Virtual University | Professional-Liability

Are Your Private-Sector Clients Aware of their Directors and Officers Liability Exposures?

Many experienced business owners are unaware of their need for a Directors & Officers (D&O) liability policy. According to a white paper on this issue developed by Gallagher, a Chubb study found that 25% of private companies surveyed had a D&O claim in the three years surveyed. The average cost of those claims, according to Chubb, was just under $400,000. This article will explain some basics of D&O coverage, private company exposures, and how to help your clients understand their risks.

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Comments On the Third Circuit Sustains D&O Policy’s Condition Precedent to Coverage, No Coverage for the Policyholder

A recent court finding on a D&O policy’s condition precedent to payment by the excess carrier bodes poorly for agents and insureds. Read on for more details on this court decision.

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Condo Cases of Crime and D&O Defects

Cases of criminal embezzlement within community associations are undeniable, and the crimes range in boldness and severity. Any D&O policy defects can leave your condominium clients uninsured.

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Executive Liability: Current Trends in D&O Liability and Insurance

Learn the current claims trends in D&O liability, where it's headed, trends in future claims, and the important D&O insurance coverage and policy wording issues.

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ISO's Professional Liability Forms

Effective June 1, 2017, Insurance Services Office (ISO) introduced the new Miscellaneous Professional Liability Policy (MI 00 01) along with a multitude of endorsements. This is the first in a series of insurance programs designed to address the professional liability needs of various risk types. These new forms are housed in Division Sixteen – Professional Liability – Other Than Medical of the ISO Commercial Lines Manual.

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Nuclear Verdict in Healthcare Will Raise Concerns for Healthcare Insurers

A missed healthcare diagnosis resulted in a whopping $111 million verdict in Minnesota, according to a recent Burns & Wilcox article. Read on to learn more.

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Should an Agency Purchase E&O Coverage from One of Its Carriers?

Agencies have many options available for the placement of their E&O coverage. For some agencies, one of the options is purchasing E&O coverage directly from one of their appointed carriers. However, this approach can be a double-edged sword. This article covers some of the inherent conflicts of interest in this decision.

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Why Do Insureds Need D&O Insurance?

It's relatively easy to convince a prospect they need CGL coverage. However, it may be difficult to convince them that they may need other forms of liability insurance such as Directors & Officers, Errors & Omissions, Employment Practices Liability, etc. The problem often involves a lack of understanding between the differences in these coverages and the exposures that trigger them.

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