Investment advisors and money managers frequently forego professional liability coverage. Now that some notable funds have imploded, perhaps they’ll see why they need coverage. With luck, they’ll bestir themselves to purchase it.
I have often cautioned my agents about the unfavorable (from the insured’s and broker’s perspective) broadness of an “arising from” exclusion preamble. There are many exclusions for which this wording is unavoidable, but the impact is horrendous. In the case of insureds that have an incidental or vicarious exposure to bodily injury/property damage claims, unauthorized [...]
Continue reading about The Dreaded “Arising From” Exclusion Wording
In the midst of turmoil and economic downturn, opportunities exist. Identifying and capitalizing on them is the key to success.
Industry pundits suggest a gradual, prolonged hard market is on the way. Is underwriting sanity returning? Will the abysmally soft pricing of today yield to more reasonable market conduct?
Continue reading about Advisen suggests long-term hard market on the way
Insolvency exclusion in wholesaler/MGU policy goes too far. Excludes claims arising from agent’s inability to pay. Jeopardizes policyholder in the case of any cancellations for non-payment.
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