Search
 

Location, Location, Location

While architects, engineers, lawyers, consultants, and other professionals are finding policies at very affordable rates, those in the financial services and real estate arenas are encountering tight capacity, exclusions, and high prices.

By Tara Harvey Bramwell, Michele Morrison | Updated on August 31, 2010

The professional liability (PL) market in Florida, like most of the United States, remains soft for many industries. Generally, agents and brokers seeking this coverage on behalf of their customers are finding low rates, plenty of capacity, and an increasing number of insurance carriers willing to write it. Also, most agents and brokers are able to offer their customers proposals with higher limits at more competitive pricing and with broader coverage features than previously available.

Architects, engineers, lawyers, consultants, and other professionals are finding their PL policies, also called Errors & Omissions (E&O) coverage, at very affordable rates. In some cases, the nature of what would be considered covered — protection against loss from a claim of alleged negligent acts, errors or omissions in the performance of professional services — has expanded. For example, some Miscellaneous PL policy forms have added privacy cover and other features that in 2008-2009 would have been obtainable only through a stand-alone, specialty policy for most industries.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.