More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. As parties find themselves without the coverage they expected after a catastrophe, it appears to be a natural reflex for them …
Binding Summaries. A significant risk unrecognized by most producers and CSRs is the risk of being sued by the agency’s own insurance companies. A large proportion of E&O suits that make it all the way to court are brought by …
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 …
The soft market has made the job of insurance agents very difficult the last few years. Competition has been extremely fierce, and premiums so low that agents have had to fight for business and write more accounts just to maintain …
The scope of the investigations that are unfolding in the wake of the charges against Barclay’s Bank that it rigged the London Interbank Offered Rate (Libor) have taken on the proportions of a major catastrophe. “17 of the 24 largest …
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. …
Insurance agency errors and omissions (E&O) situations and solutions from consultant Chris Burand. Tip #3 Do you follow-up in writing when your insurance proposal is rejected? The failure to take this step can result in some insureds going without insurance …
Insurance agency errors and omissions (E&O) situations and solutions from consultant Chris Burand. Tip #2 Always use a coverage analysis checklist on new and renewal business! When was the last time you went to the hardware store or grocery store …
Insurance agency errors and omissions (E&O) situations and solutions from consultant Chris Burand. Tip #1 When was the last time you checked to make certain your producers and agency staff were using current and up-to-date proposals? Using outdated material is …
Five Star Healthcare, a division of Crump Insurance Services, has added an insurance facility to provide coverage for managed care service providers. The product consists of a single-policy solution providing multiple coverage options. Available coverages include miscellaneous E&O, directors & …
