All the headlines from our Errors Omissions Topic Page, ordered by recency.
Nov 2 2008 // The federal government’s recent bail out of American International Group Inc. (AIG) via a $122 billion-plus loan to keep the company afloat set the insurance industry on edge. AIG’s insurance entities are...
Nov 2 2008 // More lawsuits and firmer rates for directors and officers liability coverage are almost certainly ahead as a result of the global financial crisis, which is likely to hit insurers especially hard. Given this, what are the...
Nov 2 2008 // In sports, the best offense is a great defense, right? When it comes to preventing errors and omissions claims defensive measures are also the best offense in protecting an insurance agency. Defensive strategies, or risk...
Nov 2 2008 // We have all had experiences in our lives where we look back and realize our very life was almost extinguished. If not for the difference of a few seconds or inches this column would not be written or you would not be...
Nov 2 2008 // Joe the “insurance agent” wants a reasonably priced errors and omissions insurance policy for his independent agency that covers all the business activities his operation engages in, whether they are revenue...
Nov 2 2008 // 40 Risk Management Steps Independent Agents Implemented to Lower Their Risk The exclusive 2008 Insurance Journal Agency E&O Survey asked independent agents what risk management steps their agency has implemented to...
Nov 2 2008 // The 2008 Insurance Journal Agency E&O Survey, conducted Oct. 3 through Oct. 16, drew 1,042 respondents from 50 states; there were no respondents from the District of Columbia. The five states with the highest...
Oct 10 2008 // The Alliance of Insurance Agents & Brokers is offering a new errors and omissions program for its members. The program offers rates as low as $1,500 per year, broad coverage and various options through the American...
Sep 22 2008 // The use of technology is interwoven into agency procedures and practices, says Sabrena Sally, senior vice president of commercial insurance with Westport Insurance Corp., a subsidiary of Swiss Re and one of the largest...
Aug 20 2008 // David J. Molitano has been appointed to the new position of technology errors and omissions (E&O) manager for XL Insurance, XL Capital Ltd’s global insurance operations, in the company’s Select...
Aug 13 2008 // Swiss Re’s Commercial Insurance group has introduced Errors and Omissions (E&O) agency umbrella coverage in all 50 states and the District of Columbia.“The insurance policy offering was developed in...
Jun 2 2008 // The Supreme Court of Arizona ruled that an insurance agent’s clients may assert claims for professional negligence against the client and may assign such claims to third parties.According to D. Jere’ Webb v....
Apr 21 2008 // Certificates — not again. Haven’t we heard enough about this topic?Apparently not. Certificates are issued for all sorts of insureds, but contracting risk is the most dangerous of them all. Why does the contractor...
Apr 7 2008 // From the vantage point of early 2008, insurers writing directors and officers coverage can look back on the prior year and developments at what may prove to be a transitional period in terms of the frequency, type and...
Mar 24 2008 // When I sold my agency in 2001, I moved to Florida and started buying shopping centers. Hurricane Frances almost destroyed the center I acquired across from the beach one day after my first renewal. My agent had originally...
Mar 24 2008 // The public views insurance agents and brokers as professionals, experienced and knowledgeable in a complicated and specialized field. Negligence focuses on the principle that people who hold themselves out to the public as...
Mar 6 2008 // San Diego, CA, 03/06/2008 – ARROWHEAD General Insurance Agency, Inc. has announced its independent property and casualty insurance agents errors and omissions product will be underwritten with an “A”...
Feb 24 2008 // San Diego-based Barney & Barney LLC named Jim O’Connell principal. He also will serve as director of development for programs, specialty insurance solutions. In that role, he is responsible for both regional and...
Feb 24 2008 // The crisis in the subprime mortgage market has had little impact on availability, cost or policy conditions of directors and officers liability (D&O) and errors and omissions liability (E&O) insurance policies,...
Feb 24 2008 // If anything is certain in the world of technology, it’s that it is always changing — rapidly. Electronic and Internet communication devices that were unheard of 10 years ago, maybe even five years ago, are so...