Tag Archives: errors and omissions
How Your Company’s Website Could Be an E&O Exposure
A company website is an important aspect of a business’s online presence. Your business’s website is often the first impression your company gives to potential customers. It should be clear, clean, easy-to-navigate and contain enough information to answer common customer and potential customer questions and leave visitors with a good grasp of what your company is about.
In contrast, a website – even one that looks great – can actually …
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 …
The Importance of Professional Liability Insurance for Property Managers
Due to the nature of their profession – working with people, property, and all that the two entail – it is imperative that property managers protect themselves and their operations with the right insurance coverage. Property management cases are one of the most common forms of claim brought against real estate practitioners, as well as one of the areas with the highest damage awards. One of the most important forms …
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 …
Professional Liabilities During the Holidays
The holidays are a busy time for everyone. Between buying gifts for your friends and family, planning vacations, decorating your home, having and attending parties, and hosting houseguests, many people are likely very stressed during the month of December. In addition to the pressure of trying to get work completed in the midst of the additional responsibilities of the season, there are several workplace liabilities that appear or increase in …
Top Cyber Liabilities For Businesses
As technology has evolved, so have the ways in which it can be exploited. As October is National Cyber Security Awareness month, it’s important that every business take a look at their current cyber practices and the new trends in technology in order to be aware of potential sources for cyber attacks and to protect themselves accordingly. In addition to having Cyber Liability insurance to cover them in the event …
Reducing Legal Malpractice Claims
Attorneys are on the frontline of lawsuits defending clients against allegations of malpractice or errors and omissions related to the performance and delivery of work. Equally, attorneys can also find themselves sitting in the defendant’s chair when an unhappy client turns the table on them and sues for legal malpractice.
Yet, when a legal malpractice claims is made, often they can be resolved early on. The key is not to …
Cyber and E&O Risks Abound with More Law Practices Using LPOs
Law firms are increasingly spending thousands of dollars each year on electronic discovery, which is the process of finding contracts, evidence, and documents and submitting it to the opposing counsel. Part of the reason for this is that companies that provide these types of services – legal process outsourcers (LPOs) – have lower costs and are in a far better position to analyze huge streams of electronic data pivotal …
Have You Checked Your BYOD Policies Lately?
According to Smarsh’s 2015 Electronic Communications Compliance Survey Report, the percentage of respondents that allow personal devices for business communication is up 17% from last year’s survey, and 73% of respondents have a bring-your-own-device (BYOD) policy, up from 58% last year. That’s a good thing. But, as increasingly more businesses allow personal devices for business communications, more and more workers are relying on text messages to connect with colleagues and …
Accountants E&O Insurance: Minimizing the Risk of Lawsuits
Errors and omissions lawsuits against accountants, CPAs, auditors, bookkeepers and related professionals typically arise out of disputes that involve mistakes or oversights on tax returns, failure to deliver on a promised service, and incomplete or incorrect work, among other oversights. Errors & Omissions insurance, also known as Professional Liability coverage, for the accounting sector protects you and your business from bearing the full cost of defending a lawsuit and any …
