Professional Liability Coverage

The primary reason for professional liability coverage is that a typical general liability insurance policy will only respond to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employerspublic and product liability. But various professional services and products can give rise to legal claims without causing any of the specific types of harm covered by such policies. Common claims that professional liability insurance covers are negligencemisrepresentation, violation of good faith and fair dealing, and inaccurate advice. Examples:

  • If a software product fails to perform properly, it may not cause physical, personal, or advertising damages, therefore the general liability policy would not be triggered; it may, however, directly cause financial losses which could potentially be attributed to the software developer’s misrepresentation of the product capabilities.
  • If a custom-designed product fails without causing damage to person or property other than to the subject product itself, a product liability policy may cover consequential damages such as losses from business interruption, but will generally not cover the cost to redesign, repair or replace the failed product itself. Claims for these losses against the manufacturer may be covered by a professional liability policy.

Here is a list of a few occupations that we can write.

• Accountants • Architects and Engineers • Benefit Plan Administrators • Broadcasters

• Business Consultants • Claims Administrators • Computer Consultants

• Construction Managers/Builders/ Real Estate Developers • Credit Counselors

• Design Professionals • Employed Lawyers • Environmental Consultants • Financial Institutions

• Franchisers • Graphic Designers • Insurance Agents/Brokers • Internet Companies

• Investment Advisors/Consultants • IT Consultants • Lawyer’s Professional • Managed Care

• Med Mal • Media Liability • Misc. Professional Liability – All Industry Groups & Professions

• Mortgage Bankers & Brokers • Physicians Non-Standard Medical Malpractice • Printers

• Professional Firms • Public Officials • Public Relations Firms • Publishers

• Real Estate Agents/Brokers • Risk Management Consultants • Securities Brokers/Dealers

• Tax Preparers • Technology • Third Party Administrators • Title Insurance Companies/Agents



Posted in Accountants, Architects and Engineers,Benefit Plan Administrators, Broadcasters, Business Consultants, Claims Administrators, Computer Consultants, Construction Managers/Builders/ Real Estate Develope, Insurance & Financial Planning | Leave a comment

Contact us for a flood insurance quote. Even if your not in a flood zone you may still experience flooding. Winter flooding is typically caused by melting snow and ice. The risk of loss is possible all year round.#floodinsurance #winterflooding #nyfloodinsurance #flood

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Fusco Insurance Offers Group Health Insurance

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Avoid These Bad Driving Habits

Driving a vehicle comes with a lot of responsibility, and unfortunately – thousands of people are killed each year from a distracted driving incident. Be sure to practice safe driving by dropping these bad and dangerous habits!

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Merry Christmas from our family to all our friends and followers!

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How To Make Your Finances in 2018 Better Than 2017

We ask the question how do you make your finances in 2018 better than 2017?

Review your finances which includes your insurance policies.

1) Cut the unnecessary items in your budget that are providing the smallest return for the cost.

2) Compare your insurance policies to ensure your properly covered and paying the best available premium.

Address the needs and wants now that you have identified areas of potential savings and potential reallocation to better suited expenses.

You can now use the savings to purchase additional protection you have been putting off:

1) if you don’t already have one then a personal umbrella policy to reduce exposure to potential loss of your property and wages due to law suits.

2) Disability Insurance to protect the primary wage earners income in the event of an injury or illness.

3) Life Insurance to provide income and funding to maintain your lifestyle and. Enough to fund your children’s education, afford help if you need childcare so you can gain employment, maintain your current home.Life Insurance also has riders for living benefits such as long term care, terminal illness and emergency funds for those illnesses. Ask about a disability waiver as well to pay the premiums if you become disabled.

4} iSavings could be used to fund your IRA or increase you current contributions to your existing plan.

Rollover your IRA or retirement plan from your old employer. This will most likely give you more direction and control of your plan funds and a better return on your savings.

5) if your getting ready to retire rolling over your current plan may make a lot of sense. Gain flexibility on withdrawals as to how much and how often you withdraw instead of being dictated to. Most company plans require you to continue receiving your income stream until the plan has depleted. A rollover could provide more income and choice of when and how much and how long you want to receive your payments over your lifetime. Be sure to consider adding,a lifetime income benefit rider. This pays you even if you outlive your funds value for a small fee.

6) Always a great option is applying a little extra to paying down credit card debt or your mortgage would also be beneficial financially as well.

These are just a few thoughts I wanted to put down. I know they are not earth shattering or groundbreaking but getting your finances and insurance coverages in order are a precursor to living a stress free life. With the new year coming it’s a perfect time to sit down and revisit these concerns.

Hope you have a happy, healthy and prosperous 2018!






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3 Early Advantage’s of Life Insurance

The life insurance industry is changing for the better. You no longer only receive a benefit if you die. Today’s policy include living benefits to help you with cash value growth & funds toward health care related expenses. Additional benefits can work for business owners as well. A full description of those benefits are covered in this post too.

Ability to access your cash value

Many life insurance policies offer potential cash-value growth that may be tax-deferred and can benefit from asset protection. With such a policy, the cash value is intended to be accessed tax-free, without impacting your tax bracket or creating tax exposure. It can be used for any financial needs that may arise for you or your family, such as a child’s college tuition or supplemental income in retirement.

Based on the type of life insurance policy you choose, you may also have a couple of options for taking out a loan on your policy. For example, with indexed universal life insurance,1 participating loans are structured so all of the money you borrow from your policy’s indexed account value continues to work for you. That means all of your policy value—borrowed and unborrowed—continues to have indexed growth potential, as if it were never taken out. Your earned interest crediting rate may offset or exceed the annual interest rate charged, but the crediting rate is not guaranteed.

Flexibility for late-in-life expenses

If you’ve witnessed a loved one experiencing a health issue late in life, you may already be familiar with the emotional toll it can take on a family—not to mention on a family’s finances. Longevity is on the rise and, without adequate protection, health-related expenses can result in drawing down retirement savings at rates two to three times faster than planned. Half of all individuals turning 65 today will need the coverage of an additional care plan during their lifetime.


A rider on your life insurance policy can help safeguard your retirement savings if you encounter unexpected medical expenses. Added benefits can help make it possible for you to live comfortably at home with the care you need, without financially compromising your beneficiaries. Additionally, you’ll have access to the cash value for other health-related expenses and won’t risk losing your policy. Note, some riders are included in a policy while others are available for an additional cost and are subject to availability and restrictions.

Additional business protection

If you’re a business owner, life insurance can play a role in preserving what you’ve worked so hard to achieve. It can help provide the capital needed to avoid selling a business if a partner retires, or to keep things going after the loss of a key employee. And, with proper planning, it can assist your loved ones in retaining control of your investment after your death by helping them to purchase your stock and receive proper compensation or equity. Life insurance policies can also provide tax advantages in a variety of business contexts, such as employee benefits or owner disability. Every business is uniquely complex, and your financial advisor can help leverage life insurance to help protect yours.

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