Miscellaneous Errors and Omissions Coverage

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Historically, professional liability coverage was needed only for the ?learned? professions, such as physicians, lawyers, engineers or accountants. Today, many more types of insureds may be unwittingly rendering professional services in the eyes of the law, and even worse in the opinion of CGL claims adjusters. One test often used is whether the insured is subject to state licensing, or oversight by a professional association.

Compounding this situation, many general liability classifications result in the addition of a professional liability exclusion to the standard CGL policy. Even without this exclusion, many professional liability claims are unlikely to fall within the traditional CGL definitions of bodily injury, property damage or personal & advertising injury, and will not trigger coverage.

Miscellaneous E&O coverage fills this coverage gap, by protecting against liability incurred from committing an error or omission in the performance of a professional duty. Trinity E&S can offer this coverage for hundreds of classes, with competitive coverage features, and often at attractive rates.

Coverage Highlights:

Claims made coverage
Can be packaged with General Liability for many classes
Coverage trigger for an incident likely to result in a claim
Pay on behalf basis with the insurer having the duty to defend
Bi-lateral extended reporting period for up to three years
Deductible credits for claims settled prior to mediation or litigation
Supplementary Payments
- Disciplinary proceedings - up to $25,000
- Loss of Earnings and Expense Reimbursement - up to $10,000
BI/PD exclusion carve-backs
Network Security/Privacy extensions
Specific coverage forms to address the needs of many professions
Risk management resources including hotlines, guides, and articles
Limits up to $10,000,000
Minimum premium: $1,000

Class Examples - any firm with a service exposure to a third party including:

Consulting Services - communications, management, energy, human resources, real estate, research & development support, security, transportation and many more
Insurance Support Services - premium finance companies, risk managers, auditors, third party administrators and structured settlement firms
Property Related Services - real estate agents, title / escrow services, property managers, mortgage brokers and many more
Inspection Services - home inspectors, code compliance, insurance inspections, safety and security inspections
Scientific services - research & development, testing labs, regulatory compliance services
All types of technology firms, or firms with tech/network security exposures
Associations and Professional Bodies
And many more

Applications:

Miscelleneous E&O

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