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What is Fiduciary Liability?

Fiduciary Liability is often combined with Directors & Officers (D&O) Liability and Employment Practices Liability (EPLI) to form the basic management liability package or portfolio.  But it often confused for fidelity bond coverage or employee benefit coverage (which is found in many general liability policies). Fiduciary liability coverage is playing a growing and important role … Read More

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Fiduciary Liability and The Home Depot 401k Claim

In April 2018 The Home Depot was sued in a fiduciary liability action where plaintiffs alleged that the company placed the employees 401k retirement plan in poorly performing funds and where they overpaid for investment advice.  Plaintiffs are seeking $140 million in damages. The class action complaint represents nearly 200,000 current and former plan participants … Read More

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No One Likes To Be Sold

When you think of “being sold” I’m sure that the proverbial used car salesperson pops into your head, or maybe the ever persistent insurance sales person, right? Insurance sales has a bad rap.  Comedians even make fun of insurance salespeople.  Woody Allen once said:  “That there are worse things in life than death.  Have you … Read More

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The Six Figure Exclusion

I recently presented our Diagnostic Insurance Coverage Review (Step three of our Unique Risk Strategy) to a prospective client, and something they said is still ringing in my ears. We found that the current agent had covered the client’s business personal property in their warehouse on their Ocean Cargo policy, which isn’t uncommon.  But what … Read More

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Compassion & Communication – Two Keys to Successful Outcomes in Workers Compensation Claims

There are multiple facets to managing worker injury claims, but one of the most important which is not found in any claim filing instructions are managing expectations through compassionate communications. It may seem odd to think about compassion in a business sense, but take a step back and think of the injured worker for a … Read More

Workers' comp insurance

What is Employer’s Liability in Workers Comp?

Employer’s Liability = Protection from Lawsuits Most employers are familiar with their worker’s compensation insurance, it is a mandatory form of coverage in New York when you have employees.  But the policy is actually separated into two parts.  Part One covers the statutory obligations the employer has to protect workers when they are injured on … Read More

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How Much is Enough Liability Protection?

A lot of prospects and clients ask me: “How much is enough liability protection?” It’s not easy to answer, but we often recommend that in addition to primary general liability and auto liability limits of $1,000,000 or $2,000,000 that they should also consider at least a $1,000,000 umbrella policy. I say at LEAST one million but … Read More

cheap business insurance

Why You Won’t Find a Quote Engine on Our Website

I read an interesting article in the NY Times about how online quoting of insurance is squeezing insurance agents and their commissions. Disruption? The internet has certainly disrupted several industries and changed forever the way we purchase some goods and services. It wasn’t that many years ago that you actually went to a travel agency … Read More

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