OneBeacon Insurance Group member, OneBeacon Professional Insurance (OBPI), has launched a broadened lawyers’ professional liability (LPL) coverage so that its protections will now include network security and privacy (NSP) liability. Lawyers can access this new offering in either of two possible ways, which are: 1. As an LPL policy endorsement 2. As its own standalone coverage According to the OBPI senior vice president of the LPL division, Kim Noble, these days, a law firm’s lifeblood is its information systems, and it is vital to protect those systems, as they may…
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Study shows small business owners trust independent insurance agents more than financial institutions
The Hanover Insurance Group, one of the largest property/casualty insurers in the U.S., has released the results of a new study. The study shows that small business owners have more trust for independent insurance agents than financial institutions that also offer insurance coverage. The study is part of an attempt by Hanover to understand how changes to the insurance industry and the business world are affecting small businesses. The results of the study will likely be used by Hanover to build new insurance products targeting small businesses. Trust is becoming…
Read MoreCalCEF introduces new insurance initiative aimed at growing the alternative energy industry
When it comes to alternative energy, insurance is usually the furthest thing from people’s minds. Insurance, however, may hold the key to the future of renewable fuel, according to the California Clean Energy Foundation (CalCEF). CalCEF has long been a proponent of alternative energy, but both consumers and investors have been slow to warm to the concept of sustainability. While the reasons behind sluggish adoption are numerous, the foundation believes that risk may be a major deterrent to investors. This has led the foundation to propose a suite of private…
Read More“SLICE” Pizza parlor insurance now available to restaurant owners
There is a growing trend of specialized insurance and it has now added another branch to its offerings, with a new type of policy – which has been called SLICE – that has been created to provide coverage to pizza parlor owners. The EPIC Programs Group, an insurance brokerage based in California, has announced that the “Safety, Loss, Control, Insurance, Coverage, Expertise” program they offer will now be speaking specifically to the liabilities faced by the owners of pizza parlors who have drivers that make deliveries. The program is already…
Read MoreBuying business insurance to protect yourself and your company
Just as it is important to obtain insurance coverage when you own a house or a car, it is equally important to protect your business. If you are the owner of a company of any size, it is highly recommended that you speak with an independent business insurance agent in order to find out about the types of coverage that are available to you, and to help decide which ones are right for you. This is a decision that should not be rushed, as shopping around will help you to…
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