Understanding Compliance Mandated Insurance
(Free to NARCA Members, CLE will not be available)
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The current climate of the consumer collections industry is especially aggravating for law firms who are forced to navigate through new regulations, often from conflicting creditors. It’s no surprise that while firms have since become somewhat immune to the routine audit, new mandates shift focus from revenue producing work and instead, on reactive responses. A primary form of frustration involves directives related to “compliance mandated insurance”. To be more specific, insurance policies which include Professional Liability, Cyber, and Crime coverages. The focus of this presentation will involve a current market update on the required lines of insurance and how changing directives impact a firm’s need to adjust coverage. Moreover, we will help determine the legitimacy of such directives and explain why one size does not always fit all. Lastly, we will provide our tips on how firms can best mitigate risk, thus limiting their exposure.
Vernon Barclay Shea Barclay Group
Vern Barclay is a founder/partner in the Shea Barclay Group and focuses on the large law firms or those with challenging practice areas such as class action, mass tort firms and foreclosure firms. Prior to founding Shea Barclay Group in 1994, he had a 17 year period with law firms as an administrator, and ultimately Director of Operations for one of the 10 largest firms in the United States. (Holland & Knight) Vern has published articles in the Massachusetts Bar, the Florida Bar, and the Association of Legal Administrators on law firm management, professional liability and still consults with law firms on a variety of issues. Additionally, he has lectured through the Institute of Continuing Legal Education at the University of Michigan. He is a member of the Professional Liability Underwriting Society, Insurance Risk Management Institute and the ABA Standing Committee on Professional Liability insurance. Additionally, he has functioned at all levels within law firms from staff to senior management and provided services to law firms during the past 35 years. This unique combination of actual law firm & insurance experience enable Shea Barclay to offer services not usually found in independent brokers.
Jack Compton Shea Barclay Group
Jack has been an Advisor at Shea Barclay Group since 2011. He focuses his practice on law firms and their holistic insurance needs, having assisted hundreds of law firms throughout the country. Jack works closely with senior management at SBG in evaluating and discussing appropriate coverage, structure and terms for our clients. He also works intimately with our underwriting relationships, both domestic and international. Jack is a frequent presenter on a variety of insurance and risk management topics as they relate to law firms.
Harrison Tropp, Shea Barclay Group
Harrison is an advisor with Shea Barclay Group, joining the organization after several years with a creditor’s rights consulting firm. In his current capacity, Harrison primarily represents law firms who have default services and collections as primary practice areas. Through his experience, he remains privy to new servicer and creditor directives as a means to formulate creative solutions for Shea Barclay clients. Harrison’s primary focus of insurance lines include Professional Liability, Cyber, Crime, and Employment Practices Liability coverages.
Continuing Legal Education (CLE) will not be available for this webinar.
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