Architects, engineering firms, graphic design businesses, and other service providers are increasingly being sued for alleged poor work quality, contract breach, or missing deadlines — and jury awards are rising. The costs of defending against a lawsuit of that type could quickly mount, even if you come out victorious in the end. But a commercial…Read more
Professional Liability Insurance
A majority of companies are leaving themselves exposed in one crucial area as they take on high-end professional services work. As more companies’ work is intangible, many firms are missing a critical element of protection for their professional services. Professional liability insurance in the past was mainly purchased by architects, accountants and lawyers, but with…Read more
Professional Liability Insurance
People often think of professional liability insurance (aka..E&O Insurance) as something only doctors and lawyers need. The truth is that anyone in any profession can be sued for making bad decisions. Standard business general liability insurance policies do not cover liability for professional mistakes. They will not cover errors that cost someone else money without…Read more
What Is E&O Insurance?
The world of insurance can be a complicated maze of initials and acronyms, which are often seemingly used to confuse the insurance buyer. Among the hodge-podge of acronyms, nicknames and “short-fors” are E & O and D & O which, when used together, have comfortably sunk into the industry lexicon as meaning anything and everything…Read more
General Liability vs. Professional Liability Insurance
A consultant recommends that a client purchase and implement software to automate certain manufacturing processes. An update to the software causes it to crash repeatedly, forcing the client to shut down its production lines for 10 days until a fix is available. The client sues the consultant for giving bad advice. A new commercial building…Read more