Cyber Source

How Gapping of Coverage Occurs in Cyber Liability Insurance

There are many different ways to Insure against Cyber Liability Insurance exposures in today’s marketplace.  The last 10 years have seen a lot of change in the coverage, as well as the number of carriers who write it.  Many package insurance policies now provide some form of protection against Cyber risks. While retail agents have become more aware of the need to offer coverage, as much as...

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Why a Business Should Buy Employment Practices Liability Insurance

In 2018, 65% of all businesses are now buyers of this essential business coverage. It is no longer that is just an employer/employee workplace risk- the risk also extends to third parties that are exposed to your employees and workplace. This includes customers, vendors, delivery persons, visitors, and any others you or your employee comes into contact with in a corporate capacity. A key finding...

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Employment Practices Liability Insurance- What’s In a Number?

Statistics is an important tool.  Extremely useful for gaining support for or against making a decision, they really are much more than that.  Statistics tell a story about the subject matter, and in EPLI, the statistics are very revealing indeed. We use a lot of numbers and percentages, and sometimes they are used so much that we just glaze over them.  In one ear and out the next.  But today...

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Wage and Hour Coverage: What’s New?

Wage and Hour Coverage, also known as FLSA coverage, provides for a sublimit of coverage to defend an Insured against claims arising from wage and hour disputes under the Fair Labor Standards Act. The importance of this coverage for all commercial risk types must be considered when quoting the Employment Practices Liability Insurance. The FLSA is continuously reviewed as complaints continue to...

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The Cost of the D&O Claim

It’s strange that 1 in 4 private companies who responded to the survey have had a D&O claim, yet so many private companies say they did not need the coverage.  That is a really big disconnect of perception to reality.  Fortunately, they decided to purchase the coverage after previously not doing so, BEFORE they had their claims.   The average reported loss was $399,394 in 2017, which...

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Why Private Companies Don’t Purchase D&O

In looking at the top reasons private companies do not buy D&O insurance today, the respondents to the survey led to the conclusion, according to their survey, that “there’s a clear disconnect between executive assumptions about their companies’ exposure and the potential risks that they actually face. An important contributing factor to that disconnect may come from the fact that...

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