Do you REALLY know what your Errors and Omissions Coverage covers?

January 10, 2008

We continue to be concerned for adjusters and adjusting firms regarding Errors and Omissions coverage due to the increased litigation in the aftermath of Katrina where numerous adjusters and adjusting firms have been named in many lawsuits.

ClaimSmentor  has discussed this issue with Dale Moore and Michael Hale- President of Claims Professional Liability Insurance Company at www.CPLIC.net who are both members of ClaimSmentor. You will also note that NAIIA and NACA both endorse their program by providing links to their E and O program on their sites.

We have set up a Q and A session with Dale Moore -Director of Client Services for CPLIC and Michael Hale- President of CPLIC to host a Q and A session for all ClaimSmentor participants. All information was mass emailed out to our participants with the instructions for submitting your written questions about E and O coverage . They will then prepare written answers to the submitted questions we will be posting in our forums (no names will be released with the questions). This will be followed by an open Chat sessions online for our members to join in a LIVE discussion which Mr Moore and Mr Hale will moderate on January 22, 2008 at 6pm CST.

This should be informative to all participants as there are many questions everyone has such as ….Should you blindly accept the E and O coverage of the adjusting firm you are working claims for if they provide coverage or should you also have your own policy? Who covers your attorney fees if you are named in a lawsuit as many have been since Katrina? If your attorney fees are covered…is that over and above your limits or does it reduce your limits?