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Category Archives: Errors and Omissions Insurance

3 Things to Consider When Purchasing E&O Insurance


3 Things to Consider When Purchasing E&O Insurance
Errors and omissions (E&O) insurance is the essential policy that covers a business or individual consultant in the event that a client accuses them of being responsible for a wrongdoing in a service they provided, or failed to provide. E&O insurance may be called by different names; for example, in the medical field it is often referred to as malpractice insurance and for some types of professionals in may be …

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D&O and E&O Insurance: What’s the Difference?

D&O and E&O Insurance: What’s the Difference?

On the surface, it can be tough to tell the difference between directors & officers (D&O) and errors & omissions (E&O) insurance. Both policies, at their core, are designed to safeguard a business against losses from claims of negligent or malicious acts. However, this does not mean that the two policies are interchangeable. That is a common misconception, but the two policies each have distinct areas that they cover, and

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Reducing Insurance Agency E&O Exposures

Insurance agents and producers better than anyone else know that as professionals you are exposed to allegations and claims that an error or omission caused financial damage to an insured. Even with best practices in place, mistakes can happen considering the massive volume of transactions that occur in a typical agency over the course of a year.

The most frequent E&O liability claims for insurance agents include failure to place …

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Why Design-Build Contractors Need Professional Liability Insurance

Why Design-Build Contractors Need Professional Liability InsuranceProfessional Liability Exposures Not Covered under General Liability

In recent years, we have seen increasingly more general contractors responsible for design-build tasks on projects, whether they undertake this work in-house or subcontract it out, leaving them exposed to potential professional liability claims. Add to this changes in standard construction contracts on how design responsibilities and risk are allocated, and you find contractors unaware that they may be exposed to errors …

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Real Estate Insurance E&O: Don’t Sell A Home Without It

 Real Estate Insurance E&O Don’t Sell A Home Without ItE&O Insurance Covers Legal Bills and Judgments

A few months ago, we were interviewed for an article that appeared in the Wall Street Journal on why real estate agents should consider purchasing Errors & Omissions Insurance. The WSJ piece discussed a case in which a couple sued a pair of agents because they were allegedly never told about a murder-suicide that took place in the home a year prior …

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Going Cyber-Bare Exposes Insurance Agents to E&O Claims

 Going Cyber-Bare Exposes Insurance Agents to E&O ClaimsAre You Talking About Cyber Liability Coverage to Your Clients?

Recent studies from various sources cite that there are a few common reasons why companies don’t purchase Cyber Liability insurance – even in light of all the media attention that data breaches and cyber security garner. Lack of education ranks high on the list for not securing coverage with many firms thinking they’re just not vulnerable to attacks. They either …

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Inside Look at Management Consultant E&O Insurance

Inside Look at Management Consultant E&O InsuranceProtect Your Firm with Management Consultant Errors & Omissions Insurance Coverage

As a management consultant firm, people rely on your area of expertise to deliver results. You go through an entire process to determine your prospective client’s needs and expectations and how you can address these needs. In many cases, there is an RFP that allows you to respond with a creative solution to a business problem or issue. In …

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Inside E&O Coverage When Buying or Selling An Insurance Agency

Inside-EO-Coverage-When-Buying-or-Selling-An-Insurance-Agency-300x188Reviewing Errors & Omissions Insurance Critical During M&A Process

In the last several years, we have seen a significant amount of activity in insurance agency mergers and acquisitions (M&As). In fact, 2012 was a banner year for M&As with about 325 deals made with the majority of buyers independent agents. Deals were made across the country, particularly in heavily populated regions, such as California, Florida, New York, Texas, Illinois, New …

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Inside an E&O Insurance Policy

Inside an E&O Insurance PolicyAdditional Features Available in Errors and Omissions Insurance

Errors and Omissions (E&O) insurance, or Professional Liability as it’s also known, is required for professionals to protect themselves against claims that involve allegations that the work performed or services provided caused a client to suffer a financial loss. This coverage is needed as a General Liability policy does not provide for such claims.

Professionals who typically require E&O insurance include accountants

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Lawyers E&O Insurance: Evaluate Exposures When Offering Unbundling Legal Services

Lawyers E&O Insurance Evaluate Exposures When Offering Unbundling Legal ServicesRisk Management & Best Practices Key for Unbundling Services

Unbundling legal services is a way for attorneys to limit the scope of the services they provide to clients who are looking for this type of representation. Think of it as offering one’s services a la carte. In unbundling, the client’s legal matter is broken down into separate tasks, with an attorney providing representation to the client that is only related …

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Error Omissions
Error Omissions
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