Protector Plans

Protector Plans is pleased to share its 2024 Market Report highlighting certain key areas of our business and trends we expect will impact the insurance industry in the coming year: (1) increased litigation and litigation costs; (2) greater frequency and severity of claims; (3) entrance of tech and artificial intelligence (AI); and (4) rise of sustainability and environmental, social and governance (ESG) factors. #insurance #2024insurancetrends #riskmanagement

Small to mid-size businesses often assume they fly under the radar when it comes to worker misclassification, but that’s not the case. Take the case of a writer who went in for a job interview and was surprised to learn the company intended to pay her only as an independent contractor, despite them setting the job hours and scope of work, and requiring in-office attendance on a full-time basis. Misclassification is not always an attempt at avoiding insurance coverage and other benefits to employees, like in the above instance. When the standards are unclear, employers are more likely to inadvertently misinterpret the guidelines. Read three more scenarios and learn why proper classification matters here. https://ow.ly/VymR50Q5CMl #ExecutiveLiability #ExecutiveLiabilityInsurance #ManagementLiability #DirectorsAndOfficers

The U.S. Department of Labor (DOL) proposed a new rule in October 2022 to redefine who is considered an employee vs. independent contractor. With this new rule, the DOL seeks to protect workers from the harms of misclassification, but misclassification can also be a challenge to businesses. To ensure you aren’t misclassifying your employees as independent contractors, read our blog here. https://ow.ly/iJWa50Q5CAl #ExecutiveLiability #ExecutiveLiabilityInsurance #ManagementLiability #DirectorsAndOfficers

With a growing number of U.S. workers choosing non-traditional employment via the gig economy, and the fact that 29.5% of total employer compensation costs account for benefits, the appeal of using independent contractors versus full-fledged employees is clear. Complications emerge when a company does not ensure their working relationships are clearly defined, or adhere to classification requirements laid out by the Department of Labor as well as their state. Are you misclassifying employees as independent contractors? Learn the four key steps to avoiding this here: https://ow.ly/yOkL50Q5CFy #ExecutiveLiability #ExecutiveLiabilityInsurance #ManagementLiability #DirectorsAndOfficers

Protector Plans roundtable with Kelley Kronenberg delved into topics from control tests of the past to evolving economic dependency measures of today. Angelo Filippi, Partner of Employment Law and Howard Wander, Principal Partner / COO offered timely and practical insights on how employers can avoid misclassification pitfalls. 👇 Check out our EBook with special thanks to all contributors! https://lnkd.in/eJ-c8ZUT Gregory Boornazian Mark Munsey Christie Vu, Esq., CPCU, ARM #epl #employmenttrends #independentcontractors

2023 Executive Liability Trends: What you need to know when selecting a market partner High interest rates, rising bankruptcies and increased insurance claims highlight the importance for business owners and directors to secure comprehensive liability coverage. You want to work with an experienced team that offers tailored products, personalized service, and quick turnaround to safeguard businesses from a range of liabilities across various industries. #ExecutiveLiability #ExecutiveLiabilityInsurance #ManagementLiability #DirectorsAndOfficers https://ow.ly/oygF50PS0GY

Protector Plans Executive Liability has launched a primary product offering. The Protector Plans Executive Liability insurance program now offers D&O liability, employment practices liability, fiduciary liability, employed lawyers, crime and miscellaneous professional liability coverage for private and not-for-profit risks. Coverage is available for risks up to $750 million in revenue and assets or 2,500 employees with limits up to $5 million per coverage section. #ExecutiveLiability #ExecutiveLiabilityInsurance #ManagementLiability #DirectorsAndOfficers https://ow.ly/3Nsc50PMPoj

Smaller businesses often claim their staff is one big happy family, but the reality is this is simply not true. Employees have certain expectations of their employers, and even long-term, reliable employees can seize an opportunity for personal gain. Employment Practices Liability Insurance is a business’s main protection against claims of discrimination, harassment, retaliation and wrongful termination, and with such claims on the rise, it is just as important as professional liability coverage. #ExecutiveLiability #ExecutiveLiabilityInsurance #ManagementLiability #DirectorsAndOfficers Learn more about the crucial role this type of insurance plays here. 👇 https://ow.ly/JHOP50PbVN9

The Professional Protector Plan® for Dentists announces new brand and website launch The Professional Protector Plan® for Dentists (PPP) announced today the launch of its newly designed brand and website. The PPP provides dental malpractice insurance, including professional liability, general liability, property coverage, employment practices and a comprehensive risk management program for dentists in all career stages. The new website is more accessible and modernized, making it easy for dentists to find the information they need. https://ow.ly/sbAM50Pn0vW

“Everyone knew that person wasn’t doing their job,” doesn’t stand up in court, and best intentions count for very little when there isn’t any proof to back up an employment termination decision. Since documentation cannot be retroactively created, here are four best practices for employers to build a consistent firing process and be better protected against wrongful termination claims. #ExecutiveLiability #ExecutiveLiabilityInsurance #ManagementLiability #DirectorsAndOfficers https://ow.ly/z6Bf50PbVxv