The most common wording in professional liability policies — inclusion of “for a fee” in the definition of professional services — can render a policy useless when your insured performs pro bono or other non-fee services.
Business relationships are all about contracts, and certain breaches of contracted expectations give rise to coverage under an E&O insurance policy.
Investment advisors and money managers frequently forego professional liability coverage. Now that some notable funds have imploded, perhaps they’ll see why they need coverage. With luck, they’ll bestir themselves to purchase it.
Insolvency exclusion in wholesaler/MGU policy goes too far. Excludes claims arising from agent’s inability to pay. Jeopardizes policyholder in the case of any cancellations for non-payment.
Knowledge Knuggets, 10/16-11/16/2008 Knowledge Knuggets for 10/16 – 11/6 have been about real estate classes of business. I previously posted one regarding inspectors and have combined both these topics into one over-arching post regarding real estate exposures and market status. Happy reading: The Wild and Woolly World of Real Estate….. Almost every real estate-related profession […]