Latest Professional Liability Headlines
All the headlines from our Professional Liability Topic Page, ordered by recency.
Allied World North America Launches E&O Coverage for Professional Services
Nov 5 2014 // Allied World North America has launched Privacy//403 SRVS PRO, the latest product in the company’s suite of errors and omissions (E&O) products Privacy//403 SRVS PRO builds on the Specified Response Vendor...
Claims Trends
Nov 3 2014 // In terms of agency E&O trends, carriers are closely eyeing an uptick in claims severity. According to Curtis Pearsall, president of Pearsall Associates Inc., a risk management consulting firm specializing agency...
4 Trends to Watch in Professional Liability for Accountants
Nov 3 2014 // There’s no shortage of accountants in the United States today, and the growth of this industry is not expected to slow anytime soon. In 2013, there were 1.17 million accountants and auditors and 1.59 million...
E&O Insights: How Important Is Your E&O Policy?
Nov 3 2014 // Errors and omissions (E&O) coverage: It’s one of the most important coverages you can secure. After all, your agency’s protection depends heavily on your E&O policy and how it works. Despite this, it...
10 Things to Know About Professional Liability
Nov 3 2014 // There were 1.3 million active licensed lawyers in the United States in 2013. —American Bar Association In 2012, the probability of a plaintiff receiving a favorable verdict in a jury trial involving an employment...
How to Navigate Today’s Agency E&O Market
Nov 3 2014 // While many agencies stick with their agency errors and omissions (E&O) carrier, those that do shop around tend to do so when premiums are rising. According to Insurance Journal‘s exclusive 2014 Agency E&O...
Burand’s Agency E&O Blog: Tip #64
Oct 24 2014 // Confirmation That Suit Papers Have Been Received by the Carrier.While not an every day occurrence, most agencies receive suit papers from various parties several times a year and these papers must be forwarded to the...
Freedom Specialty, Pro-Praxis Unite for Healthcare Professional Liability
Oct 23 2014 // Freedom Specialty, an arm of Scottsdale Insurance Co., is partnering with healthcare underwriter Pro-Praxis, part of the Cooper Gay Swett & Crawford Group, for a specialized excess healthcare professional liability...
Burand’s Agency E&O Blog: Tip #63
Oct 21 2014 // Inflation Factors are Missing.Some property policies, particularly dwelling policies in personal lines, lack automatic inflation adjustment factors. These same policies often get less attention than other personal lines...
Exposure Analysis Checklists in Commercial Lines
Oct 20 2014 // For the last 25-plus years, the No. 1 cause of errors and omissions (E&O) claims has been “failure to provide the proper coverage.” In 2013, many E&O carriers reported that this accounted for more...
Burand’s Agency E&O Blog: Tip #62
Oct 17 2014 // Producers and Staff Do Not Adequately Know the Agency’s Procedures.More often than many might expect, staff and particularly producers do not adequately know the agency’s procedures. This can be especially...
Pioneer Underwriters Launches Pioneer Special Risk of N.Y.
Oct 16 2014 // Pioneer Underwriters has launched a new division called Pioneer Special Risk of New York and hired Gary Dubois as division president. Based in New York, Dubois is joined by Steve Sitterly, chief operating officer, and...
Burand’s Agency E&O Blog: Tip #61
Oct 15 2014 // Proper Authorization to Change Coverages Part II.In Blog 14 I wrote about the need to verify the party requesting a change in coverage has the required authority to make such a request. Another variation of this theme is...
Willis North America Beefs Up Cyber Risk Practice with 6 Appointments
Sep 22 2014 // Willis North America has reinforced its cyber risk management and insurance services with several appointments to its FINEX Cyber/E&O Practice. The following individuals will focus on Willis’ national and...
E&O Insights: How Well Do You Know Your Workers’ Compensation Risk?
Sep 22 2014 // The workers’ compensation class of business results in upwards of 10 percent of all errors and omissions (E&O) claims every year. While this may not seem like a lot, it is a class agents must be sensitive to for...
Why Independent Agents Should Take Advantage of a Higher Standard of Care
Sep 8 2014 // I’ve had many independent agents (IAs) vent, fume, exclaim, yell, scream, curse and express total exasperation at losing an account because a captive or direct writer undercut the price while promising speculative...
Take Time to Minimize Your Exposure to E&O Claims
Sep 8 2014 // During my more than 20-year career in the insurance industry, I have spent hours working with my colleagues to prevent hard-earned, front-end revenues from leaking out the back door due to errors and omissions. When a...
E&O Insights: Managing Disasters from an E&O Perspective
Sep 8 2014 // If your agency is looking to manage disasters and catastrophes from an errors and omissions (E&O) perspective, could performing account reviews for your clients be just the answer? Absolutely. As many agencies...
Coverholders Playing Greater Role in Lloyd’s Global Expansion
Sep 8 2014 // Lloyd’s of London began and remains a specialized market (not an insurance company). It accepts risks that are too large, or too complex, or both, that do not lend themselves to coverage through more “normal...
Small Commercial Lines: The Good, The Bad, The Ugly
Aug 27 2014 // Small commercial lines is suddenly the Cinderella of the insurance industry. Previously the unwanted step child turned beauty queen being courted, pursued, and being offered dowries for marriage. Dowries and marriage are...
