Professional Liability

As the frequency and severity of product liability claims continue to rise, the product liability market is facing some challenges.

The new policy addresses the evolving needs of the legal community as it relates to malpractice exposures.

At a time when agencies are feeling the squeeze from increasing operational costs and companies cutting commissions, solidifying relationships will help retain clients and protect income.

The agency errors & omissions environment has become more complicated, and the result has led to several implications for independent agencies.

Agency errors & omissions coverage has been impacted by the hard market, with premiums increasing over the past few years, and difficulty in replacing waves of retirees with younger workers.

Executive Risk Insurance products on surplus lines paper provides coverage to a broader range of industries including health care, education, private equity (PE), and more.

The increasing number of carrier rating downgrades could present an errors & omissions exposure to independent agents if not properly managed.

A U.S.-based trucking client’s truck and cargo were stolen in Canada, but the carrier denied the claim due to a territorial exclusion. The loss happened “before the insured had a chance to read the policy.”

The new liability policy form includes built-in subpoena coverage and pre-claim assistance, as well as an enhanced ERISA exclusion.

​One of the largest errors & omissions exposures for insurance agents and agencies occurs during the placement of personal or commercial auto policies.