Errors and Omissions Coverage
Who we are and what we do:
In this ever-changing world, the overriding concern of Cunningham Group clients is the availability and affordability of insurance. Our philosophy is to reduce the incidence of claims and resolve affordability issues while improving safety, quality, and customer service. We offer quotes from every major insurer, a specialist to help you select the right partner, and outstanding customer service at all times.
Get Your E&O Quotes
Since its founding in 1947, Cunningham Group has developed products and services, both proprietary and in partnership with specialists, to assist in maintaining stability in the marketplace and keeping things consistent for our clients.
Cunningham Group’s strength is in-depth knowledge of the needs of our clients’ practices. Cunningham Group continually monitors trends and emerging technologies in policy delivery, practice efficiency, public and private reimbursement, risk management, insurance markets and insurance underwriting.
As a result of this dedication and expertise, Cunningham Group has an enviable 97 percent client retention rate in the midst of a challenging marketplace.
What is Errors and Omissions Insurance?
Also known as Legal Professional Liability (LPL) or Legal Malpractice Insurance, these policies can protect your firm from unwarranted claims, additional fees, and defense cost. Claims such as these occur when a legal professional is said to have failed to perform their duties up to the professional standards set forth. Some examples include misinterpretations of the law, bad advice, missing deadlines, conflicts of interest, etc. Additionally, some clients simply view a negative outcome as reason to file a malpractice claim against your firm. Even the most diligent businesses are vulnerable to such claims, don’t leave yourself exposed.
What Does Errors and Omissions Insurance Cover?
E&O policies can be as robust and inclusive as required for your individual needs, but at a minimum, E&O plans will protect your business from “errors and omissions” that occur while providing a professional service. Typical policy construction will cover the firm/practice and individuals. It covers the legal defense costs associated with lawsuits, damages and settlements awarded against your place of business. These policies will also provide legal defense in cases being brought against your firm/practice.
What Errors and Omissions Insurance Covers:
- Errors & Omissions*
- Financial Harm
- Personal Injury
- Subpoena Assistance
- Disciplinary Proceedings
- Additional Defense Limits
Who Needs Errors and Omissions Insurance?
There is a wide variety of firms and businesses that should have E&O insurance. Depending on your state, some professional practices are required to carry insurance and some businesses require insurance before they will work with you.
Below is a comprehensive list of professionals that should consider getting coverage:
- Attorneys and law firms
- Medical offices and healthcare facilities
- Marketing firms
- Barbershops and hair salons
- Printing and publishing companies
- Veterinary offices and pet groomers
- Real estate agencies
- Architects
- Accountants and financial institutions, such as accounting houses
and brokerage firms - Engineers and engineering firms
- Advertising and media firms
- Teachers and educators in private practice
- Educational businesses, like schools and colleges
- Cultural organizations, including museums and galleries
How Much Does Errors and Omissions Insurance Cost?
Now for the question everyone wants to know, how much does it cost? First things first, the most cost-effective plans aren’t always better when it comes to E&O insurance coverage. Given the wide range of cost associated with claims, it is imperative to ensure you chose the correct insurance provider and coverage to fit your specific needs. Every practice or firm is different and that is why Cunningham Group has been in this sector for 75 years and consistently retaining our clients. We are here to protect you, so you can focus on what is important.
Below are the main components that can affect the cost of your LBL insurance:
- Practice Size
- Prior Claims
- Step Rating
- Areas Of Practice
- Location