Our Blog: Professional Liability

Data breaches are soaring in recent years. Read up on this article written by Victor Reklaitis to learn more about this unfortunate surge. Get properly covered from a data breach with AJ Wayne & Associates!
https://buff.ly/2Fuds7W

Curious about how you can become an even better broker? Read up on what Rachel Coughlin has to say about working in the insurance broking business! https://bit.ly/2Hl08Zm 

Professional Lines Policy Cancellation – Proceeding with Caution, by Andrew J. Kelly, RPLU

The reasons a business has for terminating a professional lines insurance policy are often very different but can include the cancellation of an important vendor contract, low revenues, a change in business model, or even the termination of the business all together. Regardless of the reason for the desire to cancel coverage, it is important that an insured understand the consequences of policy cancellation not only with regard to the current policy, but past policies as well. I cannot tell you how many times in during my tenure …

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Read up on this industry article written by Brian Krebs to learn about skimmers and how you can protect yourself from fraud before it even happens!

https://krebsonsecurity.com/2018/02/would-you-have-spotted-this-skimmer/

Watch out, family-owned businesses can be sued too! Here at AJ Wayne, we have the staff to provide you with the services you need to protect your business. Contact us today for competitive, timely, and comprehensive service.

Read up on this industry article written by Mindy Pollack, “All in the Family – Family Businesses Are Sued by Employees, Too.”

http://bit.ly/2sbk7md

Here at AJ Wayne, we offer a variety of different coverages, including but not limited to:

• Professional Liability Insurance
• Cyber/Privacy and Security Insurance
• Excess Professional Liability
• Employment Practices Liability Ins
• Fiduciary Liability Insurance
• Crime Insurance
• Media Liability Insurance
• Directors and Officers Liability (For Profit and Nonprofit)

Our goal is to be the one stop shop for your client’s professional liability needs!

We will Research, Access, and Negotiate the best possible coverage options for you and your clients. Your risk has never been safer than it is with us. Please Call, Email, or Visit Us at www.ajwayne.com.

For the past eight years a debate has raged in Washington DC about what has become known as Obamacare.  This debate fundamentally involves whether healthcare should be public or private.  In 2008 the Affordable Care Act (ACA) was passed creating a slow firestorm over the religious, ideological, economic and political spectrums.  ACA weighed heavily in the 2016 election especially when voters opened the envelopes containing premium increase notifications.

Below is an outline of a real alternative to the ACA. It addresses everything Obamacare failed to enact in ways that preserve what is good about the act while assuaging both political persuasions.  …

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Navigating the Data Breach Insurance Landscape, by Andrew J. Kelly, RPLU

There are a lot of different policies in the market that cover the data breach exposure. Each insurance company offers many different levels of coverage that correspond to a wide range of premium levels. Particular attention should be devoted to how coverage is underwritten, if sublimits are offered for each insuring agreement, applicable exclusions, and how loss prevention and customer service are handled.

There are two ways insurance companies insure data breach exposure. The first method puts a hard limit on the amount of files to …

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Professional Liability Insurance Contract Compliance, by Andrew J. Kelly, RPLU

Changes to a professional liability insurance policy are inevitable. Whenever a change is requested, I always ask the agent if the reason for the requested change is due to a new contract requirement. It is important the insured understand the cost and coverage implications of any new contractual requirement.

The first concern that should be addressed is whether the professional services being offered in the contract are in line with what is already covered by the policy. Making an assumption that any new services are automatically covered …

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Property Managers Professional Liability Insurance – Understanding Key Issues, by Andrew J. Kelly, RPLU

 Property managers face a wide range of exposures that must be addressed correctly when placing their professional liability insurance. An experienced professional liability insurance broker will recognize that the professional liability policy for a property manager will reflect their dual responsibility to both the property owner and tenant.  Placing a policy for a property manager begins with recognizing and addressing issues that are unique to their profession as good faith custodians of the assets these professionals manage each day.

The first exclusion I look …

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