What is the Hammer Clause? The hammer clause is a common provision in errors and omission (E&O) insurance. An insured is sued by a client for an error when providing professional services. After careful analysis of the allegations, the insurer recommends an offer to settle the claim. The insured, however, chooses not to settle the…
What are some common E & O claims? Being an attorney comes with its own set of risks. The risk inherent is increased by the fact that you rely on other attorneys and support staff, work with counsel outside your firm, refer cases, and accept referrals. Every case you handle will present a potential legal…
Errors and Omissions insurance (E&O) is a unique form of professional liability insurance designed to protect law firms and title agencies against damages or the costs of defending lawsuits arising from errors or omissions in the performance of professional duties. An E&O policy often covers court costs, attorney fees, administrative costs for handling case files,…
What is E&O Insurance? Your Ultimate Guide to Errors and Omissions Insurance It’s designed to provide coverage or shield lawyers from financial losses arising from lawsuits instituted by clients for perceived errors stemming from their practice. A liability policy pays on behalf of the “Named Insured.” Read on to find out what is E&O insurance,…
Legal firms need to have a professional liability policy in place. Also known as Errors & Omissions (E&O) insurance, this type of coverage protects your firm if it is found negligent when providing legal services. Unintentional mistakes can happen at any time and expose your firm to potential lawsuits from clients. Some common causes of…
Attorneys handling property transfer cases have a fiduciary responsibility to the title agent, escrow/closing agent, abstractor, title examiner, or notary public
Errors and Omissions Insurance (E&O), also referred to as Professional Liability Insurance, provides a safety net for law firms. This insurance policy helps protect
