A professional in any field can be sued for an actual or alleged error or omission. Their personal fortune is on the line when they are named in a professional liability lawsuit, and they may not have been responsible for the alleged mistake. In other words, an individual could not hide behind the corporate veil for an error or omission.
E&O claims do not tend to be frequent, but they can be severe. For this reason, professionals might not know they have the exposure. Having insurance to cover E&O can also be used for the professional’s marketing efforts.
AJ Wayne’s specialty is providing Errors and Omissions Coverage for various classes of professionals. The list of classes we have entertained is endless. We have more than 40 different potential markets that will consider Miscellaneous Professional Liability Insurance. Our facilities can do the following:
Extremely wide range of classes considered (too extensive to list in full)
Limits from $100,000 to $10,000,000 or more
Minimum Premium: $750
Defense in addition to the limits of liability available
Contingent bodily injury & property damage available
Special expertise to properly treat E&O exposure
Tailored coverages to meet requirements of specific occupations
Markets “A” Rated by A.M. Best Company
Group or association programs
Third party discrimination coverage available
Defense for fee disputes available
Full prior acts available
Excess limits available
Extremely quick turnaround
First Dollar defense available
These are some “sample classes” we write under Miscellaneous Errors & Omissions (we can do many more classes than what is listed below):
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