E&O

What If Your Email Account Was Hacked?

Do you have an action plan in place in the event one of your company’s email accounts is hacked? A recent incident with a Midwest-based title and settlement agent is prompting us to alert our clients to this issue. The particular company had several email addresses that handled a large...

What You Can Do To Fight Wire Fraud

Statistics recently gathered by Beazley Insurance indicate that in 2017 the average theft through fraudulent wiring instructions was $357,000. Some thefts were only a few thousand dollars; however, others were in the millions. Fraudulent wire instructions have become a significant threat to the well-being of title and closing agents. Even if your...

Title Industry Protectors: Your E&O Experts

I’d like to take this opportunity to introduce myself and the Merriam Agency to you. Our agency specializes in writing Errors & Omissions coverage for Title Agents. In fact, we have an entire department that focuses exclusively on your business. Over the past several years we have seen drastic changes...

Don’t get caught in a phishing scheme!

Phishing: the attempt to acquire personal and/or financial information by impersonating a trustworthy entity in an electronic communication. Businesses are falling for these schemes daily, turning over data and funds after receiving a malicious phone call or email instruction to do so. The perpetrators are easily able to lure victims in...

Are my Independent Contractors covered?

This is one of the most common questions I am asked when preparing quotes for E&O insurance. My answer is always the same: “we must look at the policy form to see how your carrier covers ICs.” More often than not, E&O insurance coverage is usually extended to the Independent...

Time Keeps Ticking

A closing took place in upstate NY in 1999. During the transaction it was noted that in addition to a mortgage, there was a home equity loan that had been taken out on the home being sold. At the closing it was shown that the home equity loan had been paid off, and a zero balance was due to this secondary lender. The sale was completed, a title policy was issued, and everyone went on their merry way. Unknown to everyone, except the seller