Month: October 2019

The Basics of Malpractice Tail Coverage

Axis : The Basics of Malpractice Tail Coverage

While malpractice insurance is common in the medical industry, the legal and healthcare industries also rely on claims-made policies such as malpractice tail coverage. A claims-made policy provides coverage for claims made against a professional relating to services they provided during the time their policy was active.

Understand Malpractice Tail Coverage Costs

How much does malpractice tail coverage cost? No matter your area of professional specialty or where you live and work, this type of coverage is costly because it requires policyholders to pay an expensive additional premium. The premium can often be as much as 200 percent of the claims-made policies price. The good news is that you may be able to break this cost down into a payment plan. You may also be able to classify it as a tax write-off for unreimbursed business expenses.

While some professionals may receive de facto malpractice tail coverage because they’ve had long-term insurance with their carrier, most will need to seek it through their current insurance provider. As you might imagine, costs can vary depending on the following and other factors:

  • Your specialty
  • Your location
  • Your insurance provider

Consult Your Insurance Agent

Professional and management liability insurance industry leader Axis recommends you seek advice from your insurance agent when considering malpractice tail coverage. Their knowledge and expertise can help you secure the coverage solution that will work best for you.

Why You Need Insurance That Understands Your Business

financial institutions

While all businesses are well-advised to buy general liability insurance, not all business insurance needs are covered by it. Even if you discount policies like worker’s compensation and property liability, your core business will still have some specific needs that general liability doesn’t cover. Chances are, you’ll also have some assets and equipment outside its scope, so you need to work with professionals who understand your industry to make sure you have the right set of coverage options.

Insuring Financial Organizations

Hedge funds, brokerage firms, and financial institutions have unique needs because they have obligations to their clients beyond what many businesses find themselves taking on. Insuring financial institutions takes a special risk management strategy and a knowledgeable assessment of the institution by experienced professionals. On, a comprehensive list of the specialized assistance a knowledgeable operator can bring highlights the importance of technical expertise and advice as your organization develops and its needs change.

Market access is just as important as a proper assessment of your needs. When you work with people who make your business their business, you gain the benefits of their professional network. That makes it easier for you to get everything you need from your policy, including service from some of the top industry carriers in the world.

Employee Theft by Forgery Explained


Employees are the most common thieves within a company. Protecting the business with a crime policy helps extend the reach of theft to include those acts done by employees. Forgery is a common theft a business must contend with.

Forgery Explained

Someone who commits forgery falsely creates or alters documents with an intent to deceive. The FBI takes forgery crimes seriously. However, the intent to deceive must be proven. The laws governing the prosecution of forgery are changing as thieves become savvier in the deceptions. The economic gain thieves can obtain from moving funds over, pretending to be someone else or creating legal documents can be worth the effort to the person.

Forgery Examples

Beyond notable pieces of art, forgery can include a variety of other documents or valuable objects. According to, forgery can happen with commercial charge cards, promissory notes, checks and personal account funds. Identity theft is a common crime perpetrated in the Digital Age due to the availability of online accounts.

Simply because your business does not involve the world of art does not mean it cannot happen within your business. Employees can alter small bits of information over time costing the business lots of money if left unchecked. A crime policy steps in to protect your business should theft such as forgery occur.

8 Tips for Long-Haul Drivers

stay awake on long drives

Keeping the truck moving is how trucking companies make money, but drivers can become tired of hauls. Fortunately, there are tips that can teach you how to stay awake on long drives, so you can deliver your cargo on time, drive safely and keep your business moving.

Helpful Tips To Keep You Awake and Healthy

When you become drowsy, it affects your entire body and can lead to dangers on the road. However, there are many things you can do to keep your mind engaged and your body refreshed so you can safely make it to your destination without feeling like a zombie. Here are eight things you can do to stay awake, alert and focused while driving, especially if it’s at night:

  1. Nap before hitting the road
  2. Stay hydrated with water, not caffeine
  3. Eat healthy meals and snacks
  4. Take vitamins
  5. Switch between talk shows, music stations, and audiobooks
  6. Take a 20-minute catnap
  7. Open the windows for cold air
  8. Stretch your legs

Stay Alert When You Hit the Road

According to the information on, these tips are meant to teach you how to stay awake on long drives so you can drive safely, help your company make money and meet the delivery schedule. Now you’re ready for your next long haul drive!

5 B2B Insurance Selling Tips To Boost Your Sales

information found at the blog for

Businesses need insurance for added protection and to operate safely. Insurance companies know this and yet, it can still be difficult to make sales. Take a look at the five important things your company can do to increase the likelihood of boosting your business to business insurance sales.

How To Create a Strategy for Better Sales

Standing out in today’s insurance market can seem like a stroke of luck, but there are a few things you can do to put your best foot forward and reach your ideal consumers to make sales. Take a look at the five things you can do to better interact with your audience and boost your marketing potential:
Understand your unique selling proposition
Focus on the customers, rather than making a sale
Don’t hide your costs
Talk to the people who have the power to make insurance decisions
Keep up-to-date with your audience’s needs
Start Implementing These Tips In Your Business
Everyone wants to increase their sales and grow their business, but it can be a challenge with business to business insurance sales. Fortunately, there are several things you can do to give your company a leg up on the competition. The information found at the blog for details some of these tips, so is sure to check it out for more information.

Reducing Administration or Director Risks

In every decision of business operations or management, there is an inherent risk. Regardless of the size of your business or what industry you operate in, there is the potential for legal action taken against your company, your board, and the executive team. There is a risk transfer tool that can be utilized to safeguard the company funds as well as the personal assets of those in management. A management liability policy is a cost-effective way to address these exposures.

Package Options

With insurance policies, there is rarely a one-size-fits-all plan. There are many variables that affect both the risks and corresponding activities to settle a claim, and your plan should be carefully tailored to the needs of your company. The professionals at advise working with an insurance agent for a packaged option that meets the liability needs. Usually, these packages include:

Directors and Officers Liability
Fiduciary Liability
Employment Practices Liability

A plan will typically cover the legal costs associated with a defense against a claim or judgment awarded against them. The policies will often include structured approaches to limits, which can impact how much is covered. If activities have occurred to willfully harm the customer or were unlawfully conducted, the insurance company will not assist with the litigation costs.
For the best understanding of your company’s exposures, a risk management assessment might be a good investment. Knowing the areas of risk help you craft a more specific and comprehensive liability insurance plan.