Accountants Errors and Omissions (E&O)
Everybody makes mistakes. But sometimes those mistakes can end up being costly. When the loss of a client is brought to court and an auditor is partly at fault, they can be on the hook compensating the damage. Even if the auditor is only found to be 5% at fault, and the second party is found to be 95% but is insolvent, the auditor is responsible for paying back the entire loss.
Burns & Wilcox, a leader in excess and surplus insurance, can connect you with Accountants Error and Omission (E&O) coverage. By partnering with top insurers, Burns & Wilcox can provide access to the most comprehensive and relevant coverage for accountants in the event they make a mistake that leads to financial or reputational loss for their clients.
Coverage Details and Features
Details
- Various limit options available
- $10M primary capacity
- Broad definition of professional services
- Claims-made coverage
- Duty to defend policy
- Worldwide coverage
- Standard and non-standard capabilities
- Deductible starting at $1,000
- Deductible credit for use of mediation or non-binding arbitration
- Bilateral tail
- ERP includes options for death, disability, and retirement
- Risk management tools
Features
- Admitted & non-admitted capabilities
- Various limit & deductible options
- $10M primary capacity & excess capabilities
- Worldwide coverage available
- Claims made – Duty to Defend policy
- First dollar defense available
- Broad definition of professional services
- Risk management resources for policy holders
- Multiple year policy options
- Deductible credit for use of mediation
- Extended reporting period options for:
- Retirement
- Death
- Disability
Optional Enhancements
- Multi-year policy option
- Excess coverage
- Aggregate deductible
- First dollar defense
- Additional limit for claims expense
- Employment Practices Liability Defense Coverage
- Non-profit Directors & Officers Defense Coverage
- Subpoena Expense Coverage
- State Licensing Board Proceeding Expense Coverage
- Loss of Earnings Coverage
- Real Estate Agent Professional Liability
- Insurance Agent Professional Liability
Questions to Ask
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