Recent studies from Victor O. Schinnerer show that besides residential projects, schools and colleges generate the highest number of claims and the most expensive claims, particularly in New York, New Jersey, Pennsylvania, and Massachusetts. This is due to a number of factors.
Our Customer Service Representative, Rynne O’Connor, recently took the trip to Philadelphia to attend training sessions with RLI Insurance Company. Rynne spent one-on-one time with underwriters and reviewed RLI’s risk appetite and underwriting guidelines for P&C lines (BOP, Auto, WC, and Umb), and how certain credits are applied to quotes/premiums in order to ...
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This week, our account managers took a day trip to Hartford, CT to visit with attorneys Donald Doeg and Ben Berger to discuss various construction projects in the Connecticut area as well as current trends in the Architect & Engineer industry. Thanks Don and Ben!
Continue Reading →The insurance that protects your company in the event that a client alleges you made a mistake that caused them a loss is extremely important. For dentists and doctors, this is called malpractice insurance. For design professionals, this is called Professional Liability, Errors and Omissions, or E&O coverage. Whatever you wish to call it, it covers the errors (or omissions) that your company has made, or the errors that your client perceives your company has made.
As an architect or ...
At Maloney & Company, LLC, we’ve been talking more and more about different coverages that are becoming very important. Employers Practices Liability Insurance (EPLI), Directors and Officers Liability (D&O), Crime, and Cyber Liability are included in this mix. Let’s talk a little bit about Crime Insurance:
Commercial Crime Insurance covers money, securities, and other property against a variety of criminal acts that occur inside and outside the premises of your business due to external threats and/or even your own ...
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Well, the likelihood of being sued by an employee is now three times greater than experiencing a fire loss. In just 2014, the Equal Employment Opportunity Commission received nearly 90,000 discrimination charges that year. 65% of these claims were groundless, but those employers still had to shovel out costs of investigating and defending against them. Along with claims from employees, many service-oriented businesses ...
Continue Reading →2014 was a record year for data breaches, and the numbers will only rise. The number of U.S. data breaches that were tracked in 2014 hit an all-time high of 783, according to the Identity Theft Resource Center. Since 2005, there have been in excess of 5,000 data breach incidents, involving over 675 million records. Keep in mind, that this number only encompasses those reported, many breaches fly under the radar every day.
Eva Velasquez, the president and CEO of ITRC, ...
Continue Reading →A workers’ compensation policy will usually extend to cover employees who are hired in one state while temporarily working in another; the benefits would be from the state of hire. It becomes a sticky situation when the state in which the employee is injured provides higher ...
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We can assume that courts will take a broad view of telecommuters and find coverage wherever possible due to the public policy nature of workers’ compensation. But what is considered the “workplace”? ...
Continue Reading →Over the past few months, Maloney & Company, LLC has welcomed the addition of a new Account Manager and an Attorney, to help us further provide state-of-the-art risk management and insurance brokerage services to Design Professionals. Kara received her Juris Doctor Degree from Western New England College School of Law and has been licensed to practice law since 2011. She provides risk management services and valuable legal insight to our clients. Erik graduated from Marist College with a BS in Business Administration/Finance and ...
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