Error Omissions
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Category Archives: Errors & Omissions

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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Mitigating Accounting E&O Risks with High-Profile, High Net Worth Clients

Incorporate Risk Management Measures to Stem E&O ClaimsIncorporate Risk Management Measures to Stem E&O Claims

In our previous article, we discussed two emerging risks for accountants, including the increased exposures that come with dealing with high-profile, high-wealth clients. Here, we’re providing you with several risk management steps to help mitigate the potential for E&O/professional liability exposures.

  • Assess whether you want an individual as a client. Consider the reputation and integrity of the client to be
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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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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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Why Architects and Engineers Need Errors and Omissions Insurance

Why Architects and Engineers Need Errors and Omissions Insurance E&O Insurance Responds to Claims of Negligence, Mistakes

Architects and engineers, as with any other type of professional, are relied upon for their expertise, years of experience and ability to get a project done. A homeowner looking to undergo major renovation, including moving walls to accommodate a bigger kitchen or dining area, requires the expertise of an engineer to determine if this is feasible and will not damage the structure …

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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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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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Errors & Omissions Insurance Infographic

 Errors & Omissions Insurance Infographic

Errors and Omissions Insurance covers a wide array of professional industries.  Errors and Omissions insurance is professional liability coverage for claims relating to either providing a professional service or failing to provide a professional service.

From Lawyers to Insurance Brokers, an Errors & Omissions policy is designed to help protect you or your company from bearing the full cost of defense and damages for lawsuits …

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The Risk of Criminal Liability for Architects Arising from Property Disasters

The Risk of Criminal Liability for Architects Arising from Property DisastersArchitects Facing Criminal Charges for Work Errors, Negligence Is Rare

A recent article in an insurance publication discussed how the fact that criminal charges made against architects in the wake of building disasters is indeed a rare occurrence. We decided to take a look into a couple of examples when architects faced criminal liability as result of their work and the outcome of the charges made against them.

The article …

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Verbal Cues Can Help with Client, Employee Intent

Verbal Cues Can Help with Client, Employee Intent

Paying Attention to Language Can Assist in Mitigating E&O Claims, Employment-Related Issues

In our blog, we often discuss the importance of professionals implementing sound Best Practices in their operations in order to help mitigate errors and omissions exposures and stem losses that arise from professional services rendered. Whether you’re an architect, engineer, attorney, real estate agent, insurance agent, consultant or other professional, you and your firm have to ensure that …

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Error Omissions
Error Omissions
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Error Omissions
Error Omissions