Archive for Professional
This coverage insures the legal liability of an accountant or accounting firm for injury or damage that results from professional services it rendered or did not render, caused or allegedly caused by neglect, error, omission, dishonesty, misrepresentation, fraud, libel, slander, or defamation of character. Certified public accountants and accounting and bookkeeping firms that employ accountants are eligible.
Accreditation agencies provide important services to their industry by reviewing businesses in it and verifying that they meet that association or organization’s established guidelines. Errors by these agencies can result in a business ceasing operations or losing financing and/or customers. This coverage protects the agency against third-party liability claims that allege financial loss and/or personal injury caused by its wrongful acts, errors, or omissions while performing its accreditation services. Underwriters prefer agencies that work with industries that have well-defined and standardized accreditation and certification procedures.
Actuaries were once associated with only insurance companies. They are now recognized as independent advisors whose expertise is used by many different businesses. Independent actuarial firms provide services such as outsourcing for insurance carriers that need temporary assistance on certain projects. They also offer advice to financial entities that attempt to determine the future value of potential takeover targets. Some perform analyses for insurance departments. The type(s) of actuarial service(s) the risk provides determines its underwriting acceptability and the premium to charge.
This insurance protects individual claims adjusters or adjusting companies against allegations of breach of duty due to actions of the named insured or its employees while acting as an insurance adjuster. Public adjusters usually work for individuals while private adjusters work with insurance carriers.
Adoption agencies are usually nonprofit organizations that function as placement resources, child placement agencies, or home study services. Many agencies are involved with both domestic and international placements but most specialize in one or the other. Services provided include both pre- and post-adoption counseling for adoptive parents, preparation for the home study process, and assistance in completing required documentation. Home study consists of a series of interviews a social worker conducts in the home. Some agencies provide care for the birth mother who gives up her baby for adoption. This coverage provides professional liability and directors and officers liability, in addition to general liability. Personal injury, libel, slander, defamation and/or discrimination coverage is also included.
Advertising & PR firms
This insurance covers libel, slander, defamation, infringement of copyright, title or slogan, piracy, unfair competition, or misappropriation of ideas, and any invasion of the rights of privacy that an advertising agency allegedly commits. It also covers investigating claims and defending against legal actions.
Answering and message centers serve businesses, professionals, contractors, and service companies that must have their calls answered and messages taken around the clock. They may also provide voice mail, fax messaging, printing, photocopying, and similar office services. This coverage insures businesses for injuries alleged to have occurred because of negligent acts, errors, or omissions in performing answering services for others.
Architects and Engineers
This coverage protects individual architects, engineers, architectural firms, and engineering firms against allegations of damages due to their professional negligence. The professional qualifications of principals, details of staff organization, and types of work performed are important underwriting and rating considerations. Coverage is written on a claims-made basis and is usually subject to high deductibles.
Asbestos Abatement Contractors and Consultants
At one time, many public buildings, offices, and school buildings used asbestos materials in their construction to resist or reduce the spread of fire. Those once-touted products have since been found to be extremely toxic. Asbestos abatement consultants determine if a property contains asbestos and suggests ways to best mitigate any asbestos exposures found. Their professional liability exposure arises from mistakes they make in the assessment process and in testing during and after completing a mitigation project. Exposures can also arise if suggested methods are not appropriate or are not effective. Carriers that insure asbestos abatement contractors may extend liability coverage to also apply to asbestos abatement consultants. As buildings that contain asbestos are remodeled, remediated, or demolished, contractors must first remove or contain any asbestos material in them before starting any other construction activities. Liability insurance coverage on specialized asbestos abatement contractors is extremely difficult to place.
Associations Professional Liability
This insurance covers nonprofit associations professional liability exposures. The policy can include directors and officers liability that is designed specifically for nonprofit associations. The insuring agreement includes as named insureds all directors, officers, employees, committee chairpersons, and members, and any other association member while acting on the association’s behalf.
Auctions are big business. Businesses and individuals often dispose of their excess property or possessions through estate sales, art sales, livestock auctions, and other consignment sales that use the services of auctioneers. This coverage protects individual auctioneers and/or the auction company against claims made against them because of alleged negligent acts, errors, or omissions while performing their duties as auctioneers.
Many markets offer coverage for broadcast towers, mobile units, studio (and other) equipment in addition to other inland marine, property, business income, general liability, commercial auto liability and physical damage, crime, and workers compensation coverages. However, there is a limited market for broadcaster’s liability. Broadcaster’s liability covers errors and omissions (including libel, slander, invasion of privacy, and other errors) that result from broadcasting operations. The potential legal liability of a broadcaster varies and includes (but is not limited to) the use of incorrect news stories, libel, slander, invasion of privacy, copyright infringement, and unauthorized use of a plot, characters, or music. Broadcasters liability insurance covers these exposures and provides defense costs incurred to contest suits or claims.
Catering and Caterers E&O
This coverage protects catering services, hotels, and others that provide catered event services to their customers or guests for errors or omissions they make that result in a lawsuit. Coverage applies to only the time period that starts when the event begins and ends when it ends. Coverage applies to all services that the caterer is contractually obligated to supply. Examples of services provided are the band, hall, food, flowers, and parking. Failure to provide services as promised has been known to cause pain, suffering, and humiliation. A poorly handled event can also result in the party that requested the event losing clients and sustaining financial loss.
Cemetery Professional Liability
This coverage protects cemetery operators for damages because of bodily injury, sickness, disease, or death (including mental anguish) sustained by any person that arises from the cemetery operator’s professional negligence. Coverage also extends to property damage to property of others, such as caskets, deceased human remains, urns, and clothing entrusted to the cemetery operator to use for burial or cremation. Coverage can also be arranged to apply to errors and omissions in connection with the sale and transfer of cemetery plots or mausoleums.
Clergy Professional Liability
Members of the clergy may be sued for causing emotional or physical suffering that arises from a variety of causes. While many claims for loss arise from counseling sessions, others are brought due to preaching, because of public accusations of wrongdoing, and administrative actions such as forced removal of a person from a position or a person’s total expulsion from the church. Coverage may be extended to non-clergy staff who function in church-related roles.
Collection Agents E&O
This coverage protects collection agencies and their clients against claims that result from their negligent acts, errors, or omissions.
Computer Software Designers E&O
This insurance covers errors in programs or in systems designed by computer software designers and consultants. In many cases, computer consultants’ errors and omissions coverage is written as part of a package arranged for computer firms.
Consultants Professional Liability
Consulting firms advise their clients on specific management or business problems. The services provided can include offering advice on employment practices, sales development, time management, executive search, marketing strategies, computer testing, and other matters. Insurance coverage is usually tailored to match the specific services the consulting firm offers. Underwriters evaluate every activity the business conducts before they accept it and determine the appropriate premium to charge.
Corporate or Employed Counsel Professional Liability
Corporate lawyers are protected under their employers’ professional liability policy for any professional liability claims that result from their corporate responsibilities. However, they are not protected when they provide professional services not directly related to their employers’ business interests. They may also be exposed if their employer becomes insolvent or the employer’s professional limits are used up by paying other claims. This coverage fills that gap and covers the employed lawyer when he or she provides advice to others for a fee, gives casual advice to friends and other employees, does work for friends and relatives at no charge, performs other non-employer-related exposures, and if defense and coverage is needed because the employer’s coverage is not available.
County Clerks and Recorders E&O
County clerks and/or recorders keep track of the county’s paperwork. Liens, mortgages, marriage certificates, and many other papers and documents that impact the lives of all constituents are legal only if they are filed properly and recorded with the country clerk and/or recorder. Errors and omissions on their part can result in problems that will affect the county for many years. This insurance covers county clerks and/or recorders against allegations of errors and the omissions in the way they perform this vital responsibility. This coverage is usually written as of the insured’s original date of election or appointment.
Court reporters are an essential part of all legal proceedings. They provide the written transcript of all judicial proceedings. The court reporter must be present during trials, depositions, and anytime an official record is required. The accuracy of the record is vital because it is the only acceptable record of the proceedings. Errors, mistakes or omissions by the court reporter can result in serious consequences for all parties to the judicial proceeding.
Customs Brokers and Freight Forwarders
Customs brokers and freight forwarders work with importers to ensure that their commodity shipments clear customs according to government guidelines and regulations. Customs brokers manage the paperwork on the import from the time it arrives at the port of entry. They also act as freight forwarders to deliver goods to the customer’s inland location, regardless of the distance. Customs brokers errors and omissions coverage protects them against suits that arise from their negligence in arranging for clearance and forwarding imports on the importer’s behalf.
Document Destruction Professional Liability
Businesses are (or should be) concerned with privacy and confidentiality issues that relate to their customers’ information. Document destruction businesses can be hired to destroy such confidential customer information. Document destruction professionals are responsible for maintaining and protecting the information’s confidentiality and ensuring that the destruction is complete. Professional liability insurance is available that responds to claims that allege improper handling and destruction of the material. Claims may be for alleged unauthorized access to or theft of sensitive documents; intentional acts by an employee; negotiable instruments falling into the wrong hands; identity theft stemming from information on sensitive documents; violation of privacy; negative publicity from the release of sensitive documents; and improper handling of documents required in a court hearing.
Drug Testing Liability
A false-positive drug test error can lead to an individual being fired or not being hired. Even worse is the false-negative drug test that allows an individual with a drug problem to remain on the job and cause injury or damage. For these reasons, the stakes are very high. This coverage insures medical review officers, breath alcohol technicians, and substance abuse professionals who determine if employees remain on their jobs or are terminated. These technicians could be considered professionally negligent if they do not comply with federal regulations under drug testing laws.
Ear Piercing Liability
Certain shops use ear piercing to lure or encourage customers to buy earrings and jewelry. This coverage protects the shop against claims for injuries or infections that result from the piercing.
Educators/Teachers Individual Professional Liability
Teachers and other educators can be sued by or on behalf of students for actual or alleged injury or damage. While the employing school or district has a responsibility to defend the teacher, the objective of that school or district is to first protect itself. The individual will have little control of the action and may actually lose all coverage and defense if the school or districtâ€™s limits of liability are exhausted by payments of other suits. This coverage is purchased by the individual for his or her own protection. It includes defense coverage plus high limits of indemnity against allegations of not providing appropriate or effective professional services such as inadequate supervision, assault, damage to property and more.
Electronic Data Processors E&O
This coverage protects the insured that performs data processing service for others against claims that arise out of a negligent act, error, or omission in its handling and processing of electronic data.
Employed Counsel Professional Liability
Employed lawyers are covered under their employers’ professional liability policy for any professional liability claims that result from them carrying out their corporate responsibilities. However, they are not covered when they provide professional services not directly related to their employers’ business interests. They may also become exposed if their employer becomes insolvent or if the employer’s professional limits are used up paying other claims. This coverage fills that gap and provides coverage when the employed lawyer provides advice to others for a fee, casual advice to friends and other employees, does work for friends and relatives at no charge, or performs other non-employer-related services as well as if defense and coverage is needed because the employer’s coverage is not available. :
Employee Staffing Services
Staffing services furnish employees to businesses on a contract basis. They are responsible for the employees’ payroll, employee benefits, workers compensation, and other human resource-related functions. Both general liability and professional liability are written in the same form. Third-party fidelity coverage, employment-related practices liability, and workers compensation coverage may also be provided.
Employment Agencies E&O
Employment agencies and counselors are usually situated in larger urban areas. They assist job seekers and employers in job placement for key executives, secretarial, clerical, and other positions. In addition, some specialize in industry-specific job openings for skilled and unskilled workers. The agency or counselor has an errors and omissions exposure if a job applicant’s qualifications are misrepresented through negligence, error, or omission or if it defames the applicant in any way.
Employment Temporary Services Agencies
Employment agencies that provide temporary employees to offices, engineering, light manufacturing, and service businesses are very important to operations that have high peak loads or need temporary help for certain jobs because of employees on vacation or on emergency leave. Coverage includes the agency’s professional liability, liability for damages a temporary worker causes, and workers compensation insurance for the temporary worker.
Engineers Professional aka Architects and Engineers Professional Liability
Engineers Professional aka Architects and Engineers Professional Liability”,”
This coverage protects individual architects, engineers, architectural firms, and engineering firms against claims for damages that arise from providing or failing to provide professional services caused by an error, omission, or negligent act. It is usually subject to high deductibles and is written on a claims-made basis by.
Environmental Consultants E&O
Environmental consultants’ professional liability coverage insures against errors and omissions claims that allege that the consultant’s advice, assessment, or recommendations resulted in economic damages. It also provides defense coverage. It is written on a claims-made basis and is subject to a retroactive date.
Escrow Agents E&O
This coverage pays for damages that arise from escrow agents’ negligent acts, errors, or omissions. In addition, mortgage service companies, mortgage departments of banks, savings and loan associations, and title companies often act in this capacity to arrange and service loans for real estate properties. Deeds, property taxes, and property insurance premiums are examples of items that title companies and mortgage service companies or departments hold in escrow. The market for this coverage is limited
Event Coordinators E&O
This covers event coordinators against allegations of errors or omissions that cause financial loss to their client. Examples of these events include conventions, weddings, conferences, sporting activities, fundraisers, and political activities.
Excess and Surplus Lines Brokers and Managing General Agents E&O
Insurance agencies or brokers that specialize in placing coverage for other agents in non-admitted markets, Lloyd’s of London and other foreign markets need specific errors and omissions coverage. In addition, managing general agents that handle standard or specialty coverages for other agents have unique special errors and omissions exposures. The nature of excess and surplus lines markets means that they deal with carriers that are not licensed in most states. This increases the errors and omissions exposure for agents and brokers that specialize in those areas.
Liability insurance that covers pest, rodent, and termite control operations is extremely difficult to place through standard markets. Hazards associated with these operations include property damage to clients’ household furnishings or clothes from chemicals and other exterminating agents, sickness or bodily injury to persons and household pets, pollution, and waste disposal coverage.
Film and TV Producers E&O
This coverage is increasingly important for any entertainment production company. There is a very real possibility that a title used in a television series or film may infringe on the same or a similar title used in the past or that a motion picture’s plot might too closely follow a previously released show. Entertainment title and copyright research firms offer valuable assistance to carriers that handle film and television producers’ errors and omissions.
Film and TV Producers Indemnity (Cast Insurance)
Film and television producers indemnity insurance is better known as cast insurance. It protects a film or television production company against loss caused when filming must be abandoned because the star or a key character is injured, becomes ill, or dies. It also covers extra expenses incurred to complete a film if totally abandoning it is not required.
Financial Planners E&O
Financial planners occupy special positions of trust. Individual or corporate financial planners advise their clients on tax planning, estate planning, investment management, pension, and employee benefit plans in return for a fee. Due to the level of trust involved, errors and omissions insurance is needed to protect financial planners against claims of negligence that result from handling a client’s account or due to the advice provided.
Forensic and Expert Witness E&O
This coverage complements lawyers professional liability insurance. Eligible risks include forensic experts, litigation consultants, legal support specialists and expert witnesses. It covers errors, omissions, and negligent acts by these parties in performing professional duties for others but excludes bodily injury and property damage liability.
Forestry or Foresters E&O
This insurance coverage is available to employed and consulting foresters who manage forest areas and nature preserves. It applies to damage caused by such activities as controlled burns, timber cruising, setting boundary lines, and wildlife management.
Liability coverage on fumigators applies to pest control, fumigation, and extermination services. Because fumigating gases are poisonous, only trained, qualified, and experienced professionals are licensed to use them.
Golf Course Architects
Golf course architects are involved in the construction of most new and reworked golf courses in the country. Their teams combine the talents of engineers for drainage issues, horticulturists for choice of plant material, and landscape architects for the design and construction elements necessary in this narrow specialty.
Hearing Aid Service E&O Liability
This coverage insures companies or individuals who fit, distribute, or sell hearing aid devices against claims that allege errors or omissions that result in the user’s bodily injury or death. Coverage includes injuries that may result from the taking of or making impressions for and fitting earplugs for such hearing aid devices. It also covers filling prescriptions for the devices.
Home Inspection E&O
This insurance covers errors and omissions home inspectors make while evaluating the soundness of structures and their related systems. It is written on a claims-made basis. Optional coverage for errors or omissions in detecting the presence of radon and/or lead can be included, subject to a sublimit. Contingent property damage that covers property damage that arises from the inspector’s professional services is also available.
Industrial Hygienists E&O
Industrial hygienists are occupational and environmental health professionals who work with business and industry to identify and manage environmental and safety concerns in the workplace. They test for exposures such as asbestos, bacteria, chemical leaks, lead, and other hazards and impediments to a safe environment. They also test for underground fuel tank leaks. Some insurers include geologists and ventilation specialists and consultants in their industrial hygienists programs. This professional liability coverage is usually written on a claims-made basis.
Insurance Agents and Brokers E&O
Every responsible insurance agent or broker needs this coverage. It protects against claims for negligent acts, errors, or omissions in the conduct of their business as insurance agents or brokers. The agent’s responsibilities and duties to both the insured and the insurance company are considered. The broker’s responsibilities to its client in the eyes of the law are significant because the broker is the insured’s agent and counselor and may be directly liable to it for failing to perform services as agreed, resulting in loss to the insured. The National Association of Professional Insurance Agents (PIA) and Independent Insurance Agents of America (IIAA) have had group-sponsored plans for many years.
Insurance Company Professional Liability
This is professional liability insurance coverage for insurance companies. It usually insures losses that arise from legal actions initiated against them for their alleged mishandling of claims, engineering or safety inspections, and financial counseling. This coverage is available to both life and property and casualty companies for varying limits.
Insurance Investigators E&O
This insurance covers alleged negligent acts, errors, or omissions by contracted insurance investigators while performing investigative activities on an insurance company’s behalf.
Interior Designers Professional Liability
This professional liability insurance covers negligent acts, errors, or omissions that interior designers commit while providing their professional interior design services. It applies to liability for errors and omissions that arise from advice given to clients on proper decor for building interiors, office layouts, and dwellings. Claims-conscious clients may sue an interior designer if any advice or work performed leads to actual or alleged financial loss.
Internet Home (Web) Page Designers E&O
Many businesses have established themselves as specialists in computer website design and consulting. These companies serve small businesses and help them market their products on the Internet. Other services provided include process reengineering, networking, and technical writing. Insurance package policies have been developed that cover personal injury liability, including libel, slander, copyright, and trade slogan infringement stemming from electronic communication of information or unauthorized access to a website. They may also cover loss or damage to computer equipment or media and data from vandalism or computer virus, and protection of customers’ funds fraudulently withdrawn electronically.
Investment Counselors E&O
This professional liability insurance covers investment counselors who give financial, economic, or investment advice to their clients. Coverage does not apply if the investment counselor actually buys or sells stock, bonds, or other investments for the client. It also excludes any coverage for security underwriting, libel, slander, dishonest acts, and actual intent to deceive or defraud the client.
IRA or Keogh Plan E&O
This coverage is written on a claims-made basis. It protects an IRA or Keogh plan administrator, often a bank or association, against claims that arise from alleged mishandling of the plan’s accounts. It covers defense costs and reimburses reasonable expenses and attorney’s fees incurred by officers or directors.
Irrigation Designers E&O
Irrigation is an increasingly necessary component in nearly every kind of development, regardless of location. Designs include parks, commercial locations, office parks, athletic fields, stadiums, golf courses, and private residences. Subspecialties of irrigation design include drip irrigation, surface, sprinklers, turf, and agricultural irrigation. Common errors and omissions claims include landslide due to oversaturation; problems with plant growth; and other soil-specific situations. A new area of exposure is that of green buildings that incorporate rooftop gardens.
Labor Unions E&O
This coverage indemnifies a labor organization for claims that result from actual or alleged negligent acts, errors, or omissions committed in the conduct of its business. Actions of local unions, district councils, state bodies, city or area councils, international organizations, apprenticeship committees, schools, and other organizations that the Department of Labor recognizes and regulates may be covered. Labor organization officers, former officers, executive board members, and union officials are insured against claims for loss that result from actual or alleged negligent acts, errors, and omissions in carrying out the organization’s business. Employees may also be covered as “union officials.” The coverage is written on a claims-made basis and has a retroactive feature that covers claims that result from activities performed prior to the inception date.
Land Surveyors Professional Liability
This coverage protects land surveyors against claims that allege negligent acts, errors, or omissions in performing their professional duties as land surveyors. Errors made in judgment or mathematical computations, particularly in establishing boundaries of properties, may result in serious financial losses to the surveyor’s client. Detailed applications are required.
Law Enforcement Officers Liability
Law enforcement officer or police professional liability coverage forms or policies provide broad coverage to law enforcement agencies and their individual law enforcement officers. They cover the law enforcement agency of any political subdivision named as the insured, along with all paid full-time and part-time individual law enforcement officers. This coverage insures against third-party suits or claims for bodily injury liability and personal injury liability, including legal defense against such actions. Acts such as false arrest, erroneous service of civil papers, false imprisonment, libel, slander, defamation of character, violation of property rights, and assault and battery in the course of making an arrest are covered.
Lawyers Professional Liability
Lawyers professional liability covers the law firm and the individual attorneys who work for the firm against claims that allege negligence, errors, or omissions in performing their duties as lawyers. Availability, limits, and deductibles vary based on the particular law firm’s specialties and the number of partners and other employees.
This combination liability coverage arrangement insures manicurists against claims that arise from alleged malpractice, product liability, and ordinary premises liability.
Marine-related Professional Liability and E&O Coverage
Businesses that design yachts, pleasure craft, and commercial vessels, as well as marine surveyors, port and harbor managers, and other miscellaneous marine-related risks all have professional and/or errors and omissions liability exposures.
Marketing and Public Relations Firms E&O
Errors and omissions insurance is available for marketing and public relations firms that handle their clientsâ€™ marketing and advertising programs. These firms develop campaigns to promote products or services for manufacturers, dealers, contractors, and other service businesses or individuals. Libel and slander for published or broadcast promotional or advertising material as well as infringement of copyright are serious concerns to these agencies. A media professional liability coverage form or policy is a must for any marketing firm because it covers advertising liability, libel and slander, infringement of copyright, and other types of offenses.
Marketing Consultants E&O
This liability coverage protects the insured consultant when there are allegations of financial loss and/or personal injury caused by an error or omission the consultant allegedly made while performing marketing services for others. Typical exposures include infringement of copyright, faulty publicity advice, errors in news releases and/or press dates, and missed deadlines. Firms that have been in business at least three years or principals with prior marketing consulting experience are preferred. Each claim is subject to a minimum deductible amount.
Marriage and Family Counselors Professional Liability
Marriage counselors deal with the sensitive emotions of marriage and family. As a result, they are more vulnerable to lawsuits for failing to meet the expectations of their profession. Professional liability for these counselors is available in much the same manner as other health care professionals. Underwriting considerations include location, counselor’s credentials, number of visits, and prior suits or incidents, among others. This professional liability coverage may be written on a stand-alone basis or be combined with commercial general liability coverage.
The use of mediators and arbitrators is increasing as conflicting business parties try to keep their grievances against one another out of court. Long court delays, high legal bills and court mandates all encourage this practice. Arbitrators have powers to make binding decisions. Mediators help negotiate conflicts, but only the parties involved have the power to make decisions.
Medical Billing Companies E&O
Businesses that prepare doctors’ bills to send to Medicare, state Medicaid programs, insurance companies, and others can purchase errors and omissions insurance. It pays the legal expenses and damages a doctor sustains due to errors by the third-party billing firm. Coverage is usually subject to a small deductible.
Medical Device Distributing
Many companies distribute multiple types of medical devices. The devices can consist of simple disposable items or may be delicate items that are implanted inside the patient. Distributors of some of the more complicated devices may actually enter the operating room to assist in sizing the most appropriate device.
Medical Personnel Service Agencies Professional Liability
Liability insurance has been adapted specifically for medical personnel service agencies. Coverage includes commercial general liability and professional liability. Agencies eligible for coverage include nursesâ€™ registries, home health-aid services, and state or city visiting nurse associations. It covers physiotherapists, dental assistants, pharmacists, LPNs, and RNs. It can also include medical personnel such as ambulance attendants, chiropractors, emergency medical technicians, nurse practitioners, paramedics, and physiciansâ€™ assistants on an optional basis. Liability limits vary, based on the type of agency and the extent of its operations.
Mental Health Clinics Professional Liability
Mental health clinics provide a variety of services for adults, adolescents, and children who may be referred by a family doctor, school officials, social workers, counselors, or law enforcement officers. These centers provide individual and group counseling, medication, and day care programs. Short-term inpatient services may be provided for persons who receive treatment. Staff consists of psychiatrists, psychologists, psychiatric nurses, and activity therapists.
Mortgage Bankers and Servicing Agents E&O
This coverage protects against losses from any claim against the insured for alleged negligent acts, errors, or omissions committed in originating, financing, closing, selling, or servicing mortgage loans on real estate or providing advice for any of these.
Mortgage Brokers E&O
Mortgage brokers place mortgages for realtors who sell homes and commercial risks. The brokers arrange the financial papers and place the loan with secondary money markets or financial institutions. Unlike mortgage bankers, they do not handle the loan once it is placed. Mortgage brokers are the intermediaries between purchasers of the property and the lenders. Errors and omissions coverage protects the broker against loss from any claim for any alleged negligent act, error or omission in placing a mortgage.
Morticians Professional Liability
This coverage protects an insured mortuary, its funeral directors, and employees against claims that allege professional negligence on their part in conducting funerals. Coverage includes property damage claims for property that belong to others in the insuredâ€™s care, custody, or control, including corpses and burial articles. Applicants for this insurance must be qualified morticians licensed by the state where they conduct operations.
Mutual Fund Managers E&O
Mutual funds permit smaller shareholders to invest in a number of stock portfolios instead of investing in individual firms. Fund managers have an important fiduciary responsibility to fund shareholders. Coverage for errors and omissions in administering the fund insures the fund itself, as well as individual managers, officers, and directors.
Notary Public E&O
This coverage insures a notary public against claims for alleged negligent acts, errors, or omissions in the conduct of his or her duties as a notary public. This coverage is frequently added by endorsement to insurance or real estate agents and brokers errors and omissions policies when there is a notary exposure. Attorneys often employ individuals with notary public credentials who need the coverage.
Oil Landmen and Lease Brokers E&O
This coverage is tailored to meet the specific needs of oil landmen. They provide title search and oil lease purchasing services on behalf of clients who are beginning to develop oil properties. This errors and omissions coverage insures the landman’s errors and omissions.
This is errors and omissions liability coverage for paralegals. Paralegals may or may not be included in a law firmâ€™s professional liability coverage. Regardless of whether the employerâ€™s professional liability covers them, individual paralegals need this coverage to protect them. in case limits are used up or the law firmâ€™s coverage is inadequate. It also protects them for professional advice provided or activities undertaken for others that are not related to the law firm where they are employed.
Patent infringement insurance responds to suits brought in the United States against an insured that manufactures, uses, or distributes a covered product that allegedly infringes on a patent. It covers the costs to defend the suit in addition to the costs to settle the claim with the party that owns the patent.
Pension Consultants’ Professionals
Pension consultants are professionals who work with employers to formulate, implement, administer, and maintain qualified retirement plans and other employee benefits programs. They often work with actuaries to provide complete services to both employers and employees. The type of services provided determines the risk’s acceptability and the premium to charge.
Personal Trainers Professional Liability
People hire personal trainers to supervise their physical training and fitness exercises. Trainers may also arrange special diets and nutritional supplements for their clients. Professional liability insurance covers the trainer’s acts of negligence or omissions in setting up a fitness program or in supervising training.
Pharmacists Professional Liability (Employed)
This professional liability coverage insures employed pharmacists against claims for damages due to injury that arises from alleged malpractice, error, or mistake in the rendering of professional services. Pharmacists who work for or own a drug store are protected by that storeâ€™s druggists liability policy. However, an employed pharmacist is not covered for professional advice or activities that are not related to that drug store. This coverage also helps the employed pharmacist if the drug storeâ€™s limits are used up or if the coverage is inadequate to protect the pharmacist. This insurance is subject to the general rules for health care providers professional liability insurance.
Photographers & Videographers E&O
This professional liability insurance covers errors, omissions, and negligent acts of commercial photographers. Such acts include taking pictures the client did not want taken, not taking pictures the client did want, misdelivery or non-delivery of proofs and finished photos, and damaged memory cards. Coverage may apply to invasion of privacy or other personal injury risks.
Planners Professional Liability
Nearly every governmental entity and most developers use professional planners. Planners utilize data to forecast a community’s future needs for infrastructure and similar support facilities. Planning breaks down even further into the subspecialties of comprehensive planning, urban planning, site/master planning, economic planning, traffic/transportation planning, zoning and permitting, land use planning, environment planning, and historic preservation. Planners cannot be blamed for making incorrect predictions, but they do have a professional exposure if they are negligent or perform wrongful acts in the process of gathering and analyzing information and making recommendations.
Political Action Committees Liability
Political action committees (PACs) are extremely active in channeling funds to their favorite political candidates. PAC members are exposed to possible lawsuits because of the nature of their work. A claims-made liability policy insures PAC members. The coverage provided applies to defense costs, any settlement costs, and reasonable expenses. Most importantly, it insures against the exposures defined in the Federal Election Campaign Act of 1971, including its various amendments and applicable Internal Revenue Service (IRS) codes.
Polygraph Operators Professional Liability
This claims-made coverage provides professional liability against allegations of wrongful acts, errors, or omissions with respect to polygraph services rendered. It also includes personal injury liability and coverage for the costs of defense for disciplinary proceedings.
Premium Finance Companies E&O
Premium finance companies provide flexibility for insurance agents and their clients. However, a premium finance companyâ€™s negligence can result in a substantial loss, especially if the insurance company cancels a policy for nonpayment of premium and a loss occurs during the lapsed time. Errors and omissions coverage pays defense costs and damages when allegations of errors or omissions are made against the premium finance company. The premium charged is based on the number of policies financed. Deductibles may be used in some cases.
This coverage is available for commercial printing and related services, such as typesetting, binding, and collating. Errors and omissions insurance covers the insured for claims of damages alleged to have occurred due to wrongful acts, errors, and omissions in the performance of printing services for others. This coverage is not a substitute for publishers or media liability because printers do not supply any original content. It is also not intended for firms that print materials for contests, lotteries, games of chance, or promotional games.
Property Management E&O
Property managers arrange for property maintenance, leasing or renting, construction, alteration, and land development. Any real estate firm must carefully supervise these and related activities in order to avoid errors and omissions claims. While many property managers are also real estate agents, not all are, and this coverage does not extend to any real estate agents E&O.
Public Officials Liability
This coverage protects public officials elected or appointed to a legally constituted public entity. It is similar to directors and officers and board of education liability insurance. It provides direct coverage to the public official or a reimbursement to the public entity to indemnify an official, if permitted by law. It is written in the public entityâ€™s name and covers legal liability that arises from wrongful acts that occur while the public official is in office. Prospects for this coverage include park boards, city councils, sanitary districts, and air or port authorities.
This liability coverage protects publishers of newspapers, magazines and other periodicals, books, and a variety of printed materials against claims that allege defamation of character and libel. It may be issued on a full coverage basis or on a deductible basis. Each risk is underwritten carefully, based on a complete and detailed application. This coverage is also known as media liability. Premium charges are based on criteria such as circulation, prior libel experience, and editorial policies, to name a few. Most insurers refuse to cover foreign language newspapers or periodicals.
Real Estate Agents E&O
This coverage protects a real estate agency against claims for damages for financial loss due to the agencyâ€™s alleged negligence. The allegations of negligence must be related to the conduct of negotiations and business performance for others.
Real Estate Appraisers E&O
Registered Representatives (Mutual Funds) E&O
This coverage insures registered representatives of brokers/dealers against claims brought against them for financial losses caused by their alleged negligent acts, errors, or omissions when they sell mutual funds or variable annuities. Registered representatives are persons registered with the Financial Industry Regulatory Authority (FINRA) who are licensed by the appropriate state securities regulatory agency. Licensed property, casualty or life insurance agents and brokers who also have facilities to sell mutual funds and variable annuities to their clients need this coverage, in addition to their insurance agentsâ€™ errors and omissions policies because of exclusions.
Research Organizations E&O
This coverage insures against third-party claims that allege financial loss due to negligent acts, errors, and omissions in research activities. Operations involved in research activities for industrial, technological, scientific, and/or professional applications are eligible. Coverage may extend to include contingent bodily injury and property damage, copyright infringement, independent contractors, libel/slander, and invasion of privacy. Underwriters look for high-level educational achievement and practical experience.
Seed Merchants E&O
This coverage protects seed growers, seed dealers, wholesalers, seed packagers, seed brokers, and other individuals or firms that handle seeds against claims that arise from errors or omissions in germination tests, failure to germinate, mislabeling of seeds, and similar claims. Rating is based on the types of seeds handled. A distinction is made between regular garden seeds and field seeds such as corn, wheat, oats, etc. Without this important coverage, there would be gaps in the seed handlers’ products liability coverage.
Social Workers and Welfare Workers E&O
This insurance covers the liability of social workers and welfare workers while engaged in professional services for social agencies and welfare agencies. This coverage is often written in the name of the agency itself and applies to employed, qualified social and welfare workers who work for the agency.
Soil Engineers Professional Liability
This specialty engineering liability exposure is a unique and difficult-to-place architects and engineers professional liability coverage. Engineers who specialize in soil formations and properties work on building projects and analyze the soilâ€™s quality for stability and the ability of the foundations of buildings erected on the site to withstand erosion or deterioration. Soil conditions must also be analyzed for bridge, highway, and dam projects. Lawsuits brought because of building collapse due to substandard soil conditions often involve the soil engineer who first inspected soil properties.
This professional liability coverage indemnifies the insured stockbroker or stock brokerage firm for claims made against it during the policy period. The claims must arise from alleged negligent acts, errors, or omissions in the insuredâ€™s capacity as a stockbroker in the purchase or sale of securities on accounts of its customers. Coverage is available on either a per-claim/annual aggregate basis or on a single-limit annual aggregate. It is subject to a minimum deductible, usually based on the stock brokerage firmâ€™s size.
Talent Agencies E&O
This is a miscellaneous professional liability coverage that is available for talent agencies. This class of business can be difficult to place because these agencies manage talented young actors, actresses and artists who may depend heavily on the agent for advice. This coverage protects talent agencies for acts of negligence and errors and/or omissions in arranging appearances and managing their clients’ finances. Coverage may apply to personal injury claims such as libel, slander, plagiarism, and invasion of privacy.
Tattoo & Body Piercing Parlors
Tattooing is an ancient art of permanent body marking first practiced by African and Egyptian cultures. It has long been identified with soldiers and sailors of many nations. Tattooing has become increasingly popular as a unique form of self-expression. Some tattoo parlors also provide body piercing. While tattoo parlors have traditionally occupied inner-city locations some operations have expanded into suburban and rural areas. Blood-borne diseases and allergic reactions are the primary liability concerns.
Tattoo Removal Liability
Doctors and clinics that remove tattoos can purchase professional liability coverage. This coverage developed as a result of demands by adults who wanted to remove tattoos they received when they were younger. New laser technology makes removing tattoos less painful and less expensive, but the new dyes and the more colorful tattoos are making complete removal more and more difficult.
Tax Preparers E&O
This coverage is needed by tax and bookkeeping services, such as those advertised during the time of the year when income tax returns are prepared. Coverage applies to the tax preparation service and the individuals who actually prepare the tax forms for the customer and is for errors and omissions in performing calculations and completing the forms. This coverage also applies to professional advice and consultation with clients related to the preparation of tax returns or as part of the bookkeeping service.
Technology Professionals E&O
Third-Party Claims Administrators (TPA) E&O
Third-party claims administrators face legal exposure for negligent acts, errors, and omissions that may occur as they perform professional claims services for others. TPAs are employed by self-insurers, insureds with high deductible plans, and captives to handle workers compensation and commercial general liability claims. Underwriting issues presented by this class of business and coverage include the history of claims made against the TPAâ€™s directors, partners, or officers, the type of administrative services offered, gross fee income, deductible, insurance limits desired, and biographical sketches of the employees.
Timeshare/Interval Ownership Operations
Timeshare/interval ownership management companies need coverage similar to that provided to condominium associations. Nonprofit companies that are established to protect the assets of the individuals who collectively own timeshare units need the same coverage. Insurance protection for eligible risks is available for commercial property, liability, automobile, crime, inland marine, equipment breakdown, electronic data processing equipment, guest property, directors and officers liability, and umbrella liability.
Title Agents E&O
Title Insurance Agents E&O
This insurance covers title insurance agents for claims for damages alleged to have resulted from negligent acts, errors, or omissions on their part as title insurance agents in performing professional services for others. It usually excludes claims that arise from opinions of title or real estate rendered by the insured and claims that arise from defects in title either not disclosed on public records or that the insured knew about when title insurance was issued.
Tour Operators E&O
Tour operators are expected to handle all travel details without error and in a professional manner. This coverage insures the operator when errors and omissions occur and claims for damages are made.
Transfer Agents E&O
This insurance covers claims for damages that result from a transfer agent’s negligence, error, or omission in performing its duties as a transfer agent.
Travel Agents E&O
This coverage insures the insured travel agent against claims for damage that arise from alleged negligent acts, errors, and omissions committed by the insured or by others for whom the insured is legally liable. It usually extends to employees, tour guides, and tour directors who are under contract with the insured. The coverage territory is worldwide for accidents or occurrences such as canceled hotel or tour reservations, lost baggage, and misleading travel brochures. Some insurance programs include a package of coverages that includes professional liability, premises and operations liability, non-owned auto liability, and personal injury liability.
Trust Department E&O
This is insurance coverage for bank trust departments against claims for damages due to an alleged breach of duty in its administering of estates or trusts or in its managing of real or personal property. Coverage applies only if the breach is caused by a negligent act, error, or omission that is within the scope of the trust department’s duties. These duties include giving financial, economic, or investment advice or rendering investment advisory or managing service to clients.
Trustees and Fiduciaries E&O Pension, Welfare and Employee Benefit Funds
Passage of the Employee Retirement Income Security Act of 1974 (ERISA) brought about one of the most significant changes in the insurance business. In addition to providing guidelines for the federal government to regulate private pension plans, it also greatly broadened the responsibilities of trustees and fiduciaries who directly or indirectly exercise control over pensions or employee benefits that fall under the act. Certain provisions of the act established new standards for prudent action by fiduciaries. The act permits the purchasing of insurance to protect the personal liability of trustees or fiduciaries for their negligent acts, errors, or omissions. This insurance may be purchased using assets of the plan or trust to protect the plan and its fiduciaries as long as the insurer has recourse against the individual trustee.