Don’t make these E&O errors
Don’t make these E&O errors
At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready?Insufficient or incorrect E&O coverage could financially ruin your firm one minute from normal. Following are a few “don’ts” regarding your E&O coverage following an incident:
- Don’t alter or make changes to records pertinent to a claim.
- Don’t discuss an issue with anyone other than your firm’s counsel or your trusted broker.
- Don’t permit the inspection, copying or removal of any records without first discussing it with your trusted broker
- Don’t admit liability or commit to a payment. Such an admission could limit your ability to trigger insurance coverage..
- Don’t assume a potential E&O claim will just go away.
To learn more about your firm’s professional liability risk, and to discuss if your E&O coverage will protect it one minute from normal, please contact your relationship manager at KMRD Partners. He/she can provide advice regarding your firm’s situation regarding this critical coverage.
KMRD reduces the overall cost of risk for clients by producing a greater value for each insurance dollar spent, while utilizing an enterprise risk management approach to engineer the optimal solution. The firm’s diagnostic process is supported by its unique collaborative technology, KMRD XCHANGE ®
We are dedicated to anticipating risk and helping firms recover from unplanned events that wait on the other side of one minute from normal.
To identify and correct coverage and service gaps in your business insurance risk profiles contact us at contactus@kmrdpartners.com before one minute from normal strikes.
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Need to deliver better risk management results for your company? Schedule a brief demo of our risk management system, KMRD XChange.
