Agents frequently insure entities on whose boards they serve. There are inherent conflicts and dangers in this business-building approach. Exercise Caution!
Continue reading about Caution! — Agents on Boards – 2/4/10 Knowledge Knugget
Many agents serve on boards of directors, frequently non-profit, sometimes for-profit, and end up writing the entity’s insurance. From a D&O perspective, this creates an inherent conflict of interest, and from an Agents E&O perspective, often creates an uncovered cause of loss, should a claim arise. I think most agents who write insurance under these [...]
Agents are often befuddled when a professional liability carrier refuses to provide an additional insured endorsement or excess limits appear to be too expensive.
Continue reading about Quirks in the PL World – 1/7/10 Knowledge Knugget
D&O policies are not intended to cover professional services, even though the entity and the employees are insured for their wrongful acts.
Continue reading about D&O Policy for Professional Exposures?
Inability to trigger an extended reporting period can rob a retired professional of peace of mind.
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