Zarek Taylor Grossman Hanrahan LLP’s Post

As we approach the main insurance renewal period for Social Housing Providers there are some points to consider about your current D&O cover.... Part 2: Absolute’ exclusionary language – ‘based upon arising from or in connection with’ style wordings. These mean that any resultant claim for failure to train, put in place procedures, fund, or consider the implications - would not be covered. We have seen with Housing Association D&O policies some Insurer’s will apply Absolute Professional Indemnity, Bodily Injury, Cladding, Medical Malpractice exclusions even when no professional advice is offered, no care services are delivered and with no presence of cladding. Many markets have a standard set of exclusions they will apply, regardless of the risk characteristics presented, but this should not be the case. As examples: ♦️Accepting a PI exclusion where there is no advice offered. ♦️Where there is medical support many will push both a Medical Malpractice exclusion and also a Bodily Injury exclusion. Accepting the latter in addition to the med mal carves out any injury, slips, trips, illness etc. And yet many brokers don’t query. If you would like to discuss the adequacy of your cover please feel free to reach out to myself or Anthony Mann - Cert CII at JM Glendinning (Insurance Brokers) Ltd #insurance #socialhousing #directorsandofficers

2Busy2Read is MNC’s approach to summarising long industry papers into a bite-size 2 minute read allowing you to keep on top of the latest regulatory and industry information. This edition summarises the Actuaries Institute paper entitled "Summary of Work Capability Assessments in Individual Disability Income Insurance (IDII): Introduction and Considerations for Actuaries”. Note that the commentary in the article represents MNC’s views and does not necessarily reflect the views of Actuaries Institute. We recommend those interested in further detail read the original paper in its entirety https://bit.ly/3VJN6bl And subscribe to our newsletter to get regular 2Busy2Read editions along with other informative articles and updates. https://lnkd.in/dYvk_VaV #disabilityincome #insurance #actuaries #datascientists

Clearly giving policyholders very little say when it comes to insurance claims and having policies worded in such a way that all the authority to make decisions rests with Policy Expert, is a profitable position bearing in mind this investment. The policies in place allow the insurer to insist on what contractor undertakes the work and withdraws the option to utilise a contractor of their choice, even for competitive pricing scenarios. Furthermore, the policy wording prevents assessors from representing Policy Expert clients, stripping individuals of the opportunity to challenge their insurer. This overwhelming control by an insurer over its policyholders is deeply troubling, yet undeniably profitable! #Claims #Insurers #InsuranceOptions Policy Expert

Did you know these are 6 off the things that workers compensation insurance can cover? #workerscompensation #businessinsurance #businessneeds #smallbusiness #homebusiness #insurancepolicy #insuranceagent #washingtondc #dc #districtofcolumbia #maryland

Some businesses avoid workers' comp insurance requirements, but this reckless behavior endangers both employees and the company's future. More in our latest blog ⤵ ⤵ ⤵ #insuranceagent #workerscomp #insurancebroker #tulsa #eaglenationalinsurance #oklahoma

We're here to provide genuine solutions and support. While work-related injuries can be frightening for the injured worker, the claims process should not be. #claims #insurance #underwriting #claimsmanagement #workplaceinjury #safety #workerscomp #suport #casemanagement

The answer is simple - double or triple the EQC levy and extend it's coverage to include parts of the economy that insurers are selectively refusing to ensure.  Insurers who provide evidence that they indeed offer reasonable premium and coverage offers to all New Zealanders could receive a refund of part of the fee. Insurance companies that abuse their position and refuse coverage without good reason or increase premiums too high can simply be told they are not welcome in New Zealand.  Market failure needs to be addressed somehow. https://lnkd.in/g5gfc-Ww

My company clients who have been involved in the longhaul journey to securing indemnity from the major insurers in the business interruption claims I have been handling are also starting to see further payments out for the additional claims I have been making under s.13A Insurance Act 2015 which implies a term into all insurance contracts requiring insurers to pay claims within a reasonable time. Caselaw is scarce but Insurers are clearly anxious not to set a precedent in the courts arising from the delay caused as they have resisted valid claims by challenging the interpretation of clauses such as “at the premises” through the courts! There’s a short time limit after payment out of the main claim to pursue a claim for additional damages and you need to be tenacious but I’m finally seeing success for several of my clients sounding in the tens of thousands! The large sums agreed in addition to the indemnity has also helped to ease the costs burden my businesses have suffered in pursuing insurers in the first place. Anyone who is struggling with their insurers or has been paid out but feels they are still out of pocket should definitely consider a review with me to see if there’s anything additional to be claimed. Time is of the essence though! #businessinterription #insurance #Covid19

*** NSW seeks feedback on ESL (Emergency Service Levy) reform options *** Excerpts from the Insurance News article: The NSW Government ⭐ has released a consultation paper ⭐outlining property-based options to replace the emergency services levy on insurance, ⭐ as it moves forward with funding reforms. Treasurer Daniel Mookhey and Emergency Services Minister Jihad Dib say the consultation is designed to ensure new arrangements deliver the best outcome. “The NSW Labor Government ⚠️has learned from the mistakes of the former government, ⚠️which did not proceed with its fire and emergency services levy in 2017.” Options include models based on ⭐property capital improved values, ⭐unimproved values and ⭐gross rental values. The paper also suggests ⭐a fixed charges option ⭐that could vary depending on residential, commercial, industrial and farm land use categories, or reflect services costs. The Government says ⚠️emergency services funding needs are expected to rise as climate change drives more frequent and intense extreme weather events, and ⚠️a rising levy under current arrangements would make insurance more unaffordable. Emergency services agencies are ⭐estimated to require contributions of $1.9 billion to fund their operations in 2023-24, ⭐with the levy on insurance premiums providing $1.4. billion. ✅The consultation paper is open for feedback until May 22. More details can be found here. #insurance #insurancenews #insuranceindustry PFS Consulting

https://lnkd.in/gkDqr68y Workers’ compensation insurance provides protection to the employer against the statutory liabilities in the following circumstances when workers are injured during a workplace accident:- Stay updated on this through this article. #insurance #workerscompensation