This position offers a competitive base salary plus commission, 401k, FSA and healthcare plan and offers significant growth potential.

The successful individual will report directly to the Vice President of Sales and manage a book of professional liability accounts independently with responsibility to grow this book of business. The candidate will be responsible for managing day to day activities of the accounts and cross selling other products to existing accounts.

Primary Responsibilities Include:

* Producing new business as well as growing an existing book of business
* Interacting Daily with our sales staff and insurance markets for the delivery of services to our clients
* Cross Selling additional professional liability products
* Client communication and coordination
* Coordination with sales staff on new/existing client accounts
* Development and organizations of efficient client files

Key Job Requirements

* Property and Casualty Insurance licensed. _ This is a MUST. Do not apply if you do not hold a producers license.
* Experienced user of AMS360 or similar paperless system is helpful but not mandatory
* Must be a self starter and able to work independently
* Must be computer competent and fluid in the use of miscrosoft products
* Must be able to assume responsibility for resolution of client issues
* Must be detail oriented and well organized
* Must have excellent computer/Internet skills
* Must be proficient in Microsoft Word, Excel and Outlook
* Excellent communications/telephone skills required.

About Axis Insurance Services, LLC (www.axisins.com)

Axis Insurance Services LLC is a professional liability insurance agent and broker licensed in multiple states. The insurance agency is in a significant growth mode and expanding its core business. We are seeking talented and dedicated insurance professionals that want to be part of our growth and expansion and looking for an opportunity to learn new products. The position has excellent growth potential. Located in Franklin Lakes, New Jersey, Axis and its agents provide insurance services to clients in most states.

Immediate opening. Reports to the Vice President of Sales Salary and benefits are commensurate with experience but will range from $30,000 to $80,000, depending upon experience. Email confidential resume and salary requirements to jconfer@axisins.com.

Additional Insured Status

An additional insured status on an insurance policy typically extends coverage to a third party (someone other than the named insured) in the event of a claim that relates to the named insured. For example a building owner might be an additional insured on a tenant’s general liability policy. Another example might be a company listed as an additional insured by a contractor on their general liability policy. In both cases if the Additional Insured is sued as a result of liability of the named insured, then some coverage would be afforded to the additional insured. This coverage is not typically direct liability coverage for the additional insured unless somehow as a result of liability from the Named Insured.

In most cases the additional insured status in the policy only applies in the event that the underlying insured has agreed to indemnify the additional insured in writing. So when a client calls an insurance agent and asks that that someone or some company be added as an Additional Insured. It is incumbent on the insurance agent to confirm that a written indemnification exists between the insured and the additional insured. What can happen from an E&O perspective is that the carrier winds up being on the hook for the defense and indemnification of the Additional insured and then the insurance company seeks recovery from the insurance agent.

The facts and circumstances of each individual case dictate whether the agent or the company ultimately wins, however, it is always a very difficult situation and can often be avoided with the proper internal policies. The best defense is a good offense. When a client asks for additional insured status on a Certificate, the insurance agent or broker should obtain sufficient documentation to support the extension of coverage.

Certificate Holders versus Additional Insured

A Certificate Holder is different from an Additional Insured. A Certificate Holder is simply someone requesting evidence of insurance and who is also requesting some notification in the event that the coverage is cancelled or modified. A Certificate Holder is not afforded any coverage under the policy. One common E&O claim relates to insureds that request requesting a Certificate of Insurance with a Certificate Holder. In some cases they really mean they need additional insured status because of a contract but are not up to speed on the lingo. We have seen many Errors and Omissions Insurance claims where a third party sued an insurance agent for issuing a Certificate of Insurance as a Certificate Holder as opposed to as an Additional Insured. This can be further complicated because often the insurance agent was not asked to provide an Additional Insured status for the client. The alleged negligence claim against the insurance agent comes because the agent allegedly did not ask for the details of the request which led to an inadequate Certificate of Insurance.

Our advice to insurance agents is that when issuing a Certificate of Insurance they explore the reason for the Certificate and any supporting details necessary. This may seem like a lot of work; however, it is necessary and can help mitigate errors and omissions insurance claims

Immediate opening for an experienced licensed Property Casualty Account Manager for a Commercial lines Insurance Brokerage. We are a Professional Liability insurance brokerage located in Franklin Lakes New Jersey. The successful customer service candidate will work with a staff of 15 professionals in a growing and dynamic company. The company has grown over 500% in the past 4 years. This position offers a competitive salary, 401k and healthcare plan and offers significant growth potential.

The successful applicant must have experience as a licensed commercial lines customer Services Rep ( CSR ) or an account manager manager, strong organizational skills and possess the ability to work independently. AMS360 policy management systems experience or similar paperless system is a plus. Since a significant portion of the business is internet driven, use of computer technology including miscrosoft products and the AMS 360 system is preferred for a successful candidate. This is a highly fluid office and requires an individual that can multitask and prioritize. Organizational skills are a must. A candidate that is unorganized and needs constant supervision need not apply.

The successful individual will work with our Account Executives and manage a book of professional liability accounts independently. The candidate will be responsible for managing day to day activities of the accounts and cross selling other products to existing accounts.

The successful candidate will be among a team of professionals in several states. The company offers a competitiv salary and benefits comensurate with experience.

Primary Responsibilities Include:

* Servicing and Managing all aspects of client services for our Professional Liability clients
* Working with Account Executives and Sales personnel in quoting, binding and billing new and renewal business.
* Interacting Daily with our sales staff and insurance markets for the delivery of services to our clients
* Cross Selling additional professional liability products
* Providing day to day customer service to our new and existing clientele
* Client communication and coordination
* Developing and improving the company’s processes and procedures
* Ongoing daily customer service functions such as Certificates of Insurance, policy changes, invoicing, processing of claims, etc
* Update and maintenance of client files/coverages
* Coordination with sales staff on new/existing client accounts
* Development and organizations of efficient client files

Key Job Requirements

* Property and Casualty Insurance licensed. _ This is a MUST. Do not apply if you do not hold a producers license.
* Experienced user of AMS360 or similar paperless system. Helpful but not mandatory
* Must be a self starter and able to work independently
* Must be computer competent and fluid in the use of miscrosoft products
* Must be able to assume responsibility for resolution of client issues
* Must be detail oriented and well organized
* Must have excellent computer/Internet skills
* Must be proficient in Microsoft Word, Excel and Outlook
* Professional liability experience a plus, but not necessary.
* Excellent communications/telephone skills required.

About Axis Insurance Services, LLC (www.axisins.com)

Axis Insurance Services LLC is a professional liability insurance agent and broker licensed in multiple states. The insurance agency is in a significant growth mode and expanding its core business. We are seeking talented and dedicated insurance professionals that want to be part of our growth and expansion and looking for an opportunity to learn new products. The position has excellent growth potential. Located in Franklin Lakes, New Jersey, Axis and its agents provide insurance services to clients in most states.

Immediate opening. Reports to the Head of the Customer Services Department. Salary and benefits are commensurate with experience but will range from $30,000 to $60,000. email confidential resume and salary requirements to jconfer@axisins.com.

Responsibilities Include

1. Email Campaigns
2. Researching industry topics.
3. Posting articles the company’s various blogs and to other social media.
4. Maintaining and updating the company’s websites and email server.
5. Publishing a periodic newsletter including the development of topics and writing content.
6. Arranging for media publishing, including development of Ad, videos and other forms of media communications.
7. Developing reports of campaign and other social media successes and failures.
8. Communication with management and sales staff.

Experience Required

1. Must be an excellent Writer
2. Must be highly organized
3. Must be a self-starter and able to work independently
4. Must be proficient in Microsoft Office Products such as outlook, Word, PowerPoint
5. Should be proficient in understanding social media, such blogs, Facebook, Twitter, LinkedIn and other similar media

The position will require a Confidentiality Agreement.

The position is somewhat flexible. The preferable candidate will work in our
Franklin Lakes New Jersey office. Arrangements for telecommuting are possible, but it will depend on the candidate and their capabilities.

The salary range is negotiable based on the experience of the candidate but will range from $35,000 to $50,000.

Recruiters please do not contact us regarding this job posting.

Please send confidential resume and salary requirements to Justina Confer HR Director at jconfer@axisins.com or 201-824-7844 regarding this position.

1. It is a financial guarantee. Therefore the bonding company will require evidence of financial worth. This can include tax returns, financial statements or other information regarding the ability of the insured to repay the bond in the event it is called.

2. Most receivers are appointed personally. That means that the liability and the potential repayment of the bond are often personal guarantees. As such it is very common for a bonding company to require the bond be signed by a spouse.

3. The bond has a time period (policy period). That means the bond will expire on a certain date and need to be renewed. It is possible that if your financial condition has changed, the bonding company may require collateral.

4. You may have to post collateral Since, the bond is based on a personal guarantee and the ability of the insured to make good on the bond, Receivers may have to post collateral if they have a significant amount of bonds. Receiver bonds are typically $25,000 to $50,000, depending upon the state and jurisdiction. If you were the receiver on 10 properties, an insured might have to show new worth in excess of $500,000 to get additional bonds without collateral.

Axis Insurance Services LLC provides our clients with access to receiver bonds properly structured to meet the needs of our commercial real estate clients. Please contact one of our licensed representatives and they will be happy to assist

The day was shared with about 2000 youths in New York and included Ambassadors and other dignitaries from Peru, St Lucia, Finland, Kazakhstan just to name a few. DFOY is an organization that works every day in the most troubled schools and in the most distressed neighborhoods to help those students most in need. DFOY’s goal is to provide leadership and inspiration through workshops, mentors, college visits, the arts and recreation. DFOY focuses on community development and youth empowerment while adhering to the principles of equality, fair play and cooperation. For more information, please see DFOY’s website at www.dfoy.org.

Helping in our community is very important to the mission of Axis Insurance Services LLC and we were very happy to participate in this great day. We look forward to participating again in the future.

Axis Insurance Services LLC is a nationally recognized professional liability broker located in Franklin Lakes New Jersey, specializing in errors and omissions insurance

Private companies need D&O insurance as much as public companies. Many people come to us and ask why a private company would need D&O. It’s really simple. Directors and Officers can be held personally responsible for their decisions in developing and monitoring appropriate corporate behavior. Although, typically the Board of Directors is not responsible for implementing procedures, they are held responsible for oversight of the development and implementation of appropriate policies and procedures. I have listed below several examples of why private companies need D&O.

1. Unfair Receipt of Confidential Information

Companies allege that they have invested great sums of money in developing client lists, product information, markets and other market knowledge that is proprietary to them. Companies can allege this regardless of a contact with employees or a non-compete agreement. This type of suit is frequently the result of hiring a new employee, consultant or sales person. When this new employee starts, they cannot forget the knowledge they have of the industry or products. In many cases a new employee will come with client lists or market knowledge they developed as a result of working for another company. That previous company can allege unfair business practices and stolen confidential information. They often sue the new company in attempt to prevent the use of this information. Defense costs alone for such a suit can be significant.

2. Unfair Business Practices relating to an Acquisition Price

In an acquisition, typically one company is offering consideration for another. In the current market because of bankruptcies and business failures, often consideration is determined at a fire sale price or a price below what would be a standard market value. Even though market value should be determined by the price that a buyer is willing to pay, many times that is overlooked in a lawsuit. One common claim we see is that the shareholders and creditors of the company being acquired will allege they got the bad end of the deal. The further allege unfair business practices because the acquiring company obtained the assets for an amount less than fair value. In a bankruptcy proceeding where some creditors are not going to be paid, they allege that the acquiring company is part of the conspiracy to defraud creditors. This type of claim is taking more hold in the court systems. These types of suits can come from creditors and investor both of the acquiring company and the acquired company.

3. Conflicts of Interest

The Board of Directors is responsible for oversight of the company and its operations. In many cases corporations do business with related parties. These related parties can be related to owners, employees or board members. In most cases these transactions are arm’s length and completely appropriate. In other cases, there are contracts with related parties that are not fair value and are not in the best interest of the corporation. They may be in the best interest of certain parties or owners, but the Board still has a responsibility to do what is in the best interest of the corporation, not necessarily certain owners of the corporation. These suits significantly come into play in a sale, or bankruptcy situation.

4. Invested Asset Management

D&O’s can be held personally responsible for the investment decisions of the company. Often investment decisions are thought to be the purchase of stocks, bonds, etc. But investment decisions go well beyond that type of investment. When a company acquires a new operating division on the west coast, that is an investment decision. When a company decides to borrow money, form a new division, buy a building or in some other manner commit the assets of the company they are making an investment decision. It has to be said that not all investments pay off. What happens if the new west coast division fails and results in a loss to the company? Directors and Officers can be held liability for the loss of value of the corporation.

5. Minority Shareholder Suits

Often minority shareholders have little say in the day to day management of the company. As such majority shareholders are making decisions on hiring/firing, contracting, investing and general direction of the company. In many cases minority shareholders contribute actual capital to majority shareholders who have contributed sweat equity. Many startup companies fail, leaving investors with little or no return on their investment. Suits arise against the shareholders and board for false and deceptive solicitation of shareholder investments. These types of suits can be expensive and drain whatever capital is still left in the corporation.
The above lists on a small portion of types of suits against Directors and Officers in a private company and why private companies should purchase D&O insurance . Please feel free to contact us with any of your questions or concerns and we will be happy to have a licensed representative speak with you about your needs.

Mike W Smith. Principal
Axis Insurance Services LLC
201-847-9175
msmith@axisins.com

1. Document all verbal conversations with clients. Make sure to record both the time and date.

2. Send a follow up email to your client confirming the conversation. This will spark their memory if it is incorrect and help protect you in the event of a discrepancy.

3. Keep electronic copies of emails and other correspondence. Many companies have exchange servers or other means of backups. For other companies you can simply back up your Outlook on a regular basis.

4. Develop a standard procedure on dealing with clients. Often clients are sued for deviating from a standard of care or normal operating practice. Sometimes it isn’t as important what the procedures are but that the company follows them consistently.

5. Protect client data with encryption software. Anyone can steal your data. Additionally, employees can both intentionally and unintentionally disclose confidential client information that can result in a suit or a regulatory fine /investigation.

6. Review your E&O Insurance coverage. Insurance carriers change coverage frequently. Additionally companies can change the scope of their services without ever readdressing their insurance coverage. You should have a thorough review of all your insurance coverages at least every three years.

Insurance Agent defined:
Insurance agents are insurance professionals that serve as an intermediary between the insurance company and the Insured. As a broad statement of law, an agent’s liability to their customer is administrative. That is agents are only responsible for the timely and accurate processing of forms, premiums and paperwork. Agents have no duty to conduct a thorough examination of your business or to make sure you have appropriate coverage. Insurance agents can be either a Captive Agent, or Independent Agent. An agent by definition is working for an insurance company and operates within their guidelines.

Captive Agents: An agent who works for only one company and is a “captive” of that company. A captive agent will sell policies for that insurer.

Independent Agent: An independent agent is one who works as an agent for a variety of different insurers. An independent can produce policies for several different insurers and offer some comparisons of different insurance policies.

Insurance Brokers defined:
Insurance brokers can be best described as a kind of super-independent agent. Brokers can offer a whole host of insurance products for Insured’s to consider. Brokers are required to have a broker’s license which typically means that the broker will have more education or experience than that of an agent. Brokers also have a higher duty, in most states to their clients. Brokers have the duty to analyze a business and secure correct and adequate coverage for the business. This is a higher duty of that the pure administrative duty of the agent. Insurance Brokers can either be a Retail or Wholesale broker.

Retail Insurance Broker: A Retail Insurance Broker Is an individual or company that places insurance on behalf of clients. A broker is not an agent of an insurance company, rather a professional working on behalf of an insured. In a broker capacity, the broker owes a fiduciary responsibility to the insured, not the insurance company.

Wholesale Insurance Broker: A broker/agent who acts as an intermediary between a retail agent and an insurer, while having no contact with the insured. There are two types of wholesale brokers: managing general agents and surplus lines brokers. The latter work with the retail agent and the insurer to obtain coverage for the insured; but unlike a managing general agent, a surplus lines broker does not have binding authority from the insurer. Typically, a wholesale broker possesses knowledge and expertise relative to a specific line of business, beyond that of a retail broker.
Source: www.insurancepedia.com and www.businessinsure.about.com

Dual Agency The above definitions seem clear, however, the reality of the day to day functions of an insurance agent are blurred. An insurance agent or broker many times performs duties both on behalf of the insured and the behalf of the client. Examples are as follows:
• Placement of insurance
• Collection of premiums
• Preparation of Certificates of Insurance
• Processing of claims
• Analyzing coverage

When is the producer working on behalf of the company and the when is the producer working on behalf of the insured. The answer is it depends. The producer owes a fiduciary responsibility to those parties they represent. Although, the responsibilities of a producer as outlined in their contracts vary, we have found is that often the producer holds themselves out to a higher standard than the law requires sometimes by doing additional services or holding oneself out to be an expert.

A properly designed cyber and privacy policy is an essential part of operations in todays connected work place. Contact one of our cyber specialists today for a free assessment.