Inadequate limits are an all-too-common claim in independent insurance agency E&O. And with inflation today outstripping even the inflation guards inserted on some policies, these claims are becoming more frequent.
Berkley Design Professional’s innovative approach to professional liability insurance addresses the current business litigation climate and provides a solution for both design firms and owners or developers.
The new structure provides a dedicated limit for every project a firm works on after the retroactive date specified in the professional liability policy—even if the policy aggregate limit is exhausted after a claim.
Want to avoid getting a letter from your E&O carrier informing you of an uncovered, excess exposure? When selecting E&O coverage limits, ask—and honestly answer—these questions.
Independent agents who receive requests for higher limits often struggle with a limited marketplace that offers standalone excess coverage—as well as a small number of willing commercial carriers with which they may not be approved. Physician professional