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There are approximately 2 million active real estate licenses in the United States alone, and housing sales are increasing.1 As of November 2016, the national home price index has surpassed its peak set in July 2006 before the last major recession.2 As sales increase and real estate agents become stretched, there is a potential for increased litigation from errors and…
Software errors and omissions can cause millions of dollars in financial stress to a company. From tennis shoes to canceled flights, a simple mistake could mean the end for a business. For example, the software that ensured proper fulfillment of Air Jordan basketball shoes had a glitch that resulted in unequal distribution, costing Nike a reported $100 million in lost…
3 insurance risks and insights associated with the fastest growing app in history Pokémon GO is the fastest downloaded mobile app of all time, and everyone is talking about it. Hitting number one on the app downloads chart in five hours, Pokémon GO now has more than 23 million people playing daily.1 Although more individuals are getting out of their…
With all your social media activity come legal responsibilities An overwhelming majority of recent court cases have decided that social media accounts are discoverable, including privately locked accounts, private messages, even deleted posts. The social media boom of the past decade has brought about a number of interesting and sometimes perplexing legal issues. Users posting information to sites Facebook, Twitter, Instagram,…
Two underwriting experts take the pulse of the medical professional liability market under the Affordable Care Act Insurance Market Source regularly taps its network of experts for insight into key trends and developments across the insurance landscape. Here Ken Rice, Director of Underwriting, Atain Insurance Companies, and Michael Muglia, Underwriter, Burns & Wilcox Professional Liability Center of Excellence, tell us…
Kidnapping. Piracy. Terrorism. The world is full of special risks that need covering—and full of opportunities for brokers capable of placing them As distinct as the worlds of accident, health, and special risks insurance are, a common thread connects them, says Rupesh Appannah, Senior Accident, Health and Special Risks Broker at Chesterfield Group in London. “The common denominator is that…
A business is three times more likely to be sued by an employee than experience a fire. In fact, over the last 20 years, employee lawsuits have risen nearly 400 percent, with wrongful termination suits jumping up more than 260 percent. Protecting your clients from wrongful acts arising from the employment process can be as simple as securing an Employment…
The 1374 trial of Stratton v. Swanlond was history’s first-ever recorded medical malpractice case. Back then, the plaintiff received 40 English pounds: worth about $38,000 (US) today1. In contrast, medical malpractice suits now cost the healthcare sector upwards of $35 billion with one out of every 14 doctors facing a suit every year2. The world has become more litigious…