In the dynamic world of real estate, the role of appraisers stands out as crucial. These professionals provide an unbiased assessment of property values, aiding in fair transactions and ensuring market stability. However, alongside their expertise comes a responsibility that extends beyond valuation accuracy: mitigating risks and protecting stakeholders. One vital aspect of this risk management is Errors and Omissions (E&O) insurance, which plays a pivotal role in safeguarding both appraisers and their clients.
Read MoreIn the complex world of insurance, professionals like agents and brokers serve as the crucial bridge between individuals or businesses and the insurance policies that safeguard their assets and mitigate risks. However, despite their expertise and diligence, mistakes can happen. Whether it's a miscommunication, a misunderstanding of policy terms, or a simple oversight, these errors can have significant consequences for clients. This is where Errors & Omissions (E&O) insurance steps in as a crucial safeguard for both the insurance professionals and their clients.
Read MoreAs legal professionals, attorneys constantly juggle various responsibilities and concerns. From managing cases to maintaining client relationships, their days are filled with complexities. However, amidst the myriad of issues that occupy their minds, one aspect that often keeps attorneys up at night is professional liability insurance. While it might not be the most glamorous topic, it holds significant importance in safeguarding both the attorney and their firm against potential risks and liabilities.
Read MoreLawyers professional liability insurance, also known as legal malpractice insurance, covers claims arising from errors, omissions, negligence, or misconduct in the provision of legal services. While the specific areas of practice (AOPs) with the highest and most severe claims may vary over time and depend on various factors, certain practice areas tend to carry a higher risk.
Read MoreOne of the most common sources of professional liability claims against a title agency is when one of the title agency’s employees falls prey to an escrow wire fraud scheme. Fortunately, there are many ways that a title agency can mitigate the risk of these claims from happening to them. As title agency business overall has slowed down in 2023 due to higher interest rates, now is a great time to employ some of these appropriate strategies.
Read MoreThere are benefits to admitted and non-admitted insurance carriers in today’s market depending upon the circumstances. Admitted carriers are licensed by the state and must comply with their state’s regulations, which verify policy forms, rates and requirements. Non-admitted insurance carriers, also known as surplus lines carriers, are not licensed or regulated by the state insurance department and typically provide more flexible coverage for risks that are considered high-risk or hard-to-place.
Read MoreOver the past year, law firms and their insurance carriers have experienced a rise in the frequency and severity of high-exposure legal malpractice claims. Today, lawyers need to have a strong and proactive risk management plan in place to prepare for a potential claim.
Read MoreCyberattacks and wire fraud are on the rise in the real estate industry. According to a 2022 survey by the American Land Title Association, 86% of respondents said the volume of cyberattacks either increased or remained the same in 2021 when compared to 2020.
Read MoreTitle Agents Errors & Omission (E&O) insurance protects the title agent’s business against baseless and legitimate claims. Commercial General Liability insurance is not enough. An E&O policy covers many of the items that a CGL policy does not, such as performance disputes, errors, and other liability issues.
Read MoreEach year, your law firm clients pay a premium for professional liability coverage. And many of those clients may remain claim free year after year. Are they entitled to a reward for good behavior?
Read MoreProfessional liability coverage can protect your client attorneys and their firm from costly malpractice claims.
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