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…
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,…