All the headlines from our Errors Omissions Topic Page, ordered by recency.
Nov 5 2013 // Netherlands-based ANV Holdings BV announced that Phil Mayes will lead its new Technology E&O and Intangible Risk Underwriting team. He will be responsible for “building and running the new division which will...
Nov 4 2013 // Specializing is one way to get ahead in today’s insurance world. But becoming an expert comes with its own share of risks.Phrases such as “expert” or “specialist” have the potential to raise...
Nov 4 2013 // Insuring habitational risks has generated more than its fair share of errors and omissions (E&O) claims. While there are a host of issues, consider these specific ones: valuation, ordinance or law coverage and...
Nov 4 2013 // Can you name an industry that contributes $2 trillion to our country’s gross national product (GNP)? How about an industry that is the fastest-growing and represents one in every 12 businesses that exist today? Or...
Oct 17 2013 // Insurance Journal is again on the search to find out what’s happening in the agency errors and omissions (E&O) environment. The final deadline to participate in this year’s survey is Monday, Oct. 21We...
Oct 11 2013 // Insurance Journal is again on the search to find out what’s happening in the agency errors and omissions (E&O) environment.We invite you to participate in the 2013 Agency Errors & Omissions Survey, which will...
Oct 9 2013 // Commercial property insurance buyers could see prices fall from 10 to 20 percent on non-catastrophe risks in 2014 thanks to the influx of alternative capital to the insurance industry, insurance and reinsurance broker...
Oct 8 2013 // The Hanover Insurance Group Inc. has named Greg Leffard president of Hanover Professional Portfolio unit, responsible for the company’s errors and omissions (E&O) insurance businesses.Hanover Professional...
Oct 7 2013 // Professional liability, or errors and omissions as it is also known, is a unique line of business. After all, how many other lines of business have terms like claims made, claims made and reported, retro dates, tail...
Oct 3 2013 // U.S. Risk Pro, a division national MGA and surplus lines wholesaler U.S. Risk Insurance Group, Inc., and Western World Insurance Group have launched a new program for private company directors and officers liability. This...
Oct 2 2013 // Notifying Umbrella Carriers of Potential Claims. Every reader likely knows the importance of notifying an excess/umbrella carrier of potential claims in a timely manner. When the excess/umbrella carrier is the same carrier...
Sep 25 2013 // Policy Change Requests Can Only Be Made if Requesting Party Has Authority/Insurable Interest. Many years ago when I first entered the industry, I remember an experienced underwriter telling the story of an angry ex-wife...
Sep 23 2013 // It seems that practically every time you turn on the news, a part of the United States is being threatened by a significant weather-related event. It’s sometimes anyone’s guess when and where the next...
Sep 18 2013 // The Value of a Name. Applications are called applications and quote sheets are called quote sheets for good reasons. A quote sheet is only supposed to be for quoting and even then, it is a conditional quote. It is...
Sep 17 2013 // Hudson Insurance Group and Crum & Forster, both owned by Fairfax Financial Holdings Ltd., announced a strategic realignment of their directors and officers (D&O) and management liability business.C&F will...
Sep 11 2013 // Loss Control Results Usually Require Disclosure. An agency that uses non-carrier loss control services, regardless of whether it is a third-party firm or an agency’s in-house loss control service, almost always has...
Sep 5 2013 // Producers Not Having Adequate Knowledge of their Clients’ Industry. An agency can have all the right procedures and even follow all the right procedures and still not mitigate one of their biggest E&O exposures:...
Aug 30 2013 // Offering Cyber Liability. Almost without exception all businesses need cyber liability coverage today and yet relatively few have this vital coverage. The exposures can be significant both from an E&O perspective and a...
Aug 30 2013 // Risk Management Services (RMS) has established a group errors & omissions insurance plan for life and health insurance agents in partnership with Gotham Insurance Co. Applications must be submitted via the...
Aug 28 2013 // Policies Subject to Audit. Audits are one of the few E&O exposures agencies have that do not involve a claim. A good method for protecting the agency from audit related E&O claims is to disclose what policies are...