Professional firms, such as law firms and accounting firms, require special attention when placing their executive perils coverages, including employment practices liability and directors and officers liability insurance.
Often agents place these important coverages as if their clients were manufacturers, retailers or other similar commercial risks. Professional firms, however, have numerous exposures that are unique to the service industry and require coverages to match the exposures.
For decades, EPLI, D&O insurance, errors and omissions insurance, and crime policies have been designed for traditional corporations–and the definitions and other clauses are tailored to companies that are incorporated.
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