Product Update

Insurance Agents and Brokers Exposures and Coverage Discussions Updated in Professional Liability Insurance

This Professional Liability Insurance release features a detailed update of the exposures and insurance coverage discussions within the "Insurance Professionals" section of the reference.

The discussions of licensing requirements and surplus lines regulations and underwriting factors have been updated. The types of information requested within an application for insurance agents and brokers professional liability coverage has also been revised to reflect the most current applications in the market.

Throughout the insurance coverage discussion, sample policy wording has been updated based on more recent policy forms, and different approaches have been added to the discussion regarding a number of provisions, including the following.

  • Acquisition provisions
  • Covered territory provisions
  • Punitive damages coverage
  • Hammer clauses
  • Subpoena inquiry coverage
  • Deductible reduction provisions
  • Insolvency exclusions
  • Loss of earnings coverage

Finally, a number of small sections have been added to the exclusions portion of the insurance coverage analysis, including discussions of the viatical settlements, promissory notes, anti-spam laws, patent/trademark/copyright infringement, employee benefits, employment practices, and electronic access of personal information exclusions.

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