Although project contracts and insurance coverage offer essential protection, independent agents should encourage architects and engineers to remain vigilant with risk management and training to protect themselves from a volatile claims environment.
Before implementing artificial intelligence in your agency, understand the product and what it can do, Test the product before purchasing it, and simultaneously use human processes.
The wave of post-pandemic lawsuits has prompted independent insurance agents to review their errors & omissions (E&O) coverage and risk mitigation strategies.
“In the past, E&O coverage for seed dealers has been very cost-prohibitive,” says independent agent Shelly Turner. “Educating both clients and other agents on the availability of a lower cost, higher coverage option is a big focus.”
Skyward Specialty caters to media companies and content creators with new coverages for advertising agencies and public relations firms, creators of films, documentaries, television programs and more.
A well-documented agency file can mean the difference between outright vindication and a murky swearing contest that results in a lawsuit, settlement or both.
High-profile product liability lawsuits have been making headlines, pointing to several factors agents should keep in mind when offering product liability.
Generally, when consumers feel they are paying more and receiving less in return, problems arise.
As the frequency and severity of product liability claims continue to rise, the product liability market is facing some challenges.
The new policy addresses the evolving needs of the legal community as it relates to malpractice exposures.