Professional Risks, Errors and Omissions (or Miscellaneous) business is, by its very nature, difficult to define. If a company or individual is in the business of selling their knowledge or services then the prospect of a complaint or an allegation of negligence can be very real. Even if such allegations are baseless, it can be a very stressful and costly process to defend. Having an errors and omissions policy provides peace of mind, both for the insured and their clients.
In recent years there has been a marked growth in the number and variety of service industries that would fall into this category. Anyone who offers advice or consultancy for a fee is deemed to be a professional and therefore exposed to potential claims for negligence. At Tokio Marine HCC, we have insured companies as diverse as dog psychologists, genealogists and life coaches as well as the more established miscellaneous classes such as bailiffs, event organisers and recruitment consultants. Indeed, we will consider almost every risk from agronomists through to zoologists.
If you are unsure as to whether or not we will consider a risk please contact one of our underwriters.