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Blog

Posted: May 31, 2011

We’re seeing an increase in awareness and requests for cyber risk liability insurance, and we thought it would be a great time to discuss it. Cyber risk is an issue that affects every individual or company that conducts business over the Internet. At some point every Internet-related business must ask themselves two key questions: What are my particular cyber risks? Why should my business be covered by a cyber risk …



Posted in: Uncategorized

Posted: May 6, 2011

When purchasing a professional services company it is important to understand the risks associated with the prior services provided by the company being acquired.  This risk is mitigated with the purchase of an extended reporting endorsement or Tail Policy for the company being acquired.  There are several issues to consider when purchasing a tail policy.

1.  The current carrier may not offer a bi lateral tail and thus you would …



Posted in: Uncategorized

Posted: May 6, 2011

There seems to be another rush on acquisitions in 2010.  There are many issues relating to your E&O insurance policy that need to be considered. I have highlighted a few areas where you could run into problems relating to your errors and omissions insurance policy.

Change in Control Provisions

When a change in control of a company occurs (typically the sale of more than 50% of the voting stock), certain …



Posted in: Uncategorized

Posted: November 5, 2010

Cyberrisk is a term used to describe the risk of doing business over the Internet.  It includes risks associated with hacking, unauthorized disclosure of confidential information and general identity theft.  Professional Service Firms should consider purchasing insurance to protect against these risks. 
A cyberrisk insurance policy is an errors and omissions insurance policy designed to cover some of the risks noted below:

Hacking

Any computer that is connected to the …



Posted in: Uncategorized

Posted: October 16, 2010

By Mike W Smith

E&O insurance policies are written on a claims made basis, which means that the insurance coverage only applies to claims relating to wrongful acts occurring on or after the retroactive date in the policy and prior to the policy’s expiration date.  When a company ceases operations, is sold or otherwise decides to cancel their policy, it is necessary to purchase an extended reporting endorsement to protect …



Posted in: Uncategorized

Error Omissions
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