E&O Archives - PLUS Blog

13 03, 2023

Executive Summary: The Betterley Report’s Technology Errors and Omissions Market Survey February 2023
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Executive Summary: The Betterley Report’s Technology Errors and Omissions Market Survey February 2023

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Executive Summary: The Betterley Report’s Technology Errors and Omissions Market Survey February 2023

By PLUS|2023-03-14T11:33:57-05:00March 13, 2023|@PLUS, E&O|0 Comments

The Betterley Report’s Technology Errors & Omission Market Survey—2023 provides 84 pages of company comparison charts. These charts include important and detailed comparisons for each insurer, their market focus, specific coverage wording, extensions, capacity, and risk management services. Moreover, the Report highlights the positive growth in the market and spotlights the continuing problem of ransomware. You can read the executive summary in PDF form below and you can find additional report highlights and order the full report here. PLUS-Summary-Betterley-Report-Technoloy-Errors-and-Omissions-Market-Survey-February-2023Download Meet the Author Richard S. Betterley, LIA, is the president of Betterley Risk Consultants (BRC), an independent insurance and alternative risk [...]

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 [...]

Privette Doctrine: Not An Absolute Shield

By PLUS|2022-12-15T10:18:31-06:00January 5, 2023|@PLUS, A&E, E&O, General Risk Management, Misc. Lines|0 Comments

The "Privette Doctrine" is a well-accepted rule that has governed the liability of general contractors and property owners for workplace injuries suffered by a subcontractor's employee. In Privette v. Superior Court (1993) 5 Cal.4th 689, the California Supreme Court held that “Generally, when employees of independent contractors are injured in the workplace, they cannot sue the party that hired the contractor to do the work.” The rationale for this limitation was that the subcontractor's employee will usually be covered under the subcontractor's workers compensation policy. The courts have created various exceptions to this rule, including exceptions based on claims involving [...]