By: Paul Lefcourt, Co-Founder and Management Liability Practice Leader
Over the last 12-24 months, several management liability insurance (“MLI”) carriers have shifted their underwriting appetite/guidelines nationally for nonprofit and privately-held risks, most dramatically outside of California. Instigated primarily by newer market entrants, these changes include one or more of the following:
• Decreased rates • Automatic renewal options
• Decreased retentions • Multi-year renewal options
• Expansions in coverage, although mostly “tweaks” at this point
• More carriers offering lower ($25k – $150k) wage and hour defense cost sub limits…
Account Type | Limits | Premium | Premium |
---|---|---|---|
E&O | $5M | $40k | Investment Advisor |
D&O/EPL | $1M | $15k | Country Cub with previous EPL claims |
Cyber/ tech E&O | $3M | $40k | Medical Billing and Document Management company |
GL & PL | $2M | $85k | 180 person skilled nursing facility |
By: David M. Katz
Cyber crime groups are increasingly operating like traditional businesses. Will this new professionalism lead to more attacks on companies?…
Source Euclid Exec
Today’s society is incredibly litigious. That McDonald’s has been sued for serving coffee that’s too hot and Starbuck’s has been sued for serving drinks containing too much ice is telling…
By: Angelo J. Gioia
Depending upon your scope of your agency appointments, there will be numerous occasions that you need the services of a Wholesaler when placing a difficult or usual risk….
By: Derick Stitik, SVP and Property Practice Group Leader
Strike FOUR, you’re safe?! Believe it or not fellow advisors, February marks the fourth time we have conducted a pre-inspection of a property risk in the past eight months that has resulted in a win for the client…
Account Type | Limits | Premium | Operation |
---|---|---|---|
Property Including Wind | $14,042,310 | $125,000 | Pre-Manufactured Home Builder |
Property Including Wind | $763,134 | $10,000 | Fertilizer Storage Facility |
Terrorism | $21,715,675 | $6,525 | Warehouse |
Property Including Wind | $17,226,329 | $93,442 | Private School |
Property Including Wind | $24,346,000 | $69,080 | Car Dealership |
By: Gloria Gonzalez
Extreme weather is a major concern of insurance professionals, but o the typical radar, extreme solar weather could inflict damages and disruption to rival a large hurricane…
By: Elizabeth Blosfield
The general sense across the 21st Annual Property and Casualty board during the financial experts panel seemed to be cautious optimism…
By: Dana Hartwell, Socius Insurance Services
In 2017, we are continuing to face a headwind in the property and casualty market. While it appears the market is bottoming out and the decrease in rates has slowed, they are still not improving. In this financial landscape, it is remaining difficult to maintain the size of a renewal book of business…
By: David Dybdahl
Market capacity for Environmental Insurance remains at an all-time high, and that is not expected to change anytime soon. However, market penetration is still very low at only 3%…
By: the Readers of IRMI Update
As the market continues to be soft brokers need to find ways to bring value, other than just price, to the insurance process. One of the essential ways to bring value to the process if by providing a client with risk transferring and management ideas to help them run their business smoothly…
Account Type | Limits | Premium | Operation |
---|---|---|---|
General Liability/Liquor Liability | $1M/2M | $84,962 | Restaurant |
Commercial Auto | $1M | $102,898 | Environmental & Energy Consulting |
General Liability | $1M/2M | $79,567 | Tank and Gas Line Install |
General Liability | $1M/2M | $15,000 | Residential Roong Contractor |
Contractor's Pollution Liability | $1M/2M | $16,953 | Environmental Contractor |