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Ask the Expert Q&A: Errors & Omissions Insurance

Ask the Expert Q&A: Errors & Omissions Insurance

Professional errors are a risk in any industry and can lead to severe financial loss. To learn more about the Errors and Omissions (E&O) Insurance, we spoke with Kenneth Labelle, Broker, Professional Liability, Burns & Wilcox Brokerage, Chicago, Illinois. What are the greatest risks related to Errors & Omissions? K.L.: There are hundreds of different classes of E&O business, from…

Consulting Firm Agrees to $1.75 Million Settlement in Water Treatment Plant Suit

Consulting Firm Agrees to $1.75 Million Settlement in Water Treatment Plant Suit

A consulting firm will pay $1.75 million to settle claims of breach of contract and professional negligence related to the design and construction of a large, lined pond that was part of a $13 million water treatment plant. The Community Services District of Cambria, California sued the firm, CDM Smith, in 2018, claiming the pond required repairs, redesign and modifications…

Insurance Vulnerabilities in Building & Implementing New Software Programs

Insurance Vulnerabilities in Building & Implementing New Software Programs

Software errors and omissions can cause millions of dollars in financial stress to a company. From tennis shoes to canceled flights, a simple mistake could mean the end for a business. For example, the software that ensured proper fulfillment of Air Jordan basketball shoes had a glitch that resulted in unequal distribution, costing Nike a reported $100 million in lost…

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