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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

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

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

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

Personal Services - Coverage for your business

By: Michelle Hovis | Posten on: May 7, 2015 10:00:00 AM

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We all have tight budgets and carry certain expectations when we spend our hard-earned money for the products and/or services offered by others. When those expectations aren’t met, conflicts arise, and often times this can lead to professional liability claims. The only solution: adequate coverage

Examples Include:

  • Event Planners - SIC 7382
  • Translators\Interpreters - SIC 7389
  • Travel Agencies - Sic 4724

Exposure Concerns:

Some of the exposure concerns with the personal services class are negligent vendor management, breach of contract, not providing the correct information to the client, misrepresentation and fraud.

Prohibited Classes:

  • Funeral Directors
  • Animal Services
  • Day Spas

Key Questions:

1) Is the travel agency a retail or wholesale operation? Do they book cosmetic surgical vacation packages? 

2) Who are the major clients?

3) What types of documents are translated?

4) Does the applicant belong to any associations or groups?

5) Does the applicant use written contracts when providing their services?

Coverage:

  • Revenues up to $10M
  • Limits up to $5M
  • Deductibles from $1k to $50k

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

Education Services - Educating Educators on E&O

By: Michelle Hovis | Posten on: Apr 30, 2015 12:19:13 PM

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These are the people we rely on to advance society through solid education. But what if they make a mistake? Any erroneous information could cause any number of problems to the recipients of the bad information. Again, proper coverage is crucial to protect not only the insureds, but their clients as well.

Educational Services include:

  • Job Counselors - SIC 8331
  • Seminar Conductors - SIC 8331
  • Speakers/Lecture Bureaus - SIC 7389
  • Training Services - SIC 8331
  • Tutoring Services - SIC 8299
  • Vocational Counseling - SIC 8331 

Exposure Concerns:

Some of the exposure concerns with the class are failure to deliver the services, misinformation, BI/PD depending on the training topic and copyright/trademark infringement just to name a few.

Prohibited services include:

  • Schools
  • Teachers
  • Daycare centers/Preschools
  • Religious Organizations

Key Questions:

1) What types of topics does the applicant provide services for?

2) Does the applicant develop the materials they use to provide the services? if no, do they have legal consent to use the material?

3) Does the applicant use written contracts for the services provided that are in the applicants favor should a problem arise? 

4) Does the applicant belong to any associations or groups?

5) Is the applicant accredited?

6) What is the background of the applicant? do they have a current resume?

 Coverage:

  • Revenues from $1k to $10M
  • Limits up to $5M
  • Deductible options ranging from $1k to $50k

 

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


 Become an Agent

Topics: Stuckey and Co., professional E&O, MPL

Financial Services - Making sure you are covered

By: Michelle Hovis | Posten on: Apr 1, 2015 8:28:00 AM
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Financial Services is another exciting class that Stuckey & Company can write under the Miscellaneous Professional Liability program. 

There are many laws that govern various financial realms, representing unique coverage needs for professionals in the financial services sector. Loss exposures are high here, and proper coverage is essential.
 

Opportunity:

  • Size of Market: 740,017
  • Average Premium: $1,250
  • Minimum Premium: $500

How to Quote:

Financial Services Include:

  • Billing Service Professional
  • Bookkeepers Professional
  • Claims Adjusters Professional
  • Payroll Processors Professional
  • Tax Preparers Professional

Exposure Concerns for Miscellaneous Professional Liability Insurance:

A few of the underwriting concerns for services that fall into this category are, misuse of personal and confidential information, negligent calculations, commingling of funds, fraud, misinterpretation of tax code, along with many others. 

Prohibited Services Include:

  • Accountant
  • Actuary Services
  • Collection Agencies
  • Financial Institutions
  • Credit Risk Analysis

Key Questions:

  1. What type and size client base does the applicant have?
  2. Does the applicant use a written contract with every client?
  3. Does the applicant carry a fidelity bond?
  4. Does the applicant provide any type of tax consulting services?
  5. Does the applicant provide any services related to tax shelters?

Coverage:

  • Revenues from $1k to $10M
  • Limits up to $5M
  • Deductible options ranging from $1k to $5M

Additional Coverage:

  • BOP
  • Workers Comp
  • Commercial Auto
  • Bonds
  • EPLI
  • Ect...

Email Underwriter

If you have any questions regarding Miscellaneous Professional Liability, please contact Michelle at Michelle@stuckey.com or visit our website at Stuckey.com

Topics: MPL

Real Estate Services - Insuring Real Estate Professionals

By: Michelle Hovis | Posten on: Mar 11, 2015 1:36:00 PM

 

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Insuring professionals that provide real estate services can be somewhat tricky. The information below will help you help your clients identify with their miscellaneous professional liability insurance needs. 

Real Estate is property consisting of land and the buildings on it. People who provide services pertaining to owned property, are providing real estate services.

Opportunity:

  • Size of Market: 807,164
  • Average Premium: $1,700
  • Minimum Premium: $500

How to Quote:

Examples Include:

  • Interior Design Professional - SIC 7389
  • Landscape Architects Professional - SIC 0781
  • Marine Surveyors Professional (non-commercial)  - SIC 4499
  • Property Managers Professional - SIC 7349
  • Real Estate Agents/Brokers Professional - SIC 6531
  • Real Estate Appraisers Professional -SIC 6531 

Exposure Concerns:

Working with property has concerns that need to be taken into account when placing coverage. Some of these are failure to conform with building codes and ADA regulations, cost overruns, bodily injury/property damage, negligent assessment of value, negligent assessment of damage and/or repair costs, and not keeping with the code of ethics set forth by the National Association of Realtors, just to name a few. 

Prohibited Classes:

Key Questions:

1) What types of projects are worked on? Any specialization?

2) Any Construction or soil testing?

3) Is the applicant accredited?

4) Does the applicant belong to any associations or groups?

5) Does the applicant use written contracts when providing their services?

Coverage:

  • Revenues up to $10M
  • Limits up to $5M
  • Deductibles from $1k to $50k

Additional Coverage:

  • BOP
  • Workers Comp
  • Commercial Auto
  • Bonds 
  • EPLI
  • Ect...

MPL Application

 

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. 

Topics: MPL

Management Services - Not Just Consulting Anymore

By: Michelle Hovis | Posten on: Mar 5, 2015 12:45:00 PM

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Management services help coordinate the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. The types of businesses in this class perform these types of services. 

As I mentioned in my last blog, there are seven (7) services classes within our Micellaneous Professional Liability program.

Opportunity:

  • Size of Market: 2,420,355
  • Average Premium: $1,300
  • Minimum Premium: $500

How to Quote:

 Examples include:

  • Management Consulting Firms Professional - SIC 8742
  • Marketing Firms Professional - SIC 8742
  • Advertising Firms Professional - SIC 7311
  • Human Resource Management Professional - SIC 8742
  • Background/Pre-Employment Screening Firms Professional - Sic 7381
  • Direct Mail Services Professional -SIC 7331
  • Public Relations Firms Professional - SIC 8743

Exposure Concerns:

Improper/negligent advice, copyright or trademark infringement, misrepresentation, libel/slander, and breach of confidentiality are a few of the exposure concerns for this class. 

Prohibited Services:

  • Medical Consultants
  • Security Consultants
  • Mortgage Brokers
  • Social Services
  • Architectural Consultants - Try our Aspire A&E program
  • Loan Consultants
  • Public Officials

Key Questions:

1) Who is relying on their advice?

2) Are they involved in mergers or acquisitions?

3) What risk management procedures are in place?

4) Do they use a written contract/agreement with their customers?

5) What steps do they take to maintain data security?

Coverage:

  • Revenues up to $10M
  • Limits up to $5M
  • Deductibles from $1k to $50k

Additional Coverage:

  • BOP
  • Workers Comp
  • Commercial Auto
  • Bonds
  • EPLI
  • Ect...

Email Underwriter

If you have any questions regarding Miscellaneuos Professional Liability, please contact Michelle at Michelle@Stuckey.com or visit our website at Stuckey.com

 



 

Topics: Miscellaneous Professional Liability, MPL

Press Release - Stuckey & Company Adds Chubb's MPL Product

By: Michelle Hovis | Posten on: Feb 26, 2015 12:17:52 PM

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Stuckey & Company Adds Chubb’s Miscellaneous Professional Liability Program To Its Product Offerings and Online Rating System

 

LAKE ST. LOUIS, MO – February 19, 2015 – Stuckey & Company has added the Chubb Group of Insurance Companies’ ProE&OSM miscellaneous professional liability policy to its broad array of insurance product offerings.  In addition, Stuckey has updated its online rating system to include the Chubb product.

 

ProE&OSM offers errors and omissions liability insurance to help protect professionals against liability exposures resulting from allegations of negligence. The policy includes worldwide coverage for personal injury and 100% defense costs with a duty to defend. Through its network of appointed independent agents, Stuckey will offer ProE&OSM to micro-businesses, typically under $10 million in revenues, which provide business services, management consulting, financial consulting, legal support services, educational services, real estate services, personal services and other professional services.

 

Stuckey’s appointed agents can provide their customers with pricing information for ProE&OSM and other products in Stuckey’s suite of insurance offerings through its online rating system. In addition to ProE&OSM, the rating system supports insurance products for technology professional liability and architects and engineers’ professional liability.  

 

“A company must defend itself against even a meritless E&O lawsuit, and this can have a financially-devastating impact on its bottom line. ProE&OSM from Chubb is designed to help protect micro-businesses from such a grave consequence,” said Dwight Stuckey, founder and co-owner of Stuckey & Company. “Our updated rating platform offers agents an efficient and expedient way to determine if a business is eligible for ProE&OSM coverage and favorable rating.” 

 

“Stuckey’s access to the independent agents that help protect micro-businesses will put ProE&OSM in the hands of a market that can benefit from this increasingly important business coverage,” said James L. Rhyner, vice president and miscellaneous professional liability product manager for Chubb. 

 

Stuckey & Company has in-house authority to quote and issue a policy for ProE&OSM insurance for businesses with up to $10 million in revenue. Coverage is available in all states, except Alaska and Hawaii.

 

About Chubb
Since 1882, members of the Chubb Group of Insurance Companies have provided property and casualty insurance products to customers around the globe. These products are offered through a worldwide network of independent agents and brokers. The Chubb Group of Insurance Companies is known for financial strength, underwriting and loss-control expertise, tailoring products for the needs of high-net-worth individuals and commercial customers in niche markets and select industry segments, and outstanding claim service.

 

The Chubb Group of Insurance Companies is the marketing term used to describe several separately incorporated insurance companies under the common ownership of The Chubb Corporation. The Chubb Corporation is listed on the New York Stock Exchange (NYSE: CB) and, together with its subsidiaries, employs approximately 10,000 people throughout North America, Europe, Latin America, Asia and Australia. For more information regarding The Chubb Corporation, including a listing of the insurers in the Chubb Group of Insurance Companies, visit www.chubb.com. 

 

About Stuckey & Company

Stuckey & Company is a specialty insurance provider based in Lake St. Louis, Missouri.  For over 17 years, Stuckey has offered commercial, professional and personal lines of insurance.  More than 8,500 Stuckey-appointed independent agents have the knowledge and experience in working with specific coverage not typically covered under standard policies.  The experts at Stuckey work with these independent insurance agents to ensure each client receives the coverage they need to keep their corporate or personal assets safe.  Stuckey manages 10 specialty insurance programs and offers 1x5 service—accounts received in the office by 1 p.m. CST will receive a response by 5 p.m. the same business day. More information is available at www.stuckey.com.

Topics: MPL

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