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 circumstances [...]
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?
For most policies you will ever write, your insured is the entity that is the Named Insured. However, there are a couple of exceptions, and the nature of the exception can affect how you interact with your insureds.
The exception that’s weighing on my mind at the moment is D&O coverage. Even when you write an [...]
Bankruptcy courts may keep insureds from purchasing extended reporting periods. But should that prohibit individual insureds from taking steps to protect themselves?
Continue reading about Tail, tail, wherefore art thou, tail?
