Click How to Make a Professional Liability Insurance Claim in Six Easy Steps
Making a professional liability insurance claim is a straightforward process. Usually, you have to: Contact your insurer or agent. Read your policy. Confer with your agent. Gather records and document all communications with your client. Dissatisfied clients sue. It’s a fact of business. Claims can arise for a variety of reasons, some justified, some not. […]
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Rickard Jorgensen - Posted in Claims, claims notification, client communications, Client records, Client relations, due diligence, email risk management, policy wording, professional liability claims, Ralph G. Picardi, risk management, Uncategorized
Jun, 06, 2018
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Your Malpractice Insurance Policy May Not Cover You for Fraudulent Wire Transfers
by Rickard Jorgensen, FCII, ACIArb., ARM Back in July 2017 we posted a blog about a protocol to minimize the possibility of a social engineering claim (Go here for the posting). This topic has become of interest to CPAs as the number of spoofing claims has increased. A recent posting on the KnowBe4 website (go here […]
- Posted by Rickard Jorgensen
- Posted in being sued, Claims, Coverage, coverage limitations, Cyber Liability, insurance, lawsuit, Phishing scams, policy coverage, professional liability claims, social engineering, Uncategorized
- May, 02, 2018
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Who handles my claim at QBE?
We’ve had some really positive feedback about the excellent claims specialists at QBE. Fast, efficient and expert are some of the admiring words we’ve heard. But who are the good folks and what do they look like? I asked the guys to give us a quick bio and photograph so if you ever need to […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Claims, claims notification, insurance, lawsuit, Uncategorized
- Mar, 09, 2018
- No Comments.
Does your malpractice insurance cover you for criminal acts?
A Florida CPA was sentenced in federal court in Boston for multiple counts of tax fraud and obstructing the Internal Revenue Code. Greg Takesian, 54, of Miami, Fla., was sentenced last Thursday by U.S. District Court Judge William G. Young to two years in prison and one year of supervised release, and was ordered to […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Bad policies, Claims, coverage limitations, criminal behaviour, due diligence, Fraud, insurance, lawsuit, policy coverage, policy wording, Uncategorized
- Mar, 09, 2018
- No Comments.
How Long Is Too Long to Wait for Malpractice Actions?
By Seth L. Laver, Andrew P. Carroll and Sean P. Beiter of Goldberg Segalla Guest bloggers from the law firm Goldberg Segalla posted the following which we thought is timely and pertinent: One of the most common problems facing a would-be plaintiff considering a malpractice case is when to file suit. Similarly, those that defend professionals […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, being sued, Claims, claims notification, coverage limitations, lawsuit, professional liability claims, Uncategorized
- Feb, 05, 2018
- No Comments.
Can a Single Lawsuit = Multiple Claims?
by Seth L. Laver, Michael P. Luongo and Michael T. Glascott Professional liability insurance is necessary to any responsibly-run professional practice. The limits of coverage available under an E&O policy help to protect professionals against financial loss. However, the limits of coverage between different policies do not necessarily offer the same protection, even if the […]
Read More- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, being sued, Claims, Client relations, Mediation, risk management, trial
- Sep, 11, 2017
- No Comments.
Put it in writing – Guidelines for file documentation
Documentation can help you avoid, or at least minimize, professional liability claims. It helps improve communication between your clients and staff. Documentation also provides value-added service to clients, while creating potential new services. Certain engagements tend to increase client perception problems because the scope and areas of responsibility are unclear. Documentation is absolutely vital in […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Claims, Client relations, file documentation, File retention, professional liability claims
- Aug, 08, 2017
- No Comments.
How To Minimize The Damage Of Lawsuits
by Rickard Jorgensen, FCII, ACIArb., ARM Things Beyond Your Control That Precipitate Lawsuits With the advent of the computer era and information age, the cultural and business climate of the nation, and world, has shifted. Businesses have become more complicated, as attitudes sanction greater and greater risk-taking. No longer are there sure-fire lifetime jobs […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, being sued, Claims, Client relations, Client screening, due diligence, engagement letters, engagement letters, file documentation, File retention, lawsuit, risk management, Uncategorized
- Aug, 08, 2017
- No Comments.
WannaCry provides a wakeup call for more training on email exploits
Originally posted May 14th, 2017 by Paul E. Paray, Esq. here. On May 12, 2017, WannaCry ransomware infections reportedly took hold of 200,000 computer systems in 150 countries. Experts have been warning against ransomware exploits for years. The recent rise of ransomware, however, has been a function of the low cost of financial data on the dark […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Claims, Cyber Liability, Fraud, Paul Paray, professional liability claims, risk management, social engineering
- May, 15, 2017
- No Comments.
Mergers and Acquisitions: Malpractice Risk Management
Due diligence is an essential part of the mergers and acquisitions evaluation process. It goes without saying that the partners of the acquiring firm have strong financial analytical skills but there are additional factors to be taken into consideration. Recognizing these elements during the due diligence process will reduce the risk of a malpractice claim […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Claims, Client screening, Coverage, due diligence, insurance, mergers, professional liability claims
- May, 15, 2017
- 1 Comment.
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