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Professional Liability for Electrical Engineers with the Aspire A&E Program

By: Michelle Hovis | Posten on: Jul 17, 2015 8:48:00 AM

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Electrical engineering dates back to the late 19th century. These engineers help us in almost every aspect of our lives.

 

Opportunity:

  • There are more than 300k electrical engineers in the U.S.
  • The job outlook for electrical engineers is growing through 2020

 

How to Quote:

 

Desirability:

  • Electrical Engineers

 

Exposure Concerns:

1) No conveyor and conveyor systems

2) No marine projects

3) No aerospace or nuclear projects

4) Does the applicant offer any other types of engineering services?

 

 Key Underwriting Questions:

1) What types of projects is the applicant working on?

2) Who are the top applicants top 3 clients?

3) Does the applicant have current E&O insurance?


Coverage:

  • Limits up to $2M
  • Revenue up to $2M
  • Deductibles from $5k to $25K

 

If you have any questions or would like to talk to an underwriter regarding this class, please feel free to email Michelle@stuckey.com or visit our website at Stuckey.com for more information on the Aspire A&E program for professional liability for architects and engineers 

Become an Agent


 

Topics: Blog, Miscellaneous Professional Liability, professional E&O, professional liability, MPL

Computer Network Services Professional Liability

By: Maggie Hammett | Posten on: Jul 17, 2015 8:39:00 AM

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Computer Network Services

Computer Network is a group of computer systems and other computing devices that are linked together though communication channels.  These are used to communicate via fax, email, voice and video conferencing.  There are many types of networks including:  Local Area Networks; Wide Area Networks; Enterprise Private Networks; The Internet.  This can also encompass, consulting and installing network computer system, designing systems, and monitoring network systems.

Opportunity:

  • Size of Market:  Over $15 Billion in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Computer Security (original & custom development)
  • Computer Security (off the shelf firewall)
  • Data Restroation
  • Disaster Recovery
  • Hardware Installation & Maintenance
  • Network Design
  • Software Installation & Maintenance
  • System Design & Engineering
  • Real Time Network Monitoring

Exposure Concerns:

We’ve all heard it..Network Breach or Privacy Breach.  The Unauthorized access to a computer network, where as personal information has been stolen.  Company laptops that may contain clients’ financial information, along with private data, are at risk. 

Key Questions:

  1. Do prospects have a written network security policy?
  2. Who are their clients? 
  3. What types of industries does the risk serve?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Rebuilding for High Value Homes under Orindnance or Law Coverage

By: Stacy Stafford | Posten on: Jul 16, 2015 9:00:00 AM
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"Is your coverage sufficient to cover ALL costs of rebuilding?"

 

Ordinance or Law coverge is designed to fill in the gaps after a covered loss.This coverage is trigged when you are required to comply with local law ordinance, statues' or building codes. These additional costs will be at the homeowner's expense.
The local municipality may not issue the necessary permits to repair a covered loss until all areas are in compliance with the mandated codes. This coverage has  3 components:
  • Coverage A: Coverage for loss to the undamaged portion of the structure
  • Coverage B: Increased demolition cost
  • Coverage C: Increased cost of construction

Costs associated with rebuilding can include the following:

  • Rewiring the electrical system
  • Installing hard wired smoke detectors
  • Hurricane-resistant roofs or windows
  • Rebuilding the entire home after a parital loss

How do you calculate the correct amount in Law and Ordinance coverage? By insuring your high value  home at 100% of the replacement cost assures your closest estimate of having the appropriate amount of coverage. By familiarizing yourself with the local building trends will aid you in calculating the amount needed to guard against your out-of-pocket expense.

 How to Quote:

 

 

 

If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com

Living Expenses in a High Value Homeowners Policy 4

By: Stacy Stafford | Posten on: Jul 9, 2015 9:02:26 AM

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"Coverage for Living Expenses for High Value

Homes."

 

The loss of a home is a devastating event to say the least for a family. Within the immediate chaos that ensues after such an event, the family is now faced with concerns such as, "Where will we live?" and "Is our coverage sufficient provide for our immediate needs?"

The coverage amount in a high value home policy is unlimited in most states based on actual additional living expenses until the insured can reoccupy their residence following a covered loss. Some of the features to this coverage are:

  • Help in locating temporary housing
  • Covers the increase in expenses until the insured can go home
  • Includes the cost of kenneling pets

Available coverage's may include:

  • Rent for temporary housing
  • Insurance policy taken out on contents in temporary housing
  • New account or "setup" fees for utilities at temporary rental home
  • Photocopies and expenses related to the claim
  • Moving costs incurred to move from the temporary rental home back into the rebuilt/reparied home
  • Reconnection fees for setting up utility and other related services at the rebuilt home
  • Pet boarding cost

Preferred carrier's will provide the insured with a temporary home that is in line with their current living standards.

It is important to remember the coverage for living expenses will pay for the additional expenses incurred after a covered loss.

By developing a relationship with your client will enable you to insure they have the proper coverage that will protect them if they should suffer a loss.

  How to Quote:

 

 

If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com

Topics: personal lines insurance

Professional Liability for Civil Engineers with the Aspire A&E Program

By: Michelle Hovis | Posten on: Jun 25, 2015 8:59:33 AM

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Civil engineers design, construct, supervise, operate, and maintain large construction projects and systems to including roads, buildings, airports, tunnels, dams, bridges, and systems for water supply and sewage treatment.

 

Opportunity:

  • The number of jobs for civil engineers are over 300k
  • The job outlook for civil engineers will be up 20% over the next 10 years

 

How to Quote:

 

Desirability:

  • Civil engineers

 

Exposure Concerns:

1) Limits on bridges to 150ft in length 

2) No marine projects

3) No aerospace or nuclear projects

4) Does the applicant offer any other types of engineering services?

 

 Key Underwriting Questions:

1) What types of projects is the applicant working on?

2) Who are the top applicants top 3 clients?

3) Does the applicant have current E&O insurance?


Coverage:

  • Limits up to $2M
  • Revenue up to $2M
  • Deductibles from $5k to $25M

 

If you have any questions or would like to talk to an underwriter regarding this class, please feel free to email Michelle@stuckey.com or visit our website at Stuckey.com for more information on the Aspire A&E program for professional liability for architects and engineers 

Become an Agent


 

Topics: Blog, Miscellaneous Professional Liability, professional E&O, professional liability, MPL

EPLI Coverage for High Value Homes 3

By: Stacy Stafford | Posten on: Jun 25, 2015 8:00:00 AM
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"Employment Practices Liability Coverage."

 

What is Employment Practices Liability coverage?  Also known as "EPLI", this added coverage aids in helping to defray the cost of defense against allegations of employment related claims.
Many of your clients employ household staff such as Nannies, Gardner's, Kitchen Staff and Personal Assitants to assist them in the care and maintence of their high value homes.  This coverage encompasses specific liability needs and provides additional protection for your client. Employment liability can provide protection for:
  • Wrongful termination
  • Sexual harassment
  • Employment discrimination
  • Reputational injury

Coverage limits available:

  • $250,000 - $500,000 per occurrence
  • $500,000 annual aggregate
  • $10,000 deductible per occurrence

Additional coverage for reputational injury:

  • $25,000 per occurrence/annual aggregate
  • $50,000 per occurrence/annual aggregate

In addition to the above, preferred writer's will also conduct a background check on your household staff.  Coverage can be provided for up to 12 employees or fewer, including part-time and full-time employees working more than 15 hours per week. The insured would need to have $1,000,000 excess liability policy in place.

In your pursuit to ensure your clients are properly covered, this is certainly an avenue worth your investigation! Remember employment liability is not just for your commercial clients anymor 

Affluent Customer Insurance Opportunity:


Standard Liability Limits

  • Minimum: $100,000
  • Maximum: $500,000

Preferred Liability Limits

  • Minimum: $300,000
  • Maximum: $1,000,000


With preferred policies these coverage's are extended worldwide. In this most litigious evironment in which we live, it is most prudent to protect your client's assests and their way of life they are accustomed too.

In addition to the liability limits offered within the homeowner's policy, your insured may want to add an excess policy that will provide coverage after the initial liability limits have been reached. Preferred writer's offer excess policies up to $100,000,000.


How to Quote:

 

If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com

Professional Liability for Engineers through the Aspire A&E Program

By: Michelle Hovis | Posten on: Jun 18, 2015 2:35:00 PM

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An engineer is a professional practitioner of engineering, concerned with applying scientific knowledge, mathematics, and ingenuity to develop solutions for technical, societal and commercial problems.

 

Opportunity:

  • According to the National Society of Professional Engineers there are more than 2 million practicing engineers in the United States.

How to Quote:

Desirability:

  • Electrical Engineer
  • HVAC Engineer
  • Mechanical Engineer
  • Civil Engineer

Exposure Concerns:

1) No structural engineers

2) No soil/geotechnical engineers

3) No chemical engineers

 

Key Underwriting Questions:

1) Does the applicant do any structural work?

2) Who are the top clients?

3) What type of civil engineering services are being provided?


Coverage:

  • Limits up to $2M
  • Revenue up to $2M
  • Deductibles up to $25M

 

If you have any questions about our Aspire A&E professional liability program or would like to talk to an underwriter regarding this class, please feel free to email Michelle@stuckey.com or visit our website at Stuckey.com for more information. 

Become an Agent


 

Topics: Blog, Miscellaneous Professional Liability, professional E&O, professional liability, MPL

Software Consulting & Development Technology E&O

By: Maggie Hammett | Posten on: Jun 18, 2015 2:08:00 PM

MPL_BusinessSoftware Consulting and Development

Software developers have creative minds, that allow the rest of us to process technology devices easier.  A software company may engage in providing custom computer programming, which often leads to a variety of additional services, such as computer software design and analysis, modification of existing software and training on the use of the software.

Opportunity:

  • Size of Market:  Over $190 Billion in revenue
  • Average Premium:  $1,200
  • Minimum Premium:  $500

How to Quote:

Categories include:  

  • Accounting/Financial/Payroll (no funds transfer)
  • Business Application Software Development
  • Database Design & Maintenance
  • Business Process Automation
  • ERP/CRM Implementation & Maintenance
  • Document Management Systems

Exposure Concerns:

Of course the largest concern is a technical issue.  What if your clients system crashes, 24 hours after you upload a custom software or application developed specific to this client?  Your client is looking to you for answers.  Look to Stuckey & Company for Technology insurance.

Prohibited Services include:

  • Gaming software

Key Questions:

  1. What is the end use of the software?
  2. What type of risk management procedures does the risk have in place?
  3. Who are their clients?
  4. What types of industries does the risk serve?

 Coverage:

  • Revenues from $1k to $25M
  • Limits up to $5M
  • Deductible options ranging from $1k to $250k

Email Underwriter  

 

If you think that you have a business or know of a business that provides these type of services and is in need of professional liability insurance, please contact Stuckey & Company.







Topics: Stuckey & Company, Blog, safetytek, it insurance, professional E&O, professional liability, cyber liability insurance, IT E&O, errors and omissions

Higher Limits of Liability for High Value Homes 2

By: Michelle Hovis | Posten on: Jun 18, 2015 8:00:00 AM
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"Affluent homeowner's may require higher limits of liability for their high value home."

 A preferred policy can provide higher limits of liability for your affluent clients.  Preferred carrier's will arrange for an appraiser to visit the home and provide the insured with an estimated replacement cost for their home.  The liability limit will determine the dollar amount of coverage your client should place on their home. With this valuable information at your clients disposal, it will provide them with the tools needed in properly insuring their home.

The amount of coverage for the home should be in line with the replacement cost needed to rebuild your home. It's important to remember the replacement cost and the market value are not inclusive of one another.

Affluent Customer Insurance Opportunity:


Standard Liability Limits

  • Minimum: $100,000
  • Maximum: $500,000

Preferred Liability Limits

  • Minimum: $300,000
  • Maximum: $1,000,000

How to Quote:


With preferred policies these coverage's are extended worldwide. In this most litigious environment in which we live, it is most prudent to protect your client's assets and their way of life they are accustomed too.

In addition to the liability limits offered within the homeowner's policy, your insured may want to add an excess policy that will provide coverage after the initial liability limits have been reached. Preferred writer's offer excess policies up to $100,000,000.

 

If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com

Professional Liability for Architects through the Aspire A&E Program

By: Michelle Hovis | Posten on: Jun 15, 2015 10:06:00 AM

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Life is architecture and architecture is the mirror of life -  I.M. Pei

A potential insured that practices architecture, provides services in connection with the design and construction of buildings and the space within the site surrounding the buildings.

Opportunity:

  •  Currently there are over 105,000 architects in the U.S. according to the American Institute of Architects

How to Quote:

Desirability:

  • Residential Architects
  • Commercial Architects
  • Landscape Architects (Limited pool and park exposure)

Exposure Concerns:

1) Condominiums

2) Pools and Parks

3) Bridges and Highways

 

Key Underwriting Questions:

1) Does the architect design condominiums?

2) Who are the top clients?

3) What type of landscape design services are being provided?


Coverage:

  • Limits up to $2M
  • Revenue up to $2M
  • Deductibles up to $25M

 

If you have any questions or would like to talk to an underwriter regarding this class, please feel free to email Michelle@stuckey.com or visit our website at Stuckey.com for more information. 

Become an Agent


 

Topics: Blog, Miscellaneous Professional Liability, professional E&O, professional liability, MPL

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