Insurance
Jan. 13, 2011
Claims Made and Reported Error and Omissions Policies: The Basics
Occurrence policies and claims made and reported policies carry different standards for professionals. By Michael Pollak of Pollak Vida & Fisher.
A professional needs insurance coverage for malpractice liability. While a commercial general liability (CGL) policy provides coverage for liability for bodily injury and property damage caused by an accident, it excludes coverage for liability for professional services. This is an occurrence policy.
Another option is the errors and omissions (E&O) policy, which provides coverage for malpractice and related alleged wrongdoing. ...
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