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Errors & Omissions - Miscellaneous Professional Firms!
Errors & Omissions, otherwise know as Professional Liability.
Byrne - Kim offers Errors and Omissions (E&O) Liability Insurance coverage for dozens of classes of
professionals, featuring specially tailored coverages to meet the distinct needs of individual
professions.
Unsure about E&O Liability (Miscellaneous Professional Liability), wondering if this is what your
company needs?
Does your private company:
If the answer to any of these questions is yes, your company may face significant professional
liability exposure.
What is Miscellaneous Professional Liability?
Miscellaneous professional liability—otherwise know as errors and omissions (E&O) liability can
occur from errors or omissions in the performance of professional services.
Businesses that perform professional services for others can make mistakes, miss a critical piece of
information, misstate a fact, design a faulty buildings, overlook a critical piece of information, etc.
This can result in a law suite by their clients over allegations such as:
Errors & Omissions, otherwise know as Professional Liability.
Byrne - Kim offers Errors and Omissions (E&O) Liability Insurance coverage for dozens of classes of
professionals, featuring specially tailored coverages to meet the distinct needs of individual
professions.
Unsure about E&O Liability (Miscellaneous Professional Liability), wondering if this is what your
company needs?
Does your private company:
- Provide service(s) for others for a fee?
- Sign service contracts requiring it to carry professional liability insurance?
- Sign service contracts drafted by clients in which it accepts the liability of those clients?
- Have clients that incorporate their services into the products or services they provide to
others?
If the answer to any of these questions is yes, your company may face significant professional
liability exposure.
What is Miscellaneous Professional Liability?
Miscellaneous professional liability—otherwise know as errors and omissions (E&O) liability can
occur from errors or omissions in the performance of professional services.
Businesses that perform professional services for others can make mistakes, miss a critical piece of
information, misstate a fact, design a faulty buildings, overlook a critical piece of information, etc.
This can result in a law suite by their clients over allegations such as:
- Error, omission, or negligence in providing a service.
- Failure to provide a service.
- Fraud. example: (theft retirement funds, mis allocation)
- Improper documentation.
- Mismanagement.
- Misrepresentation of facts.
- Nondisclosure.
- Violations of state and federal law. example (securities violations, violation of privacy, etc.).
- Many other allegations.
Why your private company may require Miscellaneous Professional Liability?
A professional liability lawsuit can be triggered by almost anyone who is “touched” by the professional service. For example, the an Architect designs a
building that later collapses and can injure hundreds of people, thus resulting in an extremely broad professional liability exposure. The broader the
exposure, the greater the need for insurance protection.
Another important thing to remember: A company doesn’t have to do anything wrong to be sued. In fact, a large proportion of lawsuits are
meritless, and even so, such lawsuits must be defended, and that can be costly tot he company, even devastating. Professional liability insurance covers
these legal defense costs.
A professional liability lawsuit can be triggered by almost anyone who is “touched” by the professional service. For example, the an Architect designs a
building that later collapses and can injure hundreds of people, thus resulting in an extremely broad professional liability exposure. The broader the
exposure, the greater the need for insurance protection.
Another important thing to remember: A company doesn’t have to do anything wrong to be sued. In fact, a large proportion of lawsuits are
meritless, and even so, such lawsuits must be defended, and that can be costly tot he company, even devastating. Professional liability insurance covers
these legal defense costs.
Coverage Options
Business Interruption
Bonds
Commercial Property
Cyber Liability
Directors & Officers Liability
Employee Benefits Liability
Employee Dishonesty
Employment Practices Liability
Fiduciary Liability
General Liability
E&O Misc Professional Liability
Umbrella/Excess Coverage
Workers Compensation
Business Interruption
Bonds
Commercial Property
Cyber Liability
Directors & Officers Liability
Employee Benefits Liability
Employee Dishonesty
Employment Practices Liability
Fiduciary Liability
General Liability
E&O Misc Professional Liability
Umbrella/Excess Coverage
Workers Compensation
Contact us today!
Tel. (949) 249-2540
Or use our Contact Us form to
submit an email.
Tel. (949) 249-2540
Or use our Contact Us form to
submit an email.
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