Professional Liability

While negatively impacted by the global pandemic, certain sectors of the product liability market, from technology to the life sciences industry, are seeing opportunities for growth.

Burns & Wilcox’s ProConstruct provides tailored professional liability coverage for contractors and designers, including valuable contract review services to help address potential litigation concerns from project delays.

Insolvency and errors & omissions risk go hand in hand and when claims aren’t settled, insureds may turn to the agent for restitution. Here are four lessons from a real case.

Insurers are seeing an increase in claims frequency and severity in the employment practices liability insurance market and are watching the trends that are continuing to put pressure on it.

“Due to the most recent few years and what we have been seeing in the media, I expect more and more claims to be filed,” says independent agent Karyn Roeling, “which will continue to make this market harden into the future.”

Company owners should consider employment practices liability coverage as essential for protecting their business beause it’s not a matter of if a claim is made, it’s a matter of when.

During the coronavirus pandemic, it is imperative that independent agents stay engaged with their clients and provide guidance on changes and developments in the professional liability market. COVID-19 sprung many changes on businesses, some good, some bad—but either way, keeping clients up to date on market conditions, risk trends and risk management options is more…

After a decade of declining rates, the professional liability market is beginning to see rates harden in certain segments including directors & officers, cyber and general liability.

The new miscellaneous professional liability product covers liability and defense costs from claims that allege errors or omissions in the rendering of professional services.

Before buying or selling an agency, thinking about errors & omissions issues beforehand will help avoid difficulties down the road.