ERRORS & OMISSIONS (E&O)

Many firms which provide services to others for a fee have an errors and omissions (E&O) exposure. Suits brought by clients or by other third parties can allege that the service firm failed to take reasonable care in providing the contracted services. In many cases, the client of a service firm has engaged the service provider in reliance upon the belief that the service provider is an expert in its field.

Depending upon the activities of an insured, the policy can be amended to accommodate the particular exposure of a given insured. For instance, intellectual property coverage or contingent BI-PD coverage can be granted, or the exclusion of services to affiliates can be reworked to allow for coverage in cases where the insured has a minor interest in a client.

Cincinnati Intermediaries Common Classes of Business:

  • Billing Services
  • Consultants
  • Franchisors
  • Insurance Agents & Brokers
  • Investment Advisors
  • Media Liability (publishers, broadcaster, etc)
  • Real Estate Risks
  • Securities Brokers
  • Staffing Firms
  • Technology
  • Title Agents
INFORMATION NEEDED FOR COVERAGE PROPOSAL
  • An executed application
  • A sample client contract
  • Biographical information on management
  • Services brochures