A Primer on Errors and Omissions Insurance

• Overview
• Credits

Make sure your errors and omissions policy gives you the coverage you need to protect your business.Many professionals and professional services companies rely upon E&O liability insurance to guard against losses to third parties who rely upon their services. Is it possible to micromanage or otherwise review and approve every professional service its employees provide? E&O liability insurance protects the business and its partners from unforeseen mistakes caused by firm employees. This course will help you garner a general understanding of the E&O liability insurance policy, including its insuring clause agreement, the terms and conditions for coverage thereunder, and the most prevalent exclusions. Understanding such a policy allows professionals to navigate their way to coverage for the losses that could occur.

Authors

Agenda

Insurance Basics

• First-Party vs. Third-Party Insurance

• Contract Construction

What Is E&O Liability Insurance?

Current Environment

Coverage Agreement Issues

• Coverage Agreement

• Loss

• Wrongful Act

• Capacity

• Claims Made vs. Occurrence

• Hammer Clause

• Subrogation

Conditions

Common Exclusions

Questions and Answers

Additional Resources