A single cyber event can create multiple exposures with potential effects on one or more of a company’s insurance policies.
Cyber underwriters grappling with liability from such events would do well to learn from property underwriters who have a wealth of experience addressing similar issues in the following three areas: aggregation exposure, business interruption and risk management.
Annamaria Landaverde, cyber practice leader, Business Risk Partners, said coverages for cyber intrusions and data breaches are leading to broader coverages under crime, general liability and property policies.
“I’m being bought out!”
“We’re merging with an agency five times our size that will take our revenue to a whole new level!”
While expressions of excitement like the ones above might be music to the ears of an owner considering selling an agency, beware!
When it comes to selling an insurance agency, I’ve heard my share of mixed results during 25-plus years working in the industry and underwriting specialty risk — often for insurance agents and brokers whose firms are in the process of merging or being acquired.
Some sellers happily sail into
It’s in part because of cases like this that a little-known corner of the insurance market has been growing, and fast. These days, almost half of large employers buy insurance coverage for claims of discrimination and harassment: it’s called Employment Practices Liability Insurance, and it was almost non-existent 25 years ago.
Workplace sexual harassment has been in the news once again as several women have publicly alleged that they were sexually harassed by the former head of Fox News, Roger Ailes.
It’s in part because of cases like this that a little-known corner of the insurance market has been growing, and fast. These days, almost half of large employers buy insurance coverage for claims of discrimination and harassment: it’s called Employment Practices Liability Insurance, and it was almost non-existent 25 years ago.
Workplace sexual harassment has been in the news once again as several women have publicly alleged that they were sexually harassed by the former head of Fox News, Roger Ailes.
It’s in part because of cases like this that a little-known corner of the insurance market has been growing, and fast. These days, almost half of large employers buy insurance coverage for claims of discrimination and harassment: it’s called Employment Practices Liability Insurance, and it was almost non-existent 25 years ago.
BRP underwrites and administers professional liability insurance, also known as E&O (errors and omissions); management liability insurance for directors and officers, employment practices, fiduciary liability, crime and excess; cyber liability insurance; and similar products for banks and broker/dealers.
