Kathy Petty, a former deputy chief of the fire department, against …

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]]> Zodiac Insurance Services to Distribute IronPro Small Business Coverages http://www.insurancejournal.com/news/national/2012/07/16/255838.htm Mon, 16 Jul 2012 16:50:12 +0000 http://www.insurancejournal.com/?p=255838 IronPro, the U.S. professional and management liability unit of Ironshore, has announced a strategic alliance with Zodiac Insurance Services, Inc. focused on the coverage needs of small business enterprises. Zodiac Insurance Services will distribute IronPro’s suite of professional and management …

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]]> Baldor Electric to Pay $2M to Settle Bias Investigation http://www.insurancejournal.com/news/southcentral/2012/06/27/253149.htm Wed, 27 Jun 2012 16:23:08 +0000 Chuck Bartels http://www.insurancejournal.com/?p=253149 Fort Smith, Ark.-based Baldor Electric Co. has agreed to pay $2 million to settle a discrimination allegation by the U.S. Labor Department, but the company denied bias in its hiring practices. The Labor Department alleged the company blocked nearly 800 …

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]]> The Business of Insuring Correctional Facilities http://www.insurancejournal.com/news/national/2012/06/21/252439.htm Thu, 21 Jun 2012 15:45:44 +0000 Andrea Wells http://www.insurancejournal.com/?p=252439 Montana State Prison inmate files suit for $2.2 million in federal court after he injures a toe when his foot got caught in a grain auger at the prison dairy. A Howard County, Indiana, inmate files a lawsuit claiming the …

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]]> Public Companies Underestimate Risk of Directors and Officers Lawsuit: Survey http://www.insurancejournal.com/news/national/2012/06/18/252014.htm Mon, 18 Jun 2012 15:22:30 +0000 http://www.insurancejournal.com/?p=252014 Public company executives may be in for a surprise lawsuit. Despite the odds that they and their directors will be sued in the next 12 months, a new Chubb Public Company Risk Survey has found that more than 80 percent …

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]]> Mitchell to Head Willis’ FINEX Asia-Pacific Unit in Expanding Market http://www.insurancejournal.com/news/international/2012/06/14/251565.htm Thu, 14 Jun 2012 12:23:04 +0000 http://www.insurancejournal.com/?p=251565 “As companies continue to expand within the Asia Pacific region and beyond its borders, they are becoming increasingly exposed to risks such as Directors and Officer’s (D&O), Cyber and Professional Liability, in addition to threats stemming from mergers and acquisitions,” …

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]]> U.S. SEC Dealt Blow in Financial Crisis Case http://www.insurancejournal.com/news/national/2012/05/23/248574.htm Wed, 23 May 2012 14:35:31 +0000 http://www.insurancejournal.com/?p=248574 The U.S. Securities and Exchange Commission was dealt a setback in its cases tied to the financial collapse when a federal judge dismissed large parts of its case against former executives at failed mortgage lender IndyMac Bancorp. In a verbal …

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]]> The Hanover Furthers Its West Reach With New Pacific Region http://www.insurancejournal.com/news/west/2012/04/04/242127.htm Wed, 04 Apr 2012 15:21:43 +0000 http://www.insurancejournal.com/?p=242127 The Hanover Insurance Group Inc. is launching a second region in the Western U.S. A newly created Pacific Region will be led by David Kuhn, who has joined The Hanover as regional president. This new territory includes branch offices in …

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