General Risk Management Archives - Page 4 of 9

2 03, 2023

Baby Boomers Impact on Financial Lines Insurers of Investment Advisers
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Baby Boomers Impact on Financial Lines Insurers of Investment Advisers

@PLUS, E&O, Fiduciary, General Risk Management, Misc. Lines

Baby Boomers Impact on Financial Lines Insurers of Investment Advisers

By PLUS|2023-03-02T08:57:17-06:00March 2, 2023|@PLUS, E&O, Fiduciary, General Risk Management, Misc. Lines|0 Comments

The significant impact that the large aging baby boomer population will have on Investment Advisers and, by extension, financial lines insurers underwriting is underway. Ripple effects of retirement, decumulation and wealth distribution directly impacts adviser income and may result in conflicts and refocus toward more aggressive, riskier investment strategy. Being able to navigate this investor profile shift and insure advisers requires understanding of the tremendous influence the Boomer generation has on the economy and equity markets. According to 2020 records from the U.S. Census Bureau, Boomers, born in the two decades following the end of World War II (between 1946 and [...]

Trends & Challenges in the Environmental and Construction Professional Liability Space

By PLUS|2023-03-06T13:56:50-06:00February 6, 2023|@PLUS, A&E, Construction Professional Liability, Environmental Professional Liability, General Risk Management, Misc. Lines|0 Comments

The specialty lines insurance landscape is ever-changing. This is especially true for the environmental and construction-related professional liability marketplace, which is constantly bombarded by new regulations, policy changes and ongoing carrier reforms. The 2023 Market Update, which is issued annually by RT Specialty’s Environmental and Construction Professional (RT ECP) Practice recently highlighted the organization’s insights into the “state of the marketplace.” Highlighted are the latest trends and challenges influencing the terms and conditions of leading insurance products like: Contractors Pollution Liability (CPL) Pollution Legal Liability (PLL) General Liability / Pollution Legal Liability (GL/PLL) General Liability / Contractors Pollution Liability / [...]

Insurer Does Not Have to Indemnify Broker in Professional Negligence Case

By PLUS|2023-01-05T11:52:03-06:00January 23, 2023|@PLUS, General Risk Management, PL Insurance|1 Comment

Assessing appropriate policy limits is a daunting task for any insurance broker. Errors in judgment can result in significant losses for the client as well as insurers. Businesses have an interest in maintaining affordable coverage, but also need to ensure that they are adequately covered by insurance should the worst scenario occur. Businesses look to insurance brokers to help them properly assess their risk and determine the amount of coverage required to minimize that risk. When a broker provides inaccurate advice and their clients find themselves in the pickle of having lacking insurance coverage, the broker may be on the hook [...]