Law Firms and Their Insurers Feel the Pain of Bigger Malpractice Claims May 17, 2021
Even as law firms made adjustments to sustain their operations through the COVID-19 pandemic, they were unable to avoid the rising costs of malpractice claims. Indeed, the time period beginning in 2019 through mid-2020 marked the worst two years on record for legal malpractice claim payouts, according to a new survey by insurance broker Ames & Gough.
The survey also found insurers apprehensive about claims that may mature post pandemic; most reported a significant volume of claims last year with substantial reserves and large payouts.
Nine of the 11 insurers surveyed had participated in a claim payout in excess of $50 million in the past two years; two paid a claim between $150 million – $300 million and four paid a claim over $300 million. Altogether, the survey found the number of claims resulting in larger multi-million dollar payouts, and the amounts of t
San Fransisco, CA (PRWEB) May 12, 2021 Coalition has been named to Inc. magazine’s annual list of the Best Workplaces for 2021. Hitting newsstands May 18
San Fransisco, CA (PRWEB) May 13, 2021 Coalition, the leading cyber insurance and security company, today announced a partnership with Okta, the leading
Source: AAP/Darren England.
Small businesses are being urged by the Australian Securities and Investment Commission (ASIC) to lodge insurance claims to try to recover losses resulting from pandemic restrictions.
ASIC and the Australian Financial Complaints Authority (AFCA) want to boost the number of business interruption claims, after only 3,000 businesses of those that may be eligible for coverage have lodged claims since the pandemic began last March.
Business interruption insurance covers losses to trading caused by events such as infectious diseases and natural disasters. However, many policies include pandemic exclusions that prevent businesses from recovering losses due to COVID-19-related shutdowns.
Insureon Partners with Coalition to Help Small Business Owners Manage Cyber Risk
Insureon joins forces with a leading provider of cyber insurance and security to help safeguard businesses from cyber criminals
News provided by
Share this article
CHICAGO, April 6, 2021 /PRNewswire/
Insureon, the largest independent agency for the online delivery of commercial insurance to small and medium-sized businesses, today announced that it has partnered with
Coalition, an innovative provider of cyber insurance and security tools. Small and mid-sized business owners will now have access to Coalition s product set on all Insureon quotations. Coalition offers a suite of services that are unmatched in the industry, said Dan Kazan, Insureon s Chief Executive Officer. Their comprehensive cybersecurity offering provides SMBs with insurance, while also helping to prevent attacks through monitoring, patch management and other tools. It s a perfect fit for us and our clients.