Small Business Cover.
Victor 0. Schinnerer & Co. Inc. has introduced Tech Vantage, an insurance program for small businesses in the technology industry. The program includes errors and omissions coverage for custom programmers, consultants, data processors, system designers, Web designers, Internet service providers, and network/communication providers. The program also offers copyright and...

Dodging the crossfire: as media platforms expand in scope and complexity, so do the new challenges falling on the shoulders of risk executives in the entertainment industry. Exposure to errors and omissions liability is high, and getting higher. Fortunately, E&O products are changing with the times.
If you'd pulled a Rip Van Winkle over the past few years and just awakened to the land of media and entertainment errors and omission coverage, you'd be encountering a brave new world. "I don't think there's any doubt in this age of media convergence that every...

Banks protected against derivative bets gone wrong.
Byline: Priti Patnaik NEW DELHI: Bankers selling exotic derivative products may well have been insured against lawsuits filed by companies that incurred big losses from such deals. Sources said, a policy called the Directors and Officers (D&O) liability, which covers damages or litigation costs in the event...

How low is too low? Astute buyers of E&O liability insurance limits for technology companies need to consider the size of the contract when shopping around. The more complex a product, the higher the needed limits.
A Web site/e-business platform developer was contracted to develop a company's Web site. Time passed, and the customer became frustrated with the vendor's failure to meet project milestones. In addition, the customer alleged that the vendor misrepresented its capabilities and supplied personnel not capable of completing the...

Liability products. (Insurance Coverages).
The Chubb Group of Insurance Cos. has released a suite of integrated liability products. The suite includes updated versions of Chubb's commercial general liability and umbrella liability insurance policies and the new Reputation Injury & Communications Liability policy, which is designed to help protect firms from the costs associated...

Indemnity Provisions and Your Subscribers.
Indemnity Provisions and Your Subscribers By Ken Kirschenbaum Every properly drafted security contract contains an Indemnification Provision, a requirement by insurance companies wise enough to require contracts between their policy holders (the security companies) and subscribers. As these provisions seem to generate the...

What do your brokers owe you? (Broker Focus).
Businesses tend to think of agents and brokers as professionals who owe a duty of care comparable to attorneys and accountants. But the professional status of agents and brokers varies from state to state, and the duty they owe their clients varies with their status. Businesses that...

A bizarre bazaar: mortgage holders demand that the problems with the home title be taken care of by a title insurance company. But the mortgage companies do not pay for, nor have any real incentive to contain the cost of insurance.
When did you last buy or sell a home? Do you recall that line item which demanded that you pay between $500 and $1,000 for home title insurance? You could find it toward the bottom of the closing document. It may have been listed there with the other incidental...

Errors & omissions.
CalSurance, a national insurance sales, service and support company, has enhanced its specialized errors and omissions program for broker-dealers with less than 75 brokers, the company said. The improvements now provide each broker-dealer with its own policy limits without sharing a master policy aggregate with other broker-dealers in the...

Errors & omissions.
CalSurance, a national insurance sales, service and support company, has enhanced its specialized errors and omissions program for broker-dealers with less than 75 brokers, the company said. The improvements now provide each broker-dealer with its own policy limits without sharing a master policy aggregate with other broker-dealers in the...