The Difference Between Occurrence and Claims Made Policies

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Professional liability insurance protects professionals such as attorneys, accountants and consultants. Most professional liability policies only cover economic or financial losses that third parties suffer. Generally, these policies do not cover bodily injury and property damage claims, although there are some exceptions (for example, physicians, engineers and architects). The most common professional liability insurance is errors and omissions insurance (E&O).

A professional liability policy is structured based on the coverage trigger. This can either be occurrence or claims made. Here are the differences between Occurrence and Claims Made policies that you should know about. 

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Topics: Claims Made Policies, Occurrence Policies, Professional Liability

How Project-Specific PLI & OPPI Protect You from Risk

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As an Owner or Developer embarking on a new construction project, you must plan for a tremendous amount of risks. Some of this risk exposure is a direct result of the professionals and designers you will hire to help complete your project. Let’s explore two options that can offer protection from this third-party risk.

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Topics: Commercial Insurance, OPPI, Risk Protection, Professional Liability

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