Professional

Kidnap & Ransom Insurance: Protecting Your Clients

Kidnapping is a severe and historic issue in countless countries across the world.1 Approximately 800,000 people in the United States2 and 100,000 people in Mexico3 go missing annually. With so many people across the world at a high and continuously growing risk, Kidnap and Ransom insurance policies have become more important than ever. Kidnap and…

The Rise in Mobile Apps & Need for Tech E&O Insurance

Technology firms are beginning to silently carry the small business sector as 62 percent of small businesses already have, or are in the process of building, a mobile application to support their business. Of those businesses, 30 percent have revenue generating mobile applications or apps.1  With approximately two-thirds of the country’s small businesses depending on…

Cyber and Privacy: 10 Tips to Better Prepare Your Clients

145.5 million U.S. consumers were affected – nearly half of the population – after a data breach at Equifax in September.1 With the sudden, dramatic rise of data breaches across the globe, cybersecurity is at the forefront of insurance industry discussions. Nearly all companies today operate with an online component and even the greatest levels of…

Ask the Expert: Architects and Engineers E&O Coverage Gaps

Insurance Market Source regularly taps into its network of experts for insight into key trends across the insurance landscape. Christopher Stephens, Senior Underwriter, Professional Liability Centre of Excellence, Burns & Wilcox Canada and Nicole Greene, Director of Brokerage, Professional and Executive Liability Center of Excellence, Burns & Wilcox, share their insight on Architects and Engineers…

How Medical Liability Insurance is Changing

The elderly population is booming, set to double in size by 2050.1 As this increase occurs so will the number of facilities needing Allied Medical policies, including: medical clinics, hospice care, healthcare staffing, and adult day care facilities. Currently, premiums written in the property and casualty industry for Allied Lines equates to more than $9.1 billion,…

Rise of the Gig Economy Increases Need for Miscellaneous Errors & Omissions Insurance

Forty-three percent of the workforce in the United States is expected to be made up of freelancers by the year 2020, as compared to just 6 percent nearly 30 years ago.1 The rise of what is described “the gig economy” is driven by business professionals wanting greater autonomy outside of the 9-to-5 world. An increasing number…

Directors & Officers Insurance in the Nonprofit Sector

Insurance Market Source regularly taps into its network of experts for insight into key trends across the insurance landscape. Dario Nalli, Director, Executive Lines, Burns & Wilcox, shares his insight on Directors & Officers (D&O) insurance. Q: Why is a Directors and Officers (D&O) policy needed at the nonprofit level? Dario Nalli (DN): D&O, in…

CAPITALIZE ON REAL ESTATE E&O INSURANCE

Capitalize on Real Estate E&O Insurance

Just as home buyers insure their purchase, real estate agents need to safeguard the role they play in the transaction. Purchasing a home is one of the most emotional decisions a family can make. As the broker of that decision, a real estate professional’s relationship with the buyer can be a very personal one—leading to…

Defensive Measures

As cyber espionage and data breach threats escalate, new coverage strategies emerge to protect professionals from cyber vulnerabilities When Yahoo announced a data breach in which at least 500 million accounts were compromised, it was big news, but hardly an isolated incident. That same week, hackers went public first with a picture allegedly of First…

Trends, Tips, and Insights on Medical Malpractice Insurance

By 2020, the healthcare industry is projected to add over 4.2 million jobs.1 As a result, many retail brokers and agents are targeting this booming segment to grow their book of business. However, if a broker is unfamiliar with working on Medical Insurance policies they may overlook a coverage exposure that could result in a…