As if Toyota doesn’t have enough bad publicity…

Toyota CEO

May your clients’ liability problems never be as complex as Toyota’s. Consider that the car giant’s problems are starting to go beyond the recall of faulty products- According to in the New York Times, Toyota is also the focus of a civil and criminal liability investigation:

As if the Toyota Motor Corporation does not have enough bad publicity surrounding unintended acceleration problems in some of its cars and brake issues with the Prius, now comes the automaker’s disclosure that it received subpoenas from a federal grand jury and the Securities and Exchange Commission for corporate documents about these issues…. The disclosure takes the recall of its cars to a new level, because now Toyota faces potential criminal and civil liability from the government and not just its owners. These investigations come on top of a Congressional inquiry, with hearings under way in Washington.

While high-profile lawyers and lawmakers sort out Toyota’s tangle of trouble, Stuckey & Company wants both agents and clients to understand the basics of commercial liability insurance and why it is so important.

What Does Your Client Need?

Three liability exposures make up the bulk of business liability risk. First, Ownership and Maintenance of Premises involves the risks of owning and maintaining property. Second, Conduct of Business Operation is a liability exposure that arises when a person is injured on or away from the premises by an activity of the owner or employee. Third, Product Exposure is when a manufacturer or distributor of a faulty product injures someone. It is critical that this exposure does not end when the product is sold and delivered. Other exposures such as completed operations, contingent liability, and contractual liability are also types of commercial liability insurance exposures that business must consider. But does every business know about these complex exposures?

Stuckey Can Help

Stuckey & Company can help sort out what type of exposure each client is likely to face. And Stuckey can assess your risks and make recommendations that fit client budgets. In cases of extremely high-risk businesses, we offer umbrella policies that will extend the coverage you need up to limits of $50 million dollars.

The agents at Stuckey & Company have the knowledge and the experience to weigh these two factors and get you the right amount of coverage. With over fifteen years of experience, Stuckey is a leader in the commercial general liability insurance industry.

For more information about Commercial Liability Insurance coverage from Stuckey & Company contact the underwriters below, and attend our upcoming webinar:

Commercial Lines Webinar Thursday, March 18, 2010 11:30 AM Central Time

Holly Barker
CL New Business Underwriter
800-828-3452 x 15
holly@stuckey.com

Kyle Dallavis
CL New Business Underwriter
800-828-3452 x 25
kyle@stuckey.com

Nikki Malensky
CL New Business Underwriter
800-828-3452 x 26
nikki@stuckey.com

Libby Rodes
CL New Business Underwriter
800-828-3452 x 40
libby@stuckey.com

Medical Professional Liability… beyond medical malpractice.

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Many agents mistake Medical Malpractice Insurance for Medical Professional Liability.  The latter is specifically designed for products or services rendered in the medical realm, as opposed to actual hands on health care.

Stuckey & Company has a Medical Risk program with ACE to write such risks as Laboratories, X-Ray / Imaging facilities, Dialysis Centers , Clinics, nurse / staffing registries, substance abuse rehab centers, mental health counseling, pharmacies, medical schools, and more.

Coverage Highlights and Submission Requirements:

Primary Coverage policy minimum premium is $2,500

Generally we do up to $1,000,000 per claim and $3,000,000 aggregate for primary coverage, however separate limits may be available for additional premium  (up to $10,000,000 per claim and aggregate for excess coverage). **Note: This is NOT available for all risks**

Restricted classes or industries: Blood, tissue or organ banks, medi-spas, transplant agencies, abortion clinics, birthing centers, medical transportation operations

Submission Requirements: ACE Medical Risk Completed and Signed Application, 5 years Company Loss Runs, Sample Employment Application, if business is less than 5 years old, please include the resume of the administrator.

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DID YOU KNOW?

We can include the GENERAL liability along with the professional side on many classes.  The professional liability is still on a claims-made policy form, where the GL portion is on an occurrence form.  We also may be able to include non-owned automatable coverage.

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REMEMBER:

You have access to these key competitive advantages:  ACE paper (rated A+ (Superior) by A.M. Best and A+ (Strong) by S&P ), competitive coverage terms and services, experienced underwriting staff who specialize in the healthcare industry, and “Admitted” carrier available for selected accounts.

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Let us help you cover your clients!  We will make it happen!

Contact Chris Boylan, Professional Liability Renewal Underwriter, for applications in each state, claims samples, specimen forms, general questions, or sell sheets.

Chris@stuckey.com or 1-800-828-3452 x 35

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Or perhaps you are an EXISTING AGENT looking for a refresher on what’s new?

Either way, this webinar’s for YOU!

Join Jerry Lovin, General Manager of Stuckey & Company, as he walks you through each of the Stuckey specialty lines, providing you with valuable info, and answering YOUR questions!

Friday, Feb. 19, 2010 at 2:30 pm cst.

Want to learn more about Tech Insurance from Stuckey & Company?

Tracey Hagy-Kelly and Kris Fistick from The Hartford will be discussing “What is Tech Business?“,
providing details about each of their tech-related programs.

Perfect for agents who are relatively new to the tech industry, as well as pros
in the field!

I wondered why the Super Bowl uses roman numerals. Why couldn’t they just say “2010 Super Bowl 44”?  Don’t we have enough trouble trying to figure out metric conversions without throwing in another mix?

Roman numerals should be reserved for fancy-schmancy things such as a grandfather clock in the foyer of a grand hotel, or on the faces of those ladies’ watches that don’t have any numbers on them at all. (I had one once and I’d hate it when people asked me what time it was because I’d have to recite my disclosure, “give or take an hour and five minutes).  Movies are okay to use roman numerals because the most we have to learn is “III”.  Nobody sees any sequels after 3. (Sorry Mr. Stallone.)

Anyway…since the Super Bowl committee decided to use roman numerals, why did they stop with the title? Why not make it interesting and use them on the back of the players’ jerseys or on the field? Make those announcers earn their pay. Educate their audience a little.   “And there’s the toss…. he takes off….here comes number LXVIII… He fumbles at the XXV yard line. It’s still I and X.” Can you imagine after a couple of cool beverages trying to figure that out?  I can’t even figure out the game using the American system.

Speaking of not figuring it out…why have they booked elderly rockers for the halftime show in the last few years? No disrespect intended.  Is the committee trying to play it safe?  Don’t you think a wardrobe malfunction on one of those guys would be more psychologically damaging than the peep show we got a couple years ago? I’d rather take a chance on a more current act, like someone that has won a Grammy in the last V years.  Either that, or I like Kerry’s idea of having Elvis try it. I’ll run and ask him, I think he’s still in the building. Chip thinks it would be better to have multiple acts. That way, if one is lame, we still have a 50% chance. I think the most entertaining part of the half time show for me was trying to explain the name of the band to the kids. “Who is that band?”…“That’s right.”… “Huh?”… “The Who is the band.” He looks over at his sister with confusion. “What’s the name of the band?”… “No, it’s not What, it’s TheWho.”…“You’re weird.” Fortunately, the lights around the band flashed “The Who” and I was no longer considered weird.”

And speaking of weird…how about those commercials? I think some attempts at marketing humor just came across as strange and/or annoying. (Sorry Dockers, Denny’s and Kiss).  I asked everybody what their favorite commercial was and e-Trade was hands-down the favorite with “milk-a what?” being the top choice. There is something so hilarious about babies talking in adult voices and old people getting tackled (Way to go Betty!). On a side note, I was thrilled to see that Fish is still alive.

After taking an unofficial poll, our office pretty much favored the Saints to win, except Jerry, Lindsay and Shelli. Shelli told me that one of her agents officially banned her from Louisiana, not because she was cheering for the Colts, but because she admitted that she would root for any team other than the Saints (she’s a Vikings fan). The Louisiana agents that are still speaking to her told us that New Orleans will be hosting a week long celebration. I’ve never been to New Orleans, but I’ve heard they sure know how to party there. I imagine they will do the Saints proud, just as the Saints represented their city proudly. Congratulations Saints fans! We’re looking forward to Super Bowl XLV! (It’s 45, and yes, I had to look it up).

Architecture & Engineering is an $11 billion industry, yet the majority of A&E firms (approximately 87 percent) generate $1.5 million or less in annual revenue. As a record number of closures and layoffs are announced at large firms nationwide, many professional architects and engineers are forming small consultancies or pursuing work as independent consultants. As the number of firms with this small business model has increased, new risks have emerged particular to the field. Architects and engineers often encounter unexpected problems that can lead to major expenses for clients and possible lawsuits—even if the problem occurred at no fault of their own. As a response to the unique risks these firms face, a specialized insurance program is recommended. Aspire A&E from Stuckey & Company is a professional liability program specifically designed for smaller A&E firms. Aspire protects beyond a basic errors & omissions policy, and offer customized solutions for this unique segment of the industry.

Passing the buck

Professional liability insurance was created for architects and engineers in 1957 by Victor O. Schinnerer. Before then, architects were not viable targets for claims. Today, contractors and consumers are quick to point the finger at architects, alleging negligence or failure to perform services. Consider this real-life loss scenario in which the negligence, and therefore the costs, are passed along the multi-party chain to the designer:

An architect was retained to design a new performing arts center. To cut costs, the city took over construction administration. Some of the finish work in the auditorium included installation of veneer core modesty panels for the front row of the balcony. After completion of the project, one of these modesty panels fell upon a patron as a result of a child kicking the panel during an event. Suit was brought against the city and the city filed a third party complaint against the architect.

This type of scenario can occur with almost any project. In addition to costs brought on by injuries or negligence, A&E professionals must consider fluctuating variable fuel, material, and technology costs, making professional liability not only a necessity, but a vital business strategy.

Nobody’s perfect

The definition of “standard of care” maintains that people are not perfect, and an architect or engineer is no exception. In fact, the Guide for Amendments to Owner-Architect Agreements emphasizes that “The law… does not expect architects to provide perfect or flawless services or to guarantee or warrant the results of their services.” However, agents should caution their clients when using phrases such as “best,” “superior” or “most qualified,” as it may create unattainable expectations. The reality is that something is bound to happen differently than planned. If your clients project themselves as honest yet imperfect professionals who equip themselves with the appropriate coverage, consumers may be more understanding when it comes to pointing the finger.

Why choose Aspire A&E from Stuckey & Company?

The A&E Underwriters at Stuckey & Company have expert knowledge in the field and a technical background that allows them to speak the same language with regard to your client’s business, their specific needs and the specialized coverages available for small A&E firms. You can trust that the Stuckey team carefully listens to you and your client, and serves as sage, empathetic counsel.

Stuckey can easily extend coverage to other specialized areas. For example, engineers who specialize in technology may require additional tech-specific insurance. By working with Stuckey & Company, you have access to other specialized coverages.   Your client can trust they are getting the most comprehensive and customized insurance available.

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Most importantly, you and your Aspire A&E clients can rely on Stuckey & Company for competitive pricing and high-quality service.  The A&E industry has changed significantly over the past several decades, and today, plans and documents are scrutinized in great detail to prevent unnecessary mistakes or costly lawsuits.  This increased focus on managing risk among A&E firms has created a significant demand in the insurance market. A&E clients have choices when it comes to insurance coverage.  When you choose Stuckey & Company, you are choosing the best value with superior service.

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The last half-century has brought significant changes to the way architects and engineers conduct their business and protect their risks. The economic climate may improve, and industry methods of documenting and covering tracks may reduce risk, but mistakes are inevitable. As a trusted insurance agent, you can arm your A&E clients with the most comprehensive insurance on the market. Today’s architects and engineers are held to high standards of performance.  Offer them professional liability insurance that lives up to those standards.

For more information about the Aspire A&E program from Stuckey & Company, click here.

Join us for this 30-minute in-depth look at the Private Client Group from Chartis (formerly AIG).  Loren Burstein, Senior Business Development Manager, and Clyde Seseri, Underwriter, will return to discuss the details of these programs, including Personal and Group Excess Liability, and your questions!

Even if you attended the High Value Home Webinar last October, you won’t want to miss this opportunity to learn more about the specifics of the Chartis Private Client Group.  Sign up today!

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Technology has existed from the first time a human made fire. Insurance has a shorter history by comparison, but it dates back further than one might expect. As far back as 3000 B.C., Chinese merchants developed a technique of sharing risk when transporting goods on treacherous rivers. Egyptian stonemasons organized a club to provide funds for the burial of their members. In Babylon, The Great Code of Hammurabi (ca. 1790 B.C.) provided for the transfer of the risk of loss from merchants to moneylenders. In more recent times, Benjamin Franklin created the first mutual fire insurance company in the U.S. in 1752.

Today, computer hardware and software, e-commerce, and intranet infrastructure present much newer technologies than shipping, funerals, and fire. These new technologies require new types of insurance to cover the risks associated with lost data, virus attacks, and security breaches.

Apple recently unveiled their brand new iPad, and just on the horizon are bracelet-sized smart phones and roll-up tablet computers. The portability of information creates more risks and more opportunities. Because technology is often the core of many businesses, and often the medium through which services, goods, and money are transferred, technology insurance is a necessary part of business.

Technology Insurance: Stuckey & Company’s Specialty

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At Stuckey & Company, we know the technology business. We are one of the largest providers of technology-specific insurance programs that offer comprehensive coverage for this intricate industry. We believe that any business involved in the tech industry should be aware of three types of technology insurance:

First, Technology Professional Liability Insurance coverage from Stuckey & Company protects your clients from claims alleging negligence in the provision of technology products and services. This line is designed for a broad range of clients, from funds transfer software to database design. For tech companies of all sizes, the risk of errors and omissions is often greater than general liability exposure– and without adequate professional liability coverage, companies may be vulnerable to expensive lawsuits.

Second, Electronic Media Liability Insurance provides coverage for electronic publishing, web casting, or other distribution of electronic content on the Internet. Coverage includes copyright, domain name, trademark, trade name, trade dress, service mark, service name, title and slogan. Electronic Media Liability Insurance coverage gives an insured protection against unauthorized access, unauthorized use, or a denial of service attack to the insured’s computer system.

Third, Network Operations Security (NOS) Insurance covers network operating systems (NOS) or network operations centers (NOC) that link and support workstations, personal computers, and terminals. Network Operations Security Coverage available from Stuckey & Company offers liability insurance for damages arising from a NOS or NOC security failure. One network operations mistake or error could present companies with significant financial dangers including damage to software or data, business interruption, and even cyber-extortion.

Stuckey & Company has created several specialized technology insurance programs, providing the perfect blend of coverage for these unique segments of the industry:

•  SafetyTek – A comprehensive insurance package for software, Internet, and computer consulting companies.

•  TekManufacturing – Insurance coverage for computer & electronic manufacturers.

•  TekSchools – Insurance coverage for professional education, trade, and vocational schools.

•  BioTek – Insurance coverage for firms performing clinical trials and contract research for human health care.

•  TekHD – A multi-media insurance program designed for clients working in multiple media settings.

Contact Dwight Stuckey at 800-828-3452 extension 22, or dwight@stuckey.com

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Want to learn more about Tech Insurance from Stuckey & Company?  Attend our FREE WEBINAR on Feb. 19, 2010 at 2:30 pm cst. Representatives from The Hartford will be discussing “What is Tech Business?“, providing details about each of their tech-related programs.  Perfect for agents who are relatively new to the tech industry, as well as pros in the field!

Join Tracey Hagy-Kelly and Kris Fistick of The Hartford as they discuss the nuts and bolts of the Technology program.
This 30-minute session will provide you with valuable coverage details and the ability to have your questions answered directly by the carrier.

We will cover “What is Tech Business?” and the four areas of tech insurance as outlined by The Hartford, including the targeted SICs.

Don’t miss this opportunity to delve deeper into this important topic!