Insurance Journal » Professional/Management/Employers Liability http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 18 Apr 2014 01:58:11 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 Chicago-Based Schmitt Joins Worldwide Facilities to Professional Liability Team http://www.insurancejournal.com/news/midwest/2014/03/18/323588.htm Tue, 18 Mar 2014 15:36:34 +0000 http://www.insurancejournal.com/?p=323588 Worldwide Facilities Inc. added William (Bill) Schmitt to its professional liability team. He will work out of Worldwide’s Chicago, Ill., office. Schmitt has 20 years of professional liability insurance experience, primarily in lawyer’s professional liability, and has an in-depth knowledge …

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Dealey, Renton in California Hires Olson http://www.insurancejournal.com/news/west/2014/03/13/323263.htm Thu, 13 Mar 2014 18:47:21 +0000 http://www.insurancejournal.com/?p=323263 Oakland, Calif.-based Dealey, Renton & Associates Insurance Brokers has hired professional liability and risk management specialist Michael Olson. Olson is charged with driving a variety of growth initiatives at DRA. He comes to DRA with experience serving the risk management …

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Young Joins Swett & Crawford’s Dallas Professional Services Team http://www.insurancejournal.com/news/southcentral/2013/12/18/314641.htm Wed, 18 Dec 2013 06:54:49 +0000 http://www.insurancejournal.com/?p=314641 Swett & Crawford, part of the independent global wholesale and reinsurance broking group Cooper Gay Swett & Crawford (CGSC), announced the addition of Ben Young to its professional services practice group in Dallas office. Prior to joining Swett & Crawford, …

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Ironshore Canada Launches PL Coverage for Private Equity Risks http://www.insurancejournal.com/news/international/2013/11/27/312572.htm Wed, 27 Nov 2013 17:12:23 +0000 http://www.insurancejournal.com/?p=312572 IronPro, the professional and management liability unit of Ironshore Canada Ltd., has introduced a professional liability policy for Canadian-based private equity and venture capital firms to protect against portfolio investment risk exposures worldwide. IronPro’s private equity liability insurance policy is …

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Kentucky Judge Hits Accounting Firm with $99M Fraud Judgment http://www.insurancejournal.com/news/southeast/2013/11/21/311916.htm Thu, 21 Nov 2013 15:00:23 +0000 http://www.insurancejournal.com/?p=311916 A large Chicago-based accounting firm has been hit with a $99 million judgment stemming from a fraud lawsuit brought by a Kentucky family that owns dozens of hotels and more than a half-dozen casinos around the country. Kenton (Kentucky) Circuit …

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Insurance Network of Texas Announces New Austin Location http://www.insurancejournal.com/news/southcentral/2013/11/18/311635.htm Mon, 18 Nov 2013 23:29:09 +0000 http://www.insurancejournal.com/?p=311635 Insurance Network of Texas announced it opened new location in Austin on Nov. 15 that will serve as headquarters for its professional services division. The new location is headed by industry veteran Gary Beck. The Professional Services Practice Group aims …

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ThinkRisk, Aspen Launch New Private, Non-Profit Management Liability Program http://www.insurancejournal.com/news/national/2013/10/31/309947.htm Thu, 31 Oct 2013 16:15:29 +0000 http://www.insurancejournal.com/?p=309947 ThinkRisk Underwriting Agency, a division of RSG Underwriting Managers, LLC, and Aspen US Insurance have launched a new national management liability package program.  The product is available on an admitted basis in most states and offers multiple coverage lines for …

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ProWriters Launches Small Business Online Quoting Platform http://www.insurancejournal.com/news/national/2013/10/29/309564.htm Tue, 29 Oct 2013 16:31:52 +0000 http://www.insurancejournal.com/?p=309564 ProWriters is now providing agents and brokers access to online quoting and binding for small business professional liability insurance with general liability and/or a business owners policy (BOP). Quotes for small business risks can be accessed from an online portal …

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WKFC Launches Miscellaneous Professional Liability Program http://www.insurancejournal.com/news/national/2013/10/28/309465.htm Mon, 28 Oct 2013 16:51:56 +0000 http://www.insurancejournal.com/?p=309465 Ryan Specialty Group’s WKFC has launched a miscellaneous professional liability program with the Chubb Group of Insurance Cos. (Chubb). The miscellaneous professional program is available for more than 100 classes of business that are not covered by traditional coverage. The …

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Fireman’s Fund Names Dipasupil Vice President http://www.insurancejournal.com/news/west/2013/10/24/309128.htm Thu, 24 Oct 2013 14:59:31 +0000 http://www.insurancejournal.com/?p=309128 Novato, Calif.-based Fireman’s Fund Insurance Co. named Jay Dipasupil vice president of professional liability. Dipasupil will lead Fireman’s Fund’s professional liability business, and will be responsible for managing the professional liability line of business, specifically professional services and healthcare. Dipasupil …

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Allied World Launches Admitted Lawyers Professional Liability Product http://www.insurancejournal.com/news/national/2013/09/19/305694.htm Thu, 19 Sep 2013 15:47:24 +0000 http://www.insurancejournal.com/?p=305694 Allied World U.S. has launched a new admitted lawyers professional liability product: Allied World LPL Assure. LPL Assure includes provisions specifically addressing privacy and network security wrongful acts, with coverage up to the full policy limit for no additional premium. …

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RSC Opens Professional Practices Group in California http://www.insurancejournal.com/news/west/2013/09/11/304870.htm Wed, 11 Sep 2013 17:33:55 +0000 http://www.insurancejournal.com/?p=304870 Risk Strategies Co., a national insurance and benefits brokerage and risk management firm based in Boston, launched a new professional practices group concentrated in California. The group specializes in providing professional liability and errors and omissions insurance, property/casualty insurance solutions …

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CFC Enhances Management Liability Policy http://www.insurancejournal.com/news/national/2013/08/15/301837.htm Thu, 15 Aug 2013 04:42:39 +0000 http://www.insurancejournal.com/?p=301837 Specialist lines underwriting agency CFC Underwriting has upgraded its management liability policy, ExecSurance ML. ExecSurance ML is a management liability policy designed specifically for the needs of the modern day small- and medium-sized businesses.  Brokers and their clients can pick …

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Law Firms See Rise in Malpractice Claim Frequency, Severity http://www.insurancejournal.com/news/national/2013/06/27/296979.htm Thu, 27 Jun 2013 15:24:33 +0000 http://www.insurancejournal.com/?p=296979 Multi-million dollar payouts for legal malpractice claims are climbing, and so are the total number of claims for law firms, in general. A new study by insurance broker Ames & Gough found that most leading legal malpractice insurers reported more …

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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 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 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 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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