FALL / WINTER 2019

Welcome to The Socius Scoop! INDEPENDENTLY OWNED WHOLESALE INSURANCE BROKERAGE

MANAGEMENT AND PROFESSIONAL LIABILITY

Account Ty pe Limit s Premium Oper ationGL/ E&O Sexual Abuse

Reps and Warranties

Private D&O / EPL

Naked D&O Tail

D&O/EPL / Educators Legal

MedMal E&O /Tech E&O /Cyber/GL

$1M / $3M

$6M

$2M

$10M (2 carr iers )

$3M

$1M / $3M

$60,000

$185,000

$40,474

$100,000

$106,000

$9,475

Foster Care having coverage non-renewed

$31M transac t ion s ize

Celebr i t y backed “beaut y ” exper ience

No previous D&O cover & placed D&O ta i l coverge post acquis i ton

School Distr ic t with c la ims histor y

Telemedic ine ser v ice providing testosterone replacement therapy

A Few Recent Management and Professional Liability Placements

SOCIUSSCOOP

THE

Claims Alleging ADA-Noncompliant Websites: What can insureds do to protect themselves? By: Michael G. Hoy, J.D.

As some companies and nonprofit entities are painfully aware, an entire cottage industry of plaintiff attorneys whotarget public establishments for noncompliance with the Americans with Disabilities Act (ADA) has existed for manyyears. Previously, those attorneys focused on the ADA compliance of physical features of the bricks-and-mortar premises of public establishments—primarily, whether facilities or transportation vehicles are properly accessible for individuals with physical disabilities.

.... Read more

D&O Rates Skyrocket in Hardening MarketBy: Judy Greenwald

Policyholders are facing significant increases in their directors and officers liability insurance for the first time in several years, and some experts expect the trend to continue over the next 18 to 24 months. Securities class actions and litigation following high-profile events are leading drivers for recent price hikes in the sector, they say... Read More

300+ Terrifying Cybercrime and Cybersecurity Statistics & TrendsBy: Andra Zaharia

With global cybercrime damages predicted to cost up to $6 trillion annually by 2021, not getting caught in the landslide is a matter of taking in the right information and acting on it quickly.

We collected and organized over 300 up-to-date cybercrime statistics that highlight... Read More

Social inflation making professional lines “trickier”By: Bethan Moorcraft

Social inflation is pushing up liability loss costs in the professional lines space. It’s a tide that has turned slowly over the past decade, with long-tail liability claims only now starting to impact on insurers’ loss reserves. As a result, the professional lines insurance space – which can incorporate coverages like professional liability, directors & officers, errors & omissions, general liability, and cyber insurance – is starting to tighten up and premium rates are firming... Read More

PROPERTY AND CASUALTY LIABILITY

Active Shooter / Active Assailant InsuranceBy: By: Frank Scott, A.C.I.I., C.P.C.U.

Many recent events have made us realize there is a need for most industries to think about carrying coverage for “ActiveShooter/Active Assailant Insurance” which can be defined as coverage for a premeditated, malicious physical attack by anactive assailant at a covered location, who is present and armed with a weapon (including handheld instruments, small arms, explosives and vehicles)... Read more

What to Expect When Expecting a Hard MarketBy: Rodney T. Nubin, Senior Vice President and Casualty Practice Leader

All industries have cycles of contraction and expansion or in insurance terms hardening and softening. Typically thecontraction or expansion, regardless of the industry, will last between two to ten years. What’s been unusual about ourindustry is the soft market started as far back as 2004. From 2004 to around 2012 we experienced a truly soft market.Around 2012 the market bottomed out. From 2012 until about 2017 we have seen pockets of the market attempt toharden only to experience moderate softening again in the years to come... Read more

Account Ty pe Limit s Premium Oper ationWind/Hail Only

Package - Prop/GL/HNOA

Builders Risk Key West

Deadly Weapons Protect ion

Property w Wind

Excess l iabi l i ty

$3,500,000

$1,864,978

34mil

35mil

22mil

5mil lead excess

$26,000.00

$8 ,606.00

$199,000

$114,000.00

$85,000.00

$102,000.00

Co - Op in Broward Count y

O �ce Bui lding - LRO in Cape Coral , FL

Count y Bui ld ings

Marathon and Fest ival in Las Vegas

Warehouses

Distr ibutor of Concess ion Produc ts

A Few Recent Property and Casualty Liability Placements

Accident Reports Now Ready Minutes After Crash on Smartphone, Says Telematics FirmBy: Jim Sams

The company that helped make driver safety monitoring ubiquitous among auto insurers is now offering a product that can write accident reports within minutes of a crash.

Cambridge Mobile Telematics (CMT) announced the launch of Claims Studio, an accident reporting system that the company says will speed up claim processing times... Read More

OFFICE LOCATIONSSan Francisco, Walnut Creek, Los Angeles, CA; Elgin, Chicago, IL; Birmingham, AL; Miami Beach and Tampa, FL; Philadelphia, PA; and New Jersey.

SociusInsurance.com833-476-2487

Please visit sociusfoundation.orgto learn more or to get involved!

License# 0D6077