Capture more business with second-tier market

Article Abstract:

Demand for malpractice or professional liability insurance is growing as new classes of professionals, including consultants offering specialized business expertise, are created concurrent with the downsizing of corporations. Consultants claiming a skill or competency which they offer to the public have liability exposure and need malpractice insurance to cover the risks. Approximately 20 insurance companies offer this specialized insurance coverage, and competition is so fierce that profit margins are thin.

Business consultants, Management consultants

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Study examines risks in nontraditional market

Article Abstract:

Many doctors in high-risk specialties are selecting nontraditional insurance carriers for malpractice coverage, according to a study of over 1,000 doctors at a hospital in Arizona. Rising malpractice costs and the Liability Risk Retention Act of 1986 have contributed to the increased use of offshore carriers and risk retention groups. Physicians in high-risk specialties should be aware of the risks involved in selecting nontraditional carriers.

Offices & clinics of medical doctors, Physicians & Surgeons, Offices of Physicians (except Mental Health Specialists), Physicians, Medical professions, Cooperative insurance

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How to safeguard against increasing E&O exposures

Article Abstract:

The errors and omissions (E&O) exposure of insurance agencies is increasing with the shift of processing, servicing, and underwriting to them from the insurance company they represent. Underwriting authority, instructions, and information exchange with insureds are the primary areas for E&O exposure. Documentation is the most basic procedure, but agencies must review and use checklists to see that a variety of appropriate coverages are offered.

Insurance Agencies and Brokerages, Insurance agents, brokers, & service, Insurance Agents & Brokers

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