Nuts & Bolts:
Victor O. Schinnerer and Company launched SpecialtyOne, an errors and omissions insurance program for management consultants and staffing firms. Target risks for the program include a range of consultants such as management, marketing, human resource, public relations and market research firms, as well as staffing firms like employment agencies, temporary staffing and executive recruiting. The duty-to-defend policy also features defense coverage against allegations of criminal, dishonest, fraudulent or malicious errors and omissions, and an innocent insured provision. Claims are handled by a third-party administrator specializing in professional liability claims. Schinnerer works with independent agents, brokers and wholesalers. No special licensing is necessary.
Dollars:
Minimum premium is $2,500 and deductibles start at $2,500 for up to $1 million in annual revenue. Policy limit is $5 million.
Carrier:
Brit, a Lloyd’s of London Syndicate, rated “A,” nonadmitted.
States Available:
All except Alaska, Hawaii, Illinois and Kentucky. Coverage will soon be available in Illinois and Kentucky.
Contact:
Mark Wolf, (301) 961-9867, mark.s.wolf@schinnerer.com or Mary Jeffer-son, (301) 951-9798, mary.l.jefferson@schinnerer.com.
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