As a business owner or leader, you know the unpredictability of the market first hand. And as a result, you’ve learned to make decisions and take risks amid political, economic and regulatory uncertainty – all of which can lead to fresh exposures, liabilities and claims.
That’s why you need a plan to protect your business from claims denials. One that considers where you are today and where you’re going. One that understands your business risks and continues even after you purchase the right coverage. It should include a broker that advocates for an exception based on your unique circumstances, asking the carrier to overlook an unpresented loss your business took this year, or urging them to take your side when it comes time to settle a claim or lawsuit.
The plan should consider the following three key risks that today’s business leaders face, often leading to devastating balance sheet losses:
- Third-party exposures
- Coverage gaps
- Regulatory oversight
In the latest version of our Broker Insight Report, you’ll learn how these risks are covered by D&O, EPL, GL, Business Interruption (BI), Professional Liability (PL) and Cyber insurance and how they work in tandem like pieces of a puzzle to cover you, with your specific risks in mind.
Here’s a sample of the real management liability claims stories our brokers share in The Broker Insight Report:
A toy company on the verge of bankruptcy couldn’t afford to pay its biggest creditor, so the creditor went after the personal assets of the company’s CEO.
A tax-consulting firm gave inaccurate advice to a small business that subsequently filed misstatements with the IRS, resulting in fines and an audit exposure.
A physician’s office with no Cyber insurance experienced a network breach, exposing 200,000 patient records.
A disgruntled worker brought a wrongful termination claim to the EEOC, who then expanded it into a class action lawsuit involving several hundred current employees.
Still think you’re in the clear? Read the full Broker Insight Report.