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Professional Liability (Errors and Omissions)
It is well known that doctors, lawyers, accountants, architects, engineers and insurance agents and brokers all need errors and omissions coverage. Less considered are individuals ranging from advertising agencies to commercial printers, Web hosting companies to wedding planners. There is no "standard" policy wording for E&O coverage. Each policy must be read carefully to determine applicable coverage. Our attorneys realize there is no "one size fits all" approach to an E&O policy. Since most E&O policies are "claims made" or "claims made and reported," all claims must be made or, in some cases, made and reported, within the policy period. Our attorneys keenly focus on trigger, as well as other issues, such as policy exclusion, defense allocation and retroactive date.
Increasingly, insurance agents and brokers are being sued regarding claims reporting, placement of coverage and involvement with captive programs. Our attorneys are particularly experienced at defending agent and broker E&O claims. Many brokers and agents are skilled and capable professionals who help individuals and businesses obtain the appropriate amount and type of insurance for their insurance needs. If a policyholder is not afforded coverage, however, it may assert a claim against its agent or broker. Recent matters we have successfully handled involving agents and brokers claims include allegations of:
- Neglect in explaining the terms of a policy completely
- Failing to write a policy that provides adequate coverage
- Forgetting to send the signed policy to the company
- Failing to advise of rights and options
- Including inaccurate information on insurance forms and applications
- Material misrepresentation in the insurance application
For more information about our professional liability practice please visit our Professional Liability Practice Group page. For more information about the Global Insurance Services Group at Goldberg Segalla LLP, please contact one of the practice group Co-Chairs:
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