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Why CPAs face more risk than ever before
The accountant’s role has morphed into something more complex and liability prone. With firms offering services like investment consulting, offshore outsourcing, and even insurance sales, they’ve entered regulatory minefields – without necessarily updating their risk protections. Tax-related claims now account for over half of the liability cases at McGowan Program Administrators, and exposure is only…
Universal Property & Casualty wins appeal over prompt notice, insurer’s coverage defense reinstated
On appeal, Universal also challenged the homeowners’ procedural handling of the waiver issue, arguing they failed to properly plead it. The Fourth District agreed, holding that waiver must be explicitly raised in response to an insurer’s affirmative defenses. The Yagers, it found, did not do so until five months after Universal’s answer, and even then,…
Insurance hires at Zurich US, Lockton and Global Aerospace
In his new role, Beresheim will focus on aligning leadership with evolving client needs, streamlining operations, and driving innovation across Lockton’s risk offerings. He has played a pivotal role in developing the firm’s specialty practices, with a focus on cyber & technology, transaction liability, and private equity. Source link
Zurich loses bid to block Rhode Island law in bad faith claim over NYC property
Zurich was represented by Mound Cotton Wollan & Greengrass LLP, with Philip C. Silverberg as counsel. Providence Capital LLC and Sherle Wagner International LLC were represented by Kevin Schlosser of Meyer, Suozzi, English & Klein, P.C., and Daniel M. Rabinovitz of Murphy & King, P.C., admitted pro hac vice. Source link
WTW strengthens credit risk services with new deal
“This acquisition is part of our strategic effort to scale high-growth broking businesses and expand our capabilities across the insurance value chain,” said Scott Burnett, head of corporate mergers and acquisitions for WTW’s risk and broking division. “GCC brings strong market penetration, especially in the trade credit space, and will significantly enhance our scale and…
4 Policies Tool Manufactures Need to Protect Their Business?
The tool manufacturing industry is growing steadily, fueled by demand across construction, industrial, and consumer markets. For tool manufacturers, the global “hand tools and woodworking tools” market size was valued at $10.3 billion in 2022 and is expected to expand at a compound annual growth rate of 5.1% from 2023 to 2030. As tool manufacturers…