Insurance Coverage

Top 3 Agent EO Claims

As a property and casualty insurance agent, your clients rely on you to sell insurance products that protect them against a variety of damages. If you fail or misrepresent your products, you could face damages yourself without an errors & and omissions policy.

Here are common claims that you should have E&O for P&C agents.

Misrepresentation About a Product

What you need to understand about misrepresentation is that it is not always intentional. While lying about the features or benefits is considered misrepresentation, many carriers do not do it intentionally. For instance, you may misstate how a product works, leading to misconceptions about your client’s benefits.

Failure to Procure Insurance

About one in five of all claims against P&C agents occurs due to a failure to procure coverage. If you do not diligently shop for coverage, competently quote, sell or install solutions or do a thorough analysis of your client’s risks, you may be unable to provide insurance.

Failure to Identify Exposures

A part of ensuring that your client has adequate coverage is determining what the client’s risk exposures are. If you fail to identify exposure and your client suffers a property loss that he or she should have had coverage for, the client can file a claim against you.

Mistakes can happen in any industry. When your clients rely on you to provide adequate coverage, you cannot afford errors without having coverage for yourself.

Insurance Coverage

How ERISA Separates Employee Benefits Liability From Fiduciary Liability

Your business has general liability insurance and if you offer benefits you likely have employee benefits liability coverage as well. Businesses often ask agents to compare employee benefits liability vs fiduciary liability and wonder why they might need both. One of the answers is hidden in the details of The Employee Retirement Income Security Act, ERISA.

What Does ERISA Say?

ERISA specifically calls out the fiduciary responsibilities of anyone or any entity “who exercise discretionary control or authority over plan management or plan assets…[or] responsibility for the administration of a plan.” That means that all these parties: the business itself, the HR employees helping with benefits, even financial advisors who guide investment strategy for retirement funds can all be held personally liable when mistakes are made on benefits.

What Does It Mean For Your Business?

This clause is important because your EBL coverage won’t cover claims under ERISA. If a claim is made of breach of fiduciary responsibility your business is on the hook. This is a common scenario when a claim isn’t paid correctly which can happen for any number of reasons. Your legal costs are often covered under the EBL policy, but won’t pay settlements that arise from a breach of ERISA.

Claims because of denial of coverage are on the rise and only fiduciary liability insurance coverage will assure your business is protected.

Insurance Coverage

3 Ways Pre-Employment Physicals Help Businesses

Hiring new employees is a painstaking process. One of the many screening methods employers use are pre-employment physicals prior to the start of work. This can be helpful, especially to a company’s workers’ compensation insurance carrier. Here are the three ways mandating these physicals for new hires can help businesses.

Identify Pre-Existing Injuries

Injuries on the job are costly. Not only is there lost productivity associated with such incidents, but there is also the expense of accompanying workers’ compensation payments to consider. Identifying preexisting conditions for employees is a helpful way to know what was already present before the employee began working.

Shield the Company From Lawsuit

Knowing what health conditions an employee is facing will also help shield the company from lawsuits. For instance, if the employee has early stages of a disease like cancer that can be linked to a product the business makes or uses, it could be falsely attributed to the worker’s employment at the company.

Prevent Employee Turnover

It’s helpful to know if a new employee is physically capable of performing the work before the first day on the job. Rather than waste time and resources training an employee who will leave soon after, employers can instead rescind their offers and move on to the next qualified candidate.

Hiring new workers is costly and time consuming. Thoroughly pre-screening employees helps to make the process more fruitful.

Insurance Coverage

How HIPAA Insurance Protects Your Medical Practice

The web of companies tied together through HIPAA coverage is increasingly opaque and complex. You could certainly ask every entity downstream of your medical practice to give you the right to approve their subcontractors or simply shut your practice off from outside access, but neither of these options is realistic.

Why You Need HIPAA Coverage

With the move to centralized health records on the cloud, coupled with the rise in cybercrime, your patient records are at risk no matter how many BAAs you sign. HIPAA insurance as part of your professional liability insurance is the coverage that can keep your practice afloat despite a breach.

What HIPAA Insurance Covers

When you discover a breach of PHI or it is reported to you by one of your contractors you have a limited time in which to respond. You will have to contact everyone who could potentially be affected by the breach. You may have even agreed in your BAA to provide credit monitoring for anyone affected by a breach.

Beyond these costs, you could be liable for fines and penalties issued by the OCR. HIPAA coverage can pay for all or most of these costs.

Don’t consider a HIPAA breach as an “if” but a “when” and protect your business finances accordingly.

Insurance Coverage

Why You Need Rideshare Insurance as a Rideshare Driver

If you’re like most rideshare drivers you got into it to make a little money on a side hustle. Don’t let an accident while you’re working cut into your rideshare driving profits. Here are two reasons you need specialized rideshare insurance.

Your Auto Policy May Not Cover You

If you think your regular auto policy is enough coverage you could be in for a rude surprise when an accident happens. Failing to notify your insurance company that you’re driving for a rideshare will automatically negate any claim after an accident. As soon as you turn on the app for work you are no longer using your vehicle for personal use, which is what your insurance policy covers.

Rideshare Insurance Isn’t Adequate

Your rideshare company will tell you that when the app is on, you’re covered under their policy. The fact is there are gap periods in their policy that could leave you completely unprotected. Worryingly, some companies are dropping drivers that have accidents in the gap period.¬†Other times their policy simply doesn’t provide enough coverage.

To really protect those rideshare driving profits you need to be upfront with your agent about how you use your vehicle. With some research, you’ll find a good rideshare insurance policy that will protect you and other parties in case of an accident.

Insurance Coverage

EMR Is Important to Your Business

An Experience Modification Rate has a significant impact on the worker’s compensation insurance premium of a business. The EMR is a metric that insurers use to calculate worker’s compensation premiums; it takes into account the number of claims/injuries a company has had in the past and their corresponding costs. Using an EMR calculator by can help identify where your business is at.

How EMR Impacts Your Business

Because your EMR determines your worker’s compensation liability premium, it has a direct impact on your bottom line: the higher your risk rate, the more you pay for worker’s compensation insurance. The higher the EMR number, the more you will pay in premiums. The lower the number, the lower your premiums. With all other factors being equal, a high number can place your company at a severe disadvantage compared to competitors.

How To Help Improve Your Score

As with any type of insurance, the more you use it, the higher your premium. As a result, the simple solution is to limit the number of incidents that result in claims and losses. Of course, saying it is considerably easier than doing it. To help lower your EMR number, ensure that your business is training its employees on safe practices and strictly adhering to workplace safety policies.

It’s important to stay on top of your score by using an EMR calculator by Keeping that score low will improve your work environment and help control expenses.


Insurance Coverage

Risk Management Considerations for Music Festival Organizers

Organizing a music festival involves coordinating a lot of different efforts. In order to hold a successful and safe festival, organizers need to consider a variety of potential risks and strategize accordingly.

Security Staff

Personnel whose responsibilities involve maintaining security need clear directives about what activities they need to watch for. They also need training about how to safely address possible hazards or dangerous conduct.

Crowd Control

Festival grounds must be secured to prevent unauthorized access and keep crowds the size that they are supposed to be. It may also be necessary to restrict the number of attendees that may be present in each section of a viewing area to avert dangerously dense crowding.

Medical Resources

A festival with high attendancemay need to have some type of medical care available onsite. A risk management plan for music festival events should likely include a medical area with qualified personnel. It must be easily accessible to attendees as well as emergency responders.

Equipment Safety

Staging, lighting, and sound systems all need to be set up as safely as possible. An equipment malfunction could result in injury to performers or attendees.

All music festivals need to have a strong risk management strategy in place. Careful planning ca help avoid oversights that could lead to preventable accidents.

Insurance Coverage

The Importance of Technical Liability Insurance

If you are a technical consultant, then you work hard to provide excellent service to your clients. However, even the best projects can have problems. It is important to protect yourself against lawsuits with the right technical liability insurance policy.


Technical consultants draw on their expertise to advise clients in a multitude of situations. Each project is different, but some common risks are:

  • Incomplete work
  • Unfulfilled obligations
  • Errors or omissions
  • Incorrect advice
  • Negligence

Even if you are an experienced technical consultant, you may make an error or find yourself at odds with a client. Should the issue prove to be seriously damaging to your client, it could result in a lawsuit.


If you make a mistake during a job and do not have proper coverage, you may face a lawsuit. In that case, you can be responsible for:

  • Court expenses
  • Lawyer fees
  • Defense costs
  • Settlements

The right liability policy will cover the costs associated with a lawsuit. This protects your business and allows you to continue your career without suffering undue financial hardship.

Working as a consultant can permit you to learn and grow professionally as you interact with clients and lend your expertise. However, it is important to have the right insurance policy in place so you can enjoy peace of mind while you work.

Insurance Coverage

A Short Guide To Construction Insurance

If you are a property owner, developer, or contractor that is involved in a construction project, it is important that you make sure you are properly protected throughout the process. Construction projects are massive undertakings that involve many people and a lot of different risks. It is important that everyone involved is properly covered with construction insurance.

What Is Construction Insurance?

Technically, construction insurance is just a broad categorization of different insurance policies that can provide those involved in construction projects with protection. It is very important that everyone involved in a construction project has good insurance coverage as unexpected incidents can lead to massive financial losses.

How Much Does Construction Insurance Cost?

Each construction insurance policy’s cost can vary widely. Some of the factors that will influence how much each person will pay are:

  • The individual’s credit history
  • The individual’s experience
  • The size of the project
  • The location of the project
  • The coverage limits and deductibles

What Are The Different Types Of Construction Insurance?

There are many different types of construction insurance that can provide coverage for a variety of different people involved in the project. Some of the more common types are:

  • Builders risk
  • Contractor general liability
  • Commercial auto/truck
  • Inland marine
  • Workers’ compensation

Construction projects are massive undertakings that have a lot of potential for things to go wrong. Construction insurance can help make sure everyone is properly protected.


Insurance Coverage

How Preventative Maintenance Protects Your Hotel

As a hotel manager, it is your responsibility to protect hotel assets and use risk mitigation and preventative measures to protect the hotel. Instead of waiting for a safety hazard, hotel preventive maintenance can reduce the odds of legal claims against your establishment.

Protect Your Guests and Employees

Is your hotel prepared for an emergency? If you have a fire safety system installed, for example, when was the last time you checked the batteries or inspected the plans in place? You need to perform regular fire alarm checks and fire extinguisher checks. All rooms and main rooms should have working smoke detectors.

Protect Asset Damage

Power outages and plumbing failures can cause the most damage to your building. For example, if your building has draining issues or leaks, it can lead to flooding. Flooding not only leads to severe structural damage but can cause mold and mildew growth in your hotel. Mold on furniture and other assets can leave it unusable.

When it comes to the hotel business, it is your job to ensure that your facility runs smoothly. You have a responsibility to protect guests, staff and assets. To protect your assets, you need to invest in regular hotel maintenance. When everything is in working order, you are less likely to suffer damages due to an accident.