How will E&O Insurance Change in the Near Future? The errors and omission insurance market has come under increasing pressure from the rising social inflation and “nuclear verdicts” awarded by courts. Fueling this is a growth in claims filed by aggressive plaintiffs not to mention tremendous changes brought about by the COVID-19 pandemic. For lawyers,…
Do you have the best E&O insurance policy for your law firm or title agency? Errors and omissions (E&O) insurance is a necessity for every attorney and title agent. It’s a prudent and practical way to ensure your firm or agency is protected from financial losses in case you make an error or are accused…
What are Common E & O Claims Title Agencies Face? Title agents are particularly vulnerable to lawsuits. With high-value properties, multiple details to uncover, and a long list of clients to serve, a simple mistake can have significant financial implications and potential damage to the agent’s reputation. That being said, having knowledge of the common…
How to find the best E & O Insurance Provider for Your Firm or Agency A huge part of being an attorney or title agency means having to purchase errors and omissions (E&O) insurance. However, choosing the right insurance plan can be complicated and overwhelming. There are many insurance companies on the market that…
How Errors and Omissions Insurance Protects Title Agencies Making a professional mistake, or just being accused of one, can result in legal claims or lawsuits. As a title agent, your clients expect superior performance and error-free results. That said, some clients do not hesitate to take legal action if they believe they’ve suffered financial losses.…
Why do your clients look for firms with E&O insurance? You need errors and omissions insurance (E&O) to protect you financially from legal costs or damages that may arise. As a professional, you’re expected to adhere to certain standards and best practices for your firm or agency. If a client is unsatisfied with your services,…
What to Expect if You Don’t Have an E&O Insurance Policy for Your Law Firm or Title Agency Many professionals for-go a policy and serve their clients without maintaining errors and omission (E&O) insurance. Some find the cost of malpractice insurance onerous while others believe they are not at risk of being sued because they…
What will your E&O policy not cover? Errors and omissions (E&O) insurance protects law firms and title agencies against malpractice claims. Too often, law firms, title agents, and other professionals report claims to their insurance provider only to get a rude surprise when the insurer determines that the claim is not covered. Errors and omissions…
Why do title agents need E&O insurance? Being in business involves some level of risk. Many errors made by yourself, or your employees can trigger legal action. Title agents are especially susceptible to errors and omission lawsuits because they deal with expensive property transactions. With limitless ways a real estate transaction can go wrong, there…
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…
Common E&O claims attorneys face. As an attorney, providing professional services in today’s increasingly litigious environment, you could easily be sued by a disgruntled client who may feel they’ve suffered a loss due to your actions or inactions. Whether the mistake is actual or alleged, E&O claims against attorneys can amount to large financial losses and…
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
