American Council of Engineering Companies of New York (ACEC New York) is set to have their annual Winter Conference at the Albany, NY Marriott from January 29 through January 31.

Posted on January 10, 2012 by WH Connolly & Co.

Petty Burton Associates/William H. Connolly & Co., LLC is an active member of the ACEC New York and we are again one of the sponsors for this year’s Winter Conference at the Albany Marriott on January 29-31. We will be greeting visitors at our exhibit booth so if you are planning to attend this year’s conference, please come by to say hello and take a chance at winning a wonderful Laguiole corkscrew which we will raffle off on Sunday and Monday.

ACEC web is www.acecny.org.

The American Council of Engineering Companies of New York (ACEC New York) is the voice of New York State’s engineering companies. Whether for sole proprietors or global companies, for young principals or industry leaders, ACEC New York has, since its formation in 1921, been true to its mission: To be the leading advocate in New York State for consulting engineers and to enhance the image and business practices of professional engineering companies.

Boasting a membership of 280 firms, including 60 affiliate firms throughout the state, ACEC New York is a highly focused group that lobbies, advocates, educates, networks, provides scholarships for engineering students, and awards and recognizes outstanding engineering efforts of its member firms.

As 2011 comes to a close, Electronic Medical Records gain momentum into 2012.

Posted on December 22, 2011 by WH Connolly & Co.

The push for shared patient information designed to improve care and reduce medical errors along with Federal subsidies and potential penalties is fueling increased adoption of EMR. See this informative article from Beth Fitzgerald of NJSpotlight Dec. 16, 2011. www.njspotlight.com/stories/11/1216/0253/

Equipment Maintenance Program – An Alternative to High Priced Service Contracts

Posted on November 29, 2011 by WH Connolly & Co.

Organizations are facing increased costs and declining revenue as a result of the current economic environment. For organizations that maintain full service contracts with original equipment manufacturers, there are significant opportunities to consolidate contracts, improve cash flow, and reduce costs. By consolidating equipment service and repair under one program, we put companies in control of their costs, program administration, and delivery of services. Our approach blends a self-managed deductible with a stop loss contract that guarantees a minimum annual savings, and a maximum cap on annual expenditures. Any portion of the deductible that is not spent equates to additional savings.

Program Highlights:

Comprehensive equipment service and repair program that puts you in charge of your equipment maintenance spending.

Self Insured Retention or First Dollar Programs will generate 15%-30% savings over full service contracts.

Retain your current vendors, and/or be reimbursed for in house staff providing maintenance and repairs.

Online access to all service and repair information in real time.

Equipment procurement and engineering support is included.

Appropriate Industries:

Healthcare and Hospitals, Higher Education, Municipalities and Schools, Real Estate Portfolios, Banking and Financial Institutions and Manufacturing to name a few.

Contact:

Bryan Marks or Peter Koppisch at 973-744-8500

Announcing the New W. H. Connolly New Jersey Insurance Website

Posted on October 27, 2011 by WH Connolly & Co.

William H. Connolly & Co., LLC serves the insurance needs of a large and diverse group of businesses, not-for-profit institutions, professional services and individuals. Our investment in information technology has extended our reach to serve clients not only in the metropolitan area but around the world. Our technological services staff keeps us on the cutting edge of our industry, enabling us to serve our local and international clients most efficiently.

Aggressive and innovative in our pursuit of the solutions to insurance and risk management problems, William H. Connolly & Co., LLC is widely recognized for our expertise in complex Employment Practices Liability, Directors and Officers Liability, and Workers Compensation issues. Because we are among the largest producers placing business with both national insurance companies and strong, regional carriers, we negotiate from a position of strength for our clients.

Though we are located in New Jersey, we specialize in insurance services throughout the New York, New Jersey, and Pennsylvania area. We now march into 2012 with a new look and feel, carrying the strengths of the old site into a new layout. Visit our new site and you will find a reorganization to emphasize our current New Jersey business insurance and personal insurance solutions, including:

New Jersey Commercial Insurance
New Jersey Hospital Insurance
New Jersey Biotech Insurance
New Jersey Nonprofit Insurance
New Jersey University Insurance
New Jersey Architect Insurance
New Jersey Construction Insurance
New Jersey Employee Benefits
and much more…

New Jersey Biotech Insurance & Pharmaceutical Insurance

Posted on October 20, 2011 by WH Connolly & Co.

Biotech organizations have unique and complicated insurance and risk management needs. Whether you are a developing company in start-up mode or you have a product on the market, an experienced hand is necessary in successfully optimizing coverage for New Jersey biotech insurance, New York biotech insurance, or Pennsylvania biotech insurance. Obtaining risk transfer solutions is important whether you are a CRO, a device or component manufacturer, an inventor, or a member of the Pharmaceutical industry. This can prove challenging without extensive knowledge of the business and its associated risks.

We pride ourselves on our abilities to develop an insurance and risk management program that will service you well today with a structure that will transition you through your next round of capital, your launch, your IPO, and beyond. We understand what you do, we know what drives your industry, and we know what protections you need so you can focus on your goals.

New Jersey Liability Insurance: Cyber Liability

Posted on October 13, 2011 by WH Connolly & Co.

As of September 2009, HIPAA (Health Insurance Portability and Accountability Act), and the subsequent HITECH Act (Health Information Technology for Economic and Clinical Health), new privacy and security requirements exist for protecting PII (Personal Identifiable Information). A new theory of liability was created, due to these federal requirements for all employers, Cyber Liability.

William H. Connolly & Co., LLC has been involved from the start with insurers in identifying and building Cyber Liability programs designed to meet the liability exposures created by this theory of liability. In addition to Third Party Liability coverage, the typical Cyber Liability policy will cover the costs associated with a data breach. These data breaches can occur in a variety of ways. Data can be stolen by skillful hackers, siphoned off by malicious employees, or simply mislaid by a careless employee. Once a breach occurs an unprepared organization can find itself in a fire storm of controversy and bad publicity. Reputation damage and the financial implications for such exposures to loss can be devastating.

The coverages included in the typical policy include:

Network Security Liability
Privacy Liability
Media Liability
Regulatory Liability
Notification Expense and Credit Monitoring
Crisis Management/Public Relations
Network Business Interruption
Cyber Extortion

It’s crucial to leverage regional expertise in the the acquisition of these types of coverage. W. H. Connolly specializes in New York liability insurance, New Jersey liability insurance, and Pennsylvania liability insurance. Allow us the opportunity to determine the best program design to protect your assets and properly meet your financial needs.

New Jersey Nonprofit Insurance for Social Services, Churches, and more…

Posted on October 7, 2011 by WH Connolly & Co.

Social services, not for profit and religious organizations present unique challenges when they are looking for Risk Management and Insurance programs. Churches and religious organizations, for example, often have significant property exposure including aging buildings, as well as high value artifacts. Our Property Team has a proven expertise in assessing the exposures, addressing concerns to prevent loss, and overseeing the claim adjustment process when there is a loss.

Claims related to liability exposures – New Jersey professional liability, directors’ & officers’ liability, and New Jersey employment practices liability – can have a serious impact on day-to-day operations of religious and social service agencies. Premise conditions and abuse allegations are among the most obvious liability exposures for some religious organizations. But transportation of clients and employee use of personal vehicles are also significant and common exposures. The supervision of volunteer positions, the protection of limited funds and allegations of discrimination are risks associated with employment practices liability or directors’ and officers’ liability coverage.

Our well-known expertise in these areas helps to protect organizations through New York, New Jersey, and Pennsylvania and those responsible for their operation. William H. Connolly & Co., LLC has extensive experience creating individualized Insurance and Risk Management programs for many religious and social service agencies. We are, of course, very attentive to the financial needs of not for profits but never sacrifice the quality of coverages we recommend.

Medical Protective to Acquire Princeton Insurance

Posted on October 3, 2011 by WH Connolly & Co.

Medical Protective, the nation’s strongest and longest-standing insurer of Medical Professional Liability for healthcare providers, has agreed to acquire Princeton Insurance, a premier Medical Professional Liability insurer based in Princeton, New Jersey. The acquisition is subject to customary closing conditions and regulatory approvals. Princeton Insurance will be wholly owned subsidiaries of Medical Protective.

With approximately $700 million in annual premium, Medical Protective is a national leader in primary medical professional Liability coverage and risk solutions for healthcare providers, including physicians, dentists, chiropractors, optometrists, podiatrists, allied health professionals, and health care facilities. As the nation’s first provider of Medical Professional Liability insurance, Medical Protective has been protecting the assets and reputations of healthcare providers since 1899. Medical Protective is currently rated A++ (superior) by A.M. Best.

With the industry-leading financial strength of Berkshire Hathaway’s Med Pro supporting Princeton upon the closing of the transaction, Princeton currently not rated by leading insurance rater A.M. Best – is expected to apply for financial strength ratings and be positioned to offer additional products and services to healthcare providers throughout the region.

From a policyholder perspective this transaction will provide the best of both worlds; outstanding service which has been the hallmark of Princeton Insurance for over 35 years, and superior financial strength for which Medical Protective is best known.

As Princeton Insurance Company’s largest agent, William H. Connolly & Co. is excited about this transaction and recognizes the benefit that will be created for all current and future policyholders. Financial strength is an extremely important aspect of the insured/insurer partnership. We pride ourselves in creating and maintaining relationships with carriers such as Princeton, Medical Protective, Chubb, and New Jersey Manufacturers who are best known as leaders in the insurance community for maintaining high standards of service coupled with a strong financial presence.

Effective Insurance Strategies for New Jersey Architects & Engineers

Posted on October 3, 2011 by WH Connolly & Co.

New Jersey architectural insurance, New Jersey engineering insurance, and related coverages are complex but crucial to protect firms in the event of an accident. With the acquisition of Petty Burton Associates, an award-winning broker with more than 25 years of service to the design professional community, William H. Connolly & Co., LLC became one of the country’s leading specialist insurance brokers representing architects, engineers and related construction consultants. Providing comprehensive and cost-effective solutions for this industry is a challenging and rewarding process, requiring knowledge and experience, and providing services like:

Prepare applications to positively influence underwriters and capitalize on premium credits and coverage advantages.
Examine coverage forms and policies to personalize and coordinate based on individual client needs.
Negotiate favorable terms with underwriters through comprehensive discussions and favored relationships with underwriters.
Issue certificates of insurance accurately and promptly.
Provide knowledgeable risk management advice and current, extensive information on practice and insurance issues.
Review owner/client contracts for insurability and risk management suggestions.
Facilitate claim reporting, monitor status of claims and identify trends and patterns.
Provide in-house risk management seminars.

New Jersey EPLI

Posted on September 26, 2011 by WH Connolly & Co.

Discrimination, wrongful termination and sexual harassment are prominent among litigated employment practices. Employers are being held to higher standards under numerous employment laws such as the Civil Rights Act of 1991, the Americans with Disabilities Act or the New Jersey Law Against Discrimination. The interpretation of Employment Law by state and federal courts has expanded both the frequency and severity of employment claims.

Insurance is available to defray the cost incurred in defending Employment Practices claims by business owners and institutions and to pay for damages resulting from those claims. The cost of defending cases, the size of settlements and the unpredictability of having a case go to a jury trial all contribute to the increasing need for EPLI (Employment Practices Liability insurance).

New Jersey EPLI, New York EPLI, and Pennsylvania EPLI policies may differ significantly from company to company and state to state. Different companies offer different coverages and deductibles can vary. Although EPLI typically provides coverage for claims brought by employees against other employees or management, third party coverage is also available for claims brought by customers, vendors or outsiders… those other than employees. Coverage is available for all “prior acts” instead of insurance restricted to occurrences that take place after a designated date (retroactive date).

Some policies offer the ability to choose your own attorney or to have input in the selection of counsel when defending an Employment Practices Liability insurance claim. As more insurers enter the Employment Practices Liability insurance marketplace, various value-added services are being offered, including audits of employment practices including review of handbook, supervisor training, dispute resolution, toll free consultation services, sample documents such as handbooks, and training and information, such as newsletters and web sites, to help employers study current Employment Practices Liability insurance issues.

Employment practices issues vary greatly and can include:

Discrimination
Employment-At-Will
Quid Pro Quo
Hostile Work Environment
Sexual Harassment
Wrongful Termination
Grievance Procedures
Employee Handbook

New Jersey Insurance Blog