The news over the past several weeks has unfortunately featured too many stories about mass shootings, particularly at workplaces. Disgruntled employees or unhinged customers enter a workplace and start shooting. In most cases several lives are lost, others are physically injured and still more will face emotional scarring and trauma following the event. It’s a sad … Read More
In my previous videos on Reps & Warranties Insurance, I discussed how many mid-market M&A deals are done with R&W insurance to help smooth out negotiations and protect both the buyer and seller from potential breaches of the representations made in the purchase and sale agreement. Reps & Warranties Insurance for Small Firms is now … Read More
The Business Insurance Review Process – Keeping You Out of the Danger Zone Having reviewed thousands of business insurance programs as both a practicing broker and as a consultant to the private equity industry for firms large and small, I can say with confidence that there’s a whole lot of mistake made in business insurance programs. … Read More
What is Timely Notice When Reporting a D&O Claim? There is a section known as Reporting or Claims Reporting in most D&O or Directors and Officers Liability Insurance policies. Within that section of the policy there will be wording that says something like: The insured shall give to the insurer written notice of any Claim as soon as practicable. … Read More
I get this question a lot from small business owners and I get it. You’re used to spending a certain amount on business insurance every year, and to increase that by, say, $2,500 or more to buy cyber insurance may be a big lift. So, let me take a minute and explain why most small … Read More
The Conduct Exclusion in D&O and E&O Policies. Today we’re going to look at the conduct or misconduct exclusion found in every D&O Director and Officers Liability and E&O – Errors and Omissions Liability Insurance policies. To start with, I’ve said many times that no two D&O or E&O policies are alike. Both are what we … Read More
What is MFA or Multi-Factor Authentication and why is your cyber insurer mandating that you have it? MFA or Multi-Factor Authentication is a cybersecurity tool that requires you to confirm your identity prior to gaining access to a network, system, or website using multiple factors. We are accustomed to providing a user name … Read More
Hedge funds, like other financial service firms, have serious exposure to potential theft of money and securities perpetrated by employees, criminals outside the organization, and digital hackers, intent on getting their hands on your assets. The huge sums of money invested in your fund(s) can be an attractive target for scammers and dishonest employees. But … Read More
What is a Broker of Record Letter? In the insurance business, a broker of record letter or agent of record letter is basically a letter of authorization that you, as the insured can use to fire your existing agent and hire a new agent to handle your business insurance with the insurance company you currently … Read More
I’ve produced a few videos that talk about the worker’s compensation experience rating modifier . In a nutshell, it is a rating factor in your worker’s comp policy that is specific to your firm’s claim experience compared to your peer group. But, what is a minimum modifier? Have more claims than your peer group – … Read More
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