Professional Services is a competitive, complex market, one with high stakes for the firm and its clients. As advocates for professional services firms, we do not sit on the sidelines, we get in the game. We have strong opinions and valuable information to share, and believe part of our client responsibility is education. Below are articles and forums relating to professional services and liability insurance we think are worthwhile reading.
Delays in Reporting Claims and Circumstances Can Cost Coverage
Chicago | March 28 | 2007
Jay Moroney, Executive Vice President at Lemme Insurance Group, writes about a recent court case in New York that serves as a reminder of the importance of the timely reporting of claims and circumstances to your insurance company...
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Lemme Insurance Group, Inc. Negotiates War & Terrorism Life/AD&D coverage for Major US based Consulting Firm
Chicago | March 3 | 2005
Lemme Insurance Group, Inc. (“Lemme”) announced today the successful negotiation of a Life and Person Accident insurance policy covering employees of a major US consulting firm for acts of War & Terrorism while outside of the United States...
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and pays benefit amounts similar to traditional Life and Accidental Death and Dismemberment (AD&D) polices purchased by US companies.
As a result of Lemme Insurance Group, Inc.’s relationship placing the Firm’s professional liability insurance, the consulting firm approached Lemme after having gone months trying to secure the coverage through their existing Life/Health broker. “Although our client’s current Life/Health broker is one of the largest in the world, they did not have the desire or creativity to meet their client’s needs. We stepped in and negotiated the cover in a matter of weeks – that’s what makes this so rewarding” commented John Hecht, Executive Vice President at Lemme.
“Many companies do not realize that their existing group life and AD&D policies may exclude acts of War or Terrorism, which is becoming increasingly important as many US companies continue to send employees throughout the world on assignment,” said Hecht. “Even in places like Iraq, where a significant portion of the US government’s $18.4 billion reconstruction fund is being spent on private contractors in the rebuilding effort, companies do not understand that the Defense Base Act (DBA) coverage does not provide survivor benefits as in group Life and AD&D policies. Employees most likely are unaware that survivor benefits from losses due to acts of War or Terrorism may not be covered under their DBA policy nor the company’s group Life and AD&D policies.”
Mario Lemme, President of Lemme Insurance Group, Inc. said “The greatest part of this story is our deep knowledge of our client’s businesses allowed us to present a valuable solution for them. By securing this coverage, our clients are able to provide the coverage their employees thought they had, and at the same time create a competitive advantage in the market for consultants willing to travel overseas.”
Lemme Insurance Group, Inc. is a boutique insurance broker specializing in professional liability insurance and allied products for large professional firms. To learn more about the company or the products listed in this press release, please visit the Lemme website (www.lemme.com) or contact John Hecht, Executive Vice President at (800) 943-8068 / email
jhecht@lemme.com.
Chicago | March 2 | 2005
Tom Smith, CPCU, joined Lemme as Vice President in February, 2005 bringing experience from more than 30 years in underwriting, most recently with Shand Morahan (Markel Corp.) and Hartford Financial Products...
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“We’re excited to have someone of Tom’s caliber and experience join our team,” said Mario Lemme, President. “Tom’s background will help us continue to deliver value and top-tier service to our clients.”
Tom has a broad background in all areas of Professional Liability and Directors & Officers Liability, particularly with financial institutions. Additionally, Tom has been instrumental in creating and presenting client specific loss prevention seminars to insurance companies, developing and implementing bad faith awareness audit procedures, and developing new Management Liability products for private companies.
At Lemme, Tom brings additional expertise in packaging and promoting customized insurance solutions for the benefit of our clients. Tom is also instrumental in the deployment of our Quality First initiative.
Lemme Insurance Group Recognized as ‘Five Star Service Provider’ for Accountant’s Professional Liability Coverage
Chicago | February 28 | 2005
Sam Rudman, Executive Vice President, and David Koenen, Vice President, of Lemme Insurance Group, Inc. (“Lemme”) were recognized this month for exemplary client service by GMN Enterprise...
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, a network of highly successful local and regional accounting firms from around the world.
“The contrast in the level of service and advice we received from Lemme versus our previous broker was immeasurable,” said Corinne Henderson, Partner at Chattanooga, TN-based Wilkins, Crews & Henderson and a member of GMN Enterprise. Corinne nominated Sam and David after Lemme was able to provide and secure a competitive option in the midst of a challenging renewal for her firm. After her firm’s existing insurer issued a notice of non-renewal, and her local broker could not find suitable alternatives, Corinne called on Lemme for help.
“David submitted our application and obtained coverage from Fireman's Fund that was superior to what we had been previously offered,” continued Corinne. “Even with the new policy's more extensive coverage, the premium was less expensive for this coverage than the other options we had.“
David Koenen, as Lemme’s Director of the Fireman’s Fund Accountant’s Professional Liability Program, is honored by the recognition. “We have a great partnership with Fireman’s Fund. Their financial strength and customer service are tops in the industry, and the policy form is exceptional. We’re glad we could serve Wilkins, Crews & Henderson at a daunting time.”
To learn more about the Fireman’s Fund Accountant’s Professional Liability Program, please contact David Koenen at (800) 943-8068 / email
dkoenen@lemme.com.
Sam Rudman, Executive Vice President at Lemme highlights important strategies and tactics for Managing Partners and Firm Administrators at renewal time...
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