According to The Insurance Journal, dated December 4th, 2019, fifteen states have revised their laws in the past two years extending or suspending statute of limitations to allow child sex abuse claims stretching back decades, unleashing potentially thousands of new lawsuits against the U.S. Roman Catholic Church.
Click here for the full story.
GivingTuesday is a global generosity movement unleashing the power of people and organizations to transform their communities and the world on December 3, 2019 and every day.
One of the best ways to give is to get involved is in your own community. We have supplied a link to a directory to help you find organizations, events, and ways to give back in your own community.
Thank you for giving!
Because insurance carriers are experiencing higher than expected losses, a hardening insurance market is rearing its ugly head. A hardening market means increased premiums and tighter underwriting requirements for many lines of coverage, including; commercial property, E&O, D&O, Auto and EPL. The 2017 hurricane season and the 2018 California wildfires resulted in a combined insured loss of more than 212 billion dollars and are major contributors in this turn.
One area being hit particularly hard is the adoption & foster care sector. Due to increased litigation, settlements and judgments, some carriers are now reluctant to offer broad coverage with high limits. Some carriers are even exiting these markets all together, making it much harder for some brokers to have access to carriers that are willing to write these risks, let alone even to provide a quote.
In a hardening market, there are three things that can help you ride out the storm:
- Specialty Broker:Having a broker that specializes in your line of business and knows your unique risks and exposures is imperative in positively representing your best interest to the insurance carriers. Their specialty allows them stronger relationships with underwriters, greater negotiating power to lower premiums and access to more carriers than that of a generalist broker. Remember, an insurance broker (vs. an agent) works for YOU, not the insurance carrier.
- Risk Management:A clean loss history is always more favorable than a poor loss history. A poor loss history tells the carrier that you are a bad risk. This can result in even higher premiums or worse yet a non-renewal notice. By designing and implementing a strong risk management plan, your broker can paint a positive picture to the insurance carrier and show that you are proactive in helping to eliminate or reduce your risk.
- Don’t Hop Around:Believe it or not, jumping from carrier to carrier every year looking for the lowest price can cost you more in the long run. Carriers have been known not to quote simply for the fact that the insured is not loyal to any one carrier. Showing stability and loyalty (even if you have a loss and premiums increase) is a positive indicator in the eyes of the carrier.
Even in this hardening market, Hawley & Associates continues to exclusively serve the nonprofit and social service community. Our specialty allows us broad access specialty markets & programs, including programs for hard-to-place risks, such as adoption & foster care. Let our mission empower your mission!
Veteran’s Day was November 11th, so I am a little late in writing this post. But, we didn’t want the day to go by without honoring all the men and women who have served in the United States Armed Forces. We are forever grateful for your service and sacrifice.
The Wayne Hawley Giving Grant is exclusive to Hawley & Associates’ clients, and has help support programs, projects and organizations whose focus is to benefit children, families, and our communities.
We would like to thank everyone who applied for the grant in 2019. We had a record number of applicants and it was so difficult to make our selection! Everyone was so deserving! Thank you to all our clients for the amazing things they are doing to help make the world a better place for so many.
Please click here for information on this year’s recipients.
Hurricane season begins June 1st, 2019 and the National Oceanic and Atmospheric Administration (NOAA) is predicting a ‘near-normal’ hurricane season, due to El Nino and warmer-than-average Atlantic waters. They also predict a range of 9 to 15 named storms, which could include 2 to 4 major hurricanes (winds over 111 per hour).
If you operate your nonprofit or social service organization anywhere near a coastline, preparation is your best defense in minimizing the impact to your agency.
A thorough review of your commercial insurance policies is essential in preparing for the unpredictable. Get to know all of the exclusions in your policy, and if needed, talk to your insurance broker about purchasing separate coverage, such as flood or business interruption insurance. Without the proper coverage, you could be forced to pay out of pocket for the damages that are excluded in your policy. Could your agency survive that?
Contact Hawley & Associates today for more information on the specialized insurance solutions your nonprofit needs to protect your mission this hurricane season.
Employment Practice Liability Insurance (EPL) covers allegations from employees against other employees and/or the employers itself based on discrimination, harassment, wrongful termination, retaliation and other specified “Wrongful Acts”. This is what is commonly known as “First Party” EPL coverage, the first party being the employee as the claimant.
So, what is a “Third Party” EPL claim? Allegations of specifically discrimination or harassment against the employees and/or the employer from “Third Parties” with whom the employees come in contact while conducting business on behalf of the organization.
Third Parties can include:
➢ Independent contractors on the organization’s premises, like cleaning people.
Classes of business with Third Party EPL exposure include:
➢ Artisan contractors (plumbers, landscapers, etc.)
➢ Business services (accountants, consultants, etc.)
➢ Commercial daycare centers and summer camps
➢ Fast food restaurants
➢ Fitness Centers
➢ Hotels and motels
➢ Retail stores, including convenience stores and supermarkets
Many employers do not realize that they have a gap in their insurance coverage that leaves them open and vulnerable to lawsuits from customers, clients, vendors and suppliers.
Contact Hawley & Associates today for more information on Third Party EPL insurance for your organization.
Hawley & Associates, in partnership with the NCFA (National Council for Adoption) have come together once again to form the 2014 H&A Caring Fund Grant. This years grant will be in the amount of $5000.00. The Caring Fund is our small way of giving back and helping to make a difference in the non-profit world in which we work.
The grant was founded in 2013 and is open to all NCFA National Adoption Conference attendees. This years conference is being held at the Buena Vista Palace Hotel & Spa in Orlando, Florida, on June 19-20, 2014 .
Over 25 organizations submitted grant applications last year and we enjoyed learning about these organizations and the wonderful work that they do!
We hope to see you at the conference!