Professional Liability Insurance For Business

Philadelphia Insurance Companies Introduces Chiropractor Professional ...

23.12.09

Bala Cynwyd, Pa., Dec. 23 / PRNewswire / - Philadelphia Insurance Companies (PHLY) is pleased to announce it will begin offering Chiropractors Malpractice insurance in several states. Chiropractors may now obtain policies in Alabama, California, Colorado, Idaho, Montana, South Dakota and Utah. The approval filing is planned for the Mississippi, Ohio and Texas over the next 60 days with additional states to follow in 2010.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090414/PH98853LOGO)

"Philadelphia Insurance Companies has provided health care under its professional liability Non-commercial benefit package deals," noted E. Howard Goldstein, Assistant Vice President of Management and Professional Liability Products. "The expansion in the market practitioner was a natural transition and represents a significant growth opportunity due to expansion of the scope of chiropractic. We will bring the same excellence in underwriting, claims processing and service that has characterized our work in each of our niche customers.Our ability to offer a one stop shop for business owners Cover (BOP), Crime, EPLI and other important safeguards also provide a strong asset, "said Goldstein.

Source: PR Newswire (press release)

Banking Liability Litigation Drops, Making Insurance Cheaper

21.12.09

During the first nine months of this year, related to securities class action lawsuits has declined in the United States - significantly. Only 130 were filed, representing a decrease of 20% over the same period in 2008. Only 49 claims this year were related to the financial crisis.

Because of this, the price of professional liability insurance are likely to decline next year - or at least grow at a slower pace (depending on specific situation of a company). Directors and Officers (D & O) insurance pricing declined by 2.7% in the third quarter of 2009 compared to the same period in 2008, according to Aon Q3 quarterly D & O Pricing Index.Companies active in this area include American International Group (AIG), Chubb (CB) and XL Capital (XL).

The index is the financial services sector of D & O prices up 3.2%, which followed two price increases in double figures for D & O insurance during the previous four quarters for firms in the S & P-sector financial institutions, comprising banks, insurance, real estate and diversified financial companies. Excluding financial companies, D & O prices were actually down 4.9% yoy.

Source: Daily Finance