Consequences Just Ahead
While driving, you see warning signs like “Uneven Road”, “Fallen Rock”, “Bump”, “Dip”, “Yield”, “Give Way”, “Slow Down”, and “Reduce Speed”, alongside speed limit signs. These are warnings with consequences.
A Look at the Insurance Outlook for 2025
A 2024 study by Chubb (16th Annual Liability Limit Benchmark & Large Loss Profile by Industry Sector) found that the coverage gap is widening due to nuclear verdicts, which have soared to $18.3 billion—a 273% increase since 2020.
Practice is Your Business — Insurance Protects Your Business
As a business, you should think strategically each year because your goals will change over time, and therefore, so must your strategy and tactics.
Social Work Licensure Compact Status
Make sure that your professional liability policy covers your multi-state practice. If an out-of-state licensing board files a complaint against you, your home state licensing board may initiate a parallel investigation.
Say Hi to AI
Don’t rely on the convenient, repeated use of artificial intelligence (AI) in your therapy documentation. AI has been receiving a lot of publicity lately. While it offers benefits in therapy, behavior prediction, and support functions, it also comes with risks.
The 4 Pillars of Your Practice
There is a ubiquitous philanthropic purpose and benevolent spirit within social workers and their professional services. Caring is a critical intrinsic quality among social workers.
Easy Cheese in the Mousetrap
Preferra’s experience in claims adjudication and legal defense of social workers has identified a loophole that plaintiffs’ attorneys use to enhance their lawsuit allegations.
The Claims-Made Professional Liability Policy… Saves YOU Money!
Beware of insurance administrators, agents, and carriers that say they sell “lifetime coverage.” That is a marketing gimmick.
Today’s Flavors of Cyber Crime Liability
What do we mean by “flavors” of cyber-crime liability? We often see news reports about exposing people’s credit card information and retail credit card information breaches, leading to multimillion-dollar thefts.
A Word of Warning
Here is a simple question about your liability insurance. Do you think you are insured when heading over the waterfall into bankruptcy and do not know it?
Ready or Not, Here I Come
Do you remember when we were children playing hide and seek? After the count-down giving your friends time to hide, you would yell out “Ready or not, here I come ”?
UNCHARTED TERRITORY – Lawsuits Filed Against You
What is social inflation? It is not a common term outside of the insurance industry. Still, it is a dagger thrust into the heart of insurance carriers, and indirectly into you, that has continued to increase insurance policy premiums, increase deductibles, increase exclusions, and decrease sub-limits.