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    Socius Scoop – Fall/Winter Newsletter 2019

    September 1, 2019

    Management and Professional Liability

    Claims Alleging ADA-Noncompliant Websites: What can insureds do to protect themselves?

    By: Michael G. Hoy, J.D.

    As some companies and nonprofit entities are painfully aware, an entire cottage industry of plaintiff attorneys who target public establishments for noncompliance with the Americans with Disabilities Act (ADA) has existed for many years. Previously, those attorneys focused on the ADA compliance of physical features of the bricks-and-mortar premises of public establishments—primarily, whether facilities or transportation vehicles are properly accessible for individuals with physical disabilities.

    Read more

    A Few Recent Management and Professional Liability Placements

    Account TypeLimitsPremiumOperation
    GL/ E&O Sexual Abuse$1M / $3M$60,000Foster Care having coverage non-renewed
    Reps and Warranties$6M$185,000$31M transaction size
    Private D&O / EPL$2M$40,474Celebrity backed “beauty” experience
    NakedD&OTail$10M (2 carriers)$100,000 No previous D&O cover & placed D&O tail coverage post acquisition
    D&O/EPL / Educators Legal$3M$106,000School District with claims history
    MedMal E&O /Tech E&O /Cyber/GL $1M / $3M$9,475Telemedicine service providing testosterone replacement therapy

    D&O Rates Skyrocket in Hardening Market

    By: Judy Greenwald

    Policyholders are facing significant increases in their directors and officers liability insurance for the first time in several years, and some experts expect the trend to continue over the next 18 to 24 months. Securities class actions and litigation following high-profile events are leading drivers for recent price hikes in the sector, they say…

    Read More

    300+ Terrifying Cybercrime and Cybersecurity Statistics & Trends

    By: Andra Zaharia

    With global cybercrime damages predicted to cost up to $6 trillion annually by 2021, not getting caught in the landslide is a matter of taking in the right information and acting on it quickly.

    We collected and organized over 300 up-to-date cybercrime statistics that highlight…

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    Social inflation making professional lines “trickier”

    By: Bethan Moorcraft

    Social inflation is pushing up liability loss costs in the professional lines space. It’s a tide that has turned slowly over the past decade, with long-tail liability claims only now starting to impact on insurers’ loss reserves. As a result, the professional lines insurance space – which can incorporate coverages like professional liability, directors & officers, errors & omissions, general liability, and cyber insurance – is starting to tighten up and premium rates are firming…

    Read More


    Property and Casualty Liability

    Active Shooter / Active Assailant Insurance

    By: Frank Scott, A.C.I.I., C.P.C.U.

    Many recent events have made us realize there is a need for most industries to think about carrying coverage for “Active Shooter/Active Assailant Insurance” which can be defined as coverage for a premeditated, malicious physical attack by an active assailant at a covered location, who is present and armed with a weapon (including handheld instruments, small arms, explosives and vehicles)…

    Read more

    A Few Recent Property and Casualty Liability Placements

    Account TypeLimitsPremiumOperation
    Wind/Hail Only$3,500,000$26,000.00Co-Op in Broward County
    Package - Prop/GL/HNOA$1,864,978$8,606.00Office Building - LRO in Cape Coral, FL
    Builders Risk Key West34mil$199,000County Buildings
    Deadly Weapons Protection35mil$114,000.00 Marathon and Festival in Las Vegas
    Property w Wind22mil$85,000.00Warehouses
    Excess liability5mil lead excess$102,000.00Distributor of Concession Products

    Accident Reports Now Ready Minutes After Crash on Smartphone, Says Telematics Firm

    By: Jim Sams

    The company that helped make driver safety monitoring ubiquitous among auto insurers is now offering a product that can write accident reports within minutes of a crash.

    Cambridge Mobile Telematics (CMT) announced the launch of Claims Studio, an accident reporting system that the company says will speed up claim processing times…

    Read More

    What to Expect When Expecting a Hard Market

    By: Rodney T. Nubin, Senior Vice President and Casualty Practice Leader

    All industries have cycles of contraction and expansion or in insurance terms hardening and softening. Typically the contraction or expansion, regardless of the industry, will last between two to ten years. What’s been unusual about our industry is the soft market started as far back as 2004. From 2004 to around 2012 we experienced a truly soft market. Around 2012 the market bottomed out. From 2012 until about 2017 we have seen pockets of the market attempt to harden only to experience moderate softening again in the years to come…

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