E & O… we are talking about Errors and Omissions insurance for professionals like YOU!
E&O is malpractice insurance which provides physicians, attorneys, real estate brokers, mortgage brokers and other professional’s, coverage for claims by clients for alleged professional errors and omissions which may amount to negligence.
A very important factor within this coverage is the RETRO-ACTIVE date, or the date the new policy will start to provide coverage. Because E & O policies are written on a “Claims Made Basis”, your coverage starts on the effective date. Setting your Retro Active date in the past, will provide coverage for your prior acts in the new policy term. If you do not set your retro-active date in the past, each year you renew your policy you will not have coverage for your prior acts.
If you did not renew your E&O Policy due to retirement, you may want to consider purchasing a tail to provide coverage for an extended period of time past your policy expiration date to provide coverage for the next few years.
We at Commercial Coverage have access to the most competitive markets available, and we want to keep you informed of your insurance options, and to SAVE you Money. At Commercial Coverage WE WORK FOR YOU!
At Commercial Coverage Insurance Agency, We Work for YOU! Call us today to review your options and discuss your insurance strategy.
877-776-5900 Option 1 (for quotes)