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Directors and Officers liability (D&O) insurance is a complex coverage form.  There is no “standardized” policy form in the marketplace - every insurer’s form is different from the next, and two policies from the same insurer can differ greatly with the addition of a variety of endorsements.  That’s why when you purchase D&O coverage you need

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Tags: D&O, Directors & Officers Liability, wrongful act

There are two predominate classes of policies are written on Claims-Made policy forms which often require a discussion of Tail Coverage: Management Liability (D&O, Employment Practice Liability, Fiduciary, Cyber) and; Professional Liability forms (E&O, Malpractices, Lawyers Professional, Accountants Professionals, etc.) Here's the basics of Claims-Made & Tail Coverage: For a claim to be covered in a claims-made

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Tags: claims-made, D&O, management liability, Professional Liability, tail coverage

I forgot to post this on my own blog, but back in June I had the pleasure of sharing some time with Rebecca Twomey at Criteria for Success' podcast called "Let's Talk Sales". It was the first podcast I had ever participated in and thought it was a lot of fun - if you'd like to

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Handling your D&O policy in an M&A Transaction Merger and acquisition activity continues to hit record levels in almost all industries today.  One important issue that needs to be addressed is what do you do with your D&O in an M&A transaction? Yes, all your other policies need to be addressed as well, but during a

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Tags: Change in Control, D&O, Transactions

We have written about the topic of properly classifying employees in the past, but there is continued crack down by regulatory authorities and insurers about classifying workers properly with regard to NY workers compensation.  Are workers employees or independent contractors? Under the New York Workers Compensation Board Rules most workers are classified as employees for rating

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Tags: employee, independent contractor, workers comp

Several changes are on the immediate horizon for New York Employers when it comes to sexual harassment training and documentation.  This document New York Fair Employment Laws  will give you a broad overview of the employment issues in New York State and New York City coming up in October. The most notable requirement is that this impacts

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Tags: employment practice liability, sexual harassment

A loss sensitive rating plan...... such as a high-deductible plan is an alternate method of financing an employer’s workers compensation risk from guaranteed cost programs.  Under a guaranteed cost policy, an employer pays a “fixed” premium each year based on the company’s rating classifications and payrolls, the one element which can vary during the course of

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Tags: high-deductible workers comp, Loss sensitive rating plans, workers comp

Workers compensation is often the biggest insurance pain point for manufacturers and other mid-market employers in New York.  Rates are high, a company with “average” claims experience will usually have an elevated experience rating modifier, and there seems to be a perverse element in the workers compensation system that keeps employees out on workers comp longer

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Tags: risk management, safety, workers comp, workers compensation

How I discovered and codified The Strategic Risk Process. In 2017 I was in the second year of my membership in The Strategic Coach program (an entrepreneurial coaching program) and I was challenged to discover and qualify what my “Unique Ability” was. As Strategic Coach describes it, Unique Ability is a superior skill or talent that

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Tags: risk, risk management, strategic risk management

As its name denotes, a high deductible workers comp policy or program is a method of insuring workers compensation risk with the employer assuming some of that risk in a deductible of $100,000, $250,000 or even higher per claim, and an insurer taking the remaining risk on. These types of policies are reserved for larger employers

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Tags: high-deductible workers comp, worker compensation insurance, workers comp