Tag Archives: professional liability

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 …

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The Importance of Professional Liability Insurance for Property Managers

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

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Professional Liabilities During the Holidays

Professional Liabilities During the HolidaysThe 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

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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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Reducing Legal Malpractice Claims

Reducing Legal Malpractice ClaimsAttorneys 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 …

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Cyber and E&O Risks Abound with More Law Practices Using LPOs

Cyber and E&O Risks Abound with More Law Practices Using LPOsLaw 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 …

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Have You Checked Your BYOD Policies Lately?

Have You Checked Your BYOD Policies LatelyAccording 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 …

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Accountants E&O Insurance: Minimizing the Risk of Lawsuits

Accountants E&O Insurance Minimizing the Risk of LawsuitsErrors 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 …

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Potential E&O Exposures for Real Estate Professionals

Potential E&O Exposures for Real Estate ProfessionalsThe use of wire transfers and the Automated Clearing House (ACH) Network are used to handle real estate transactions between businesses and individuals. Real estate agents, brokers, property managers, title agents, escrow agents, mortgage brokers and bankers all have access to personal and financial data of their clients with wire transfers and ACH instructions – information that has become increasingly at risk for fraud and deception. In fact, scammers and …

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Insurance Agency E&O: Discussing Coverage Gaps with Insureds

Insurance Agency E&O Discussing Coverage Gaps with InsuredsA recent case in Ontario, Canada highlights the importance of an insurance agent/broker’s responsibility to review coverage gaps with clients. In the Ontario case, a motion was allowed for summary judgment against an insurance brokerage and the individual broker for failing to meet their duty of care to arrange adequate insurance coverage.

The specifics of this case involve a client who was in a motor vehicle accident while operating his …

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