Your professional liability application is part of the policy

Mark StraussBusiness | Commercial Insurance, Professional Liability | Error's & Omissions

Do you know a professional liability application states the following: This application forms a part of your policy, if issued. What this means is the professional liability application you complete for coverage becomes a warranty and representation to the contract; if a claim happens and during the company investigation it is found there was a fraudulent answer on the application … Read More

Advice to Secure the Best Professional Liability Insurance

Mark StraussBusiness | Commercial Insurance, Professional Liability | Error's & Omissions

As a an insurance broker who works with businesses in securing professional liability insurance I frequently hear, “I’m putting this out to bid and the other companies have only needed some basic information to get me a quote. I’m wondering if I can get you some basic info and go from there?” I value my time and you should to. The … Read More

Professional Liability Insurance Claim Process

Mark StraussBusiness | Commercial Insurance, Professional Liability | Error's & Omissions

When it comes to professional liability insurance, the claim process can sometimes be frustrating. For this reason, it’s important that you be prepared. One of the best ways to do this is to make sure all the information the insurance company would need is available. Here are some helpful tips about the professional liability insurance claim process: Call Your Agent. … Read More

Things to Know About Professional Liability Insurance Cost

Mark StraussBusiness | Commercial Insurance, Professional Liability | Error's & Omissions

At a recent insurance renewal meeting with a client they asked one of the more difficult and challenging insurance questions to answer about their professional liability, they had asked “what goes into determining my professional liability insurance cost?” As is the case with insurance there is never a definite answer so I created a list of the general factors that … Read More

Purchasing a Professional Liability Extended Reporting Period

Mark StraussBusiness | Commercial Insurance, Professional Liability | Error's & Omissions

An existing client recently contacted me and advised that they would be selling all shares of their business to a new individual, as a result of this possible change I advised them of their duties to consider the purchase of the professional liability Extended Reporting Period. The first thing you need to understand is that most professional liability policies are … Read More