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    Socius Scoop – Summer/Fall Newsletter 2020

    May 17, 2021

    Management and Professional Liability

    Current Observations of the Management Liability, Professional Liability and Cyber Risk Marketplace Amidst the COVID-19 Pandemic

    By: Paul Lefcourt, Management Liability Practice Leader

    As COVID-19 has so clearly impacted our personal lives, we are also witnessing both immediate and subsequent effects on businesses as well. In response to these changes, and the underlying uncertainty on what the future may hold, we are seeing some Specialty underwriters making/ considering changes, which include, but are not limited to, the following:

    Read more

    A Few Recent Management and Professional Liability Placements

    ACCOUNT TYPELIMITSPREMIUMOPERATION
    PL/GL$1M/$3M$75,000Health Clinic providing Covid Testing in California
    Media$5M$44,000Journalism consortium
    Management Liability - D&O/EPL$1M$18,047AI/Machine Learning Software - Pre-Funding
    EPL$1M$28,742Denny’s Franchise Group of Restaurants
    Engineer E & O$1M/$2M x $25K retention$67,350Civil Engineering/Survey with losses on Admitted paper
    Cyber$2M/$2M x $10K$12,000Law Firm Cyber with Real Estate Exposure
    Reps & Warranties$5M$135,000Acquisitive Company
    PL/GL$1M/$3M$45,000Behavioral Healthcare Facility — counselors meeting with children via Zoom & Skype

    High Risk of Discrimination Claims as Employees Return to Work

    By: Bethan Moorcraft

    Small and medium-sized businesses (SMBs) could face a higher risk of discrimination claims and employment practices liability (EPL) lawsuits when their employees return to work once COVID-19 restrictions are lifted…

    Read More

    Escaping the COVID-19 Insurance Agent E&O Vortex

    By: Brent Winans

    We can be sure that the battle over insurance coverage for COVID – 19 related losses will keep politicians, attorney, and the courts engaged for years. We can also be sure that we will see an increase in agent errors and omissions (E&O) claims. So what can an agency do to keep from being sucked into this swirling litigation vortex?…

    Read More


    Property and Casualty Liability

    What Happened to My Property Quote??

    By: Derick M. Stitik SVP, Property Practice Leader Socius Ten, fifteen, or even thirty percent rate increases are pretty standard in property renewals these days! So what happened?…

    Read more

    Current Observations of the Property and Casualty Marketplace During the COVID-19 Pandemic

    By: Hart Humble, Business Development at Socius

    While we are all living with an incredible amount of uncertainty right now, both in our personal and business lives, one thing we do know for certain: now more than ever, we must stay abreast of change within the insurance market place. To that end, we would like to offer some insights to our retail agency clients and ultimately to our mutually insured clients regarding what we are seeing in the Property and Casualty marketplace.

    Read more

    A Few Recent Property and Casualty Liability Placements

    ACCOUNT TYPELIMITSPREMIUMOPERATION
    Builders Risk$37M$176KCoastal Bio-Med Lab
    Deadly Weapons Protection$1M$31,000Religious Institution
    Property including wind and GL$12M$20,000
    premium deposit
    (Monthly Reporting Form)
    Property$22.8M$105,000LRO Schedule of Restaurants
    Excess Flood$4.7M Excess of NFIP$15,700Hotel
    GL and Excess$1M/$2M Primary and
    $3M Excess
    $24,000Custom Home Builder
    Excess Liability$20M$81,000Gun Manufacturer
    GL$1M/$2M/$2M$26,500Security Guard
    GL/CPL/PL$1M/$2M$47,000Janitorial Contractor

    Excess Liability Capacity Shrinks as Rates Climb Higher

    By: Matthew Lerner

    Capacity continues to be an issue in the excess liability market as many carriers are cutting the limits available at renewal. Rate increases in this line of coverage continue to soar, with Aon reporting most accounts taking increases of 30% or higher…

    Read more

    In These Incredibly Trying Times, We Would Like to Provide a Little Levity and Humor for You

    By: Hart Humble, Business Development at Socius

    Twas the new month of March And all seemed quite normal. At least in the States No precautions were formal. But things started changing, and it started out west. You must shelter in place if you know what is best, San Francisco was shuttered, then New York, and L.A. Texas, and Florida, most states would obey…

    Read more

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