Professional Liability Insurance & Timely Notice

Most E&O Insurance policies (E&O, D&O, EPL, Cyber) are written on a claims made basis and require timely notice of claims. Clients should understand this, and make sure any demand is immediately noticed to their insurer based on the terms of the policy. A little communication and documentation can go a long ways to protecting E&O insurance benefits: A title agency received multiple notices from a title insurer of a problem with a title search and a resulting claim, and provided notice that the insurer would hold the title agent responsible for any losses. Based on a strong working relationship with the insurer, the title agent believed the notices were mere formalities. Approximately five (5) years later, the title insurer... Read more →