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...ufacturing plant. The insured, a swimming pool subcontractor, did not have coverage f...loss, and then subrogated against the pool contractor. Finding for the plainti...

... proper coverages to meet the standards of contracts required by the client. The client, a general contractor, reported a loss arising from the work of the insured. The loss resulted in discontinuation of underground utility service to a major manufacturing plant. The insured, a swimming pool subcontractor, did not have coverage for the underground property damage. The insurance carrier for the general contractor responded to the loss, and then subrogated against the pool contractor. Finding for the plaintiff-who subsequently found another insurance-related resource: his agent's E&O policy ... These cases continue to occur, and the failure to obtain the proper coverage represents over 50% of the losses reported to our E&O carriers. They even exceed the secondary category of claims source: Failure to obtain any coverage. Case No.1: Failure to Obtain Any Coverage The insured instructed the agent to review his coverages and determine if he was adequately protected from loss arising from having to move his premises after a loss. Sounds a bit like a piece of coverage called Time Element, doesn't it? The loss occurred ... Proper Coverage To maintain his business relationships with clients, the insured required general liability and other coverages. A certificate of insurance was issued indicating that the insured had all the proper coverages to meet the standards of contracts required by the client. The client, a general contractor, reported a loss arising from the work of the insured. The loss resulted in discontinuation of underground utility service to a major manufacturing plant. The insured, a swimming pool subcontractor, did not have coverage for the underground property damage. The insurance carrier for ...

... agent to find appropriate coverage for his fur-cleaning firm. Unfortunately, the agent did not obtain insurance covering the bailee exposure that comes with cleaning and storing valuable fur items. Result: Finding for the plaintiff (the insured) . Case 2: The insured, a swimming pool subcontractor, required General Liability and other coverages to maintain his business relationships with his clients (general contractors) . A Certificate of Insurance was issued to a general contractor indicating that the insured had all the coverages required by the general contractor's contract. The general ... reported a loss arising from the insured's work. The loss resulted in discontinuation of underground utility service to a major manufacturing plant. The insured did not have appropriate coverage for the underground property damages. The general contractor's insurance carrier responded to the loss, and then subrogated against the insured. The insured then sued the agent. Result: Finding for the plaintiff (the insured) . Failure to obtain proper coverage accounts for more than 50% of all losses reported to E&O carriers. A similar, but slightly different, ... is the failure to obtain requested coverage, which accounts for 20% of such claims. Here are a couple of examples: Case 3: The insured instructed his agent to review his insurance and determine whether he was adequately covered for the consequences of having to move his premises after a property-insurance loss. (Doesn't this sound a bit like Time-Element coverage?) A loss occurred, but Time-Element coverage had not been purchased, so extra-expense monies were not in place to hire the mover, lease the new location, put in the ...

...sured). Case 2: The insured, a swimming pool subcontractor, required General Liabi...ionships with his clients (general contractors). A Certificate of Insurance w...