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Professional Development

A Review of the Modern Claims Made Form

“Since its creation, “claims made” wording’s use has expanded outside of the “profession” and professional liability realm, finding use in diverse liability coverages. But the roots of “claims made” wording, and its most common use still, is found in covering the exposures created by a “professional’s” activities. As seen by the list of true “professions,” professionals are individuals who provide a service to society which, if done poorly, could cause extreme or irreparable personal or financial harm. …

The expansion of claims made policy forms beyond “professions” caused the basic “claims made” concept to diverge and evolve into two distinct forms. One evolutionary branch commenced in professional liability coverages (known also as “errors and omissions” coverages in this series) and the second branch grew out of the financial services industry and the need for directors and officers liability protection, fiduciary liability and employment practices liability (referred throughout this series as “executive liability” coverages).

Although both branches attach to the tree at the same point; greatly different “claims made triggers” have resulted. Additionally, coverage terms, conditions and definitions differ between the two branches.”

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Craig Andrews

Craig Andrews is a Senior Consultant with Malecki Deimling Nielander & Associates, LLC.  Craig entered the property-casualty industry as a producer in an independent insurance agency in Defiance, Ohio in 1977.  A few months later, he established his own independent agency “from scratch”.  He operated the agency successfully until selling it in 1996 to join…

Is it time to outsource your writing?

As insurance professionals, we are often so busy serving our clients that our writing and publishing take a back seat to our practice. Consistent publication keeps us in the public eye and allows us to rank higher on Google.

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Nancy Germond

Nancy Germond’s three decades of risk management experience give her unique insights and abilities as a consultant. An accomplished risk and claims manager, Nancy authored scores of risk-management related articles, White Papers and has presented for organizations like the Public Risk Manager Association (PRIMA) and the Society for Human Resources. Nancy Germond is the former…

Michael Gay

Insurance Program Executive. Expert Witness. Insurance Educator. Risk Management. Insurance Program Executive… 30+ years of experience in property and casualty insurance program design, policy form drafting and analysis, underwriting, operations, and management of specialty programs. Expert Witness…litigation consulting in complex insurance coverage cases, underwriting practices, and agent/agency duties. Extensive knowledge of Best Practices for Insurers,…

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Bill Wilson

Bill Wilson, CPCU, ARM, AIM, AAM is the founder and CEO of InsuranceCommentary.com. He is the former Assoc. VP of Research & Education at the Independent Insurance Agents & Brokers of America where he founded the Big “I” Virtual University. In addition to over 28 years serving independent insurance agents, he was formerly employeed for…

Here’s A New Real Point Of Differentiation For Your Agency To Use In Its Marketing To Clients/Prospects

One of our missions is to bring you, the PIPELINE reader, the cutting edge tools to allow you to grow your agencies and to earn a fair profit on your labors. The insurance industry and the world are changing at a rapid rate in front of our eyes. If we’re not agile and always changing with the times, we will be left behind and find our agencies disappearing.

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