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...ufacturing plant. The insured, a swimming pool subcontractor, did not have coverage f... forced to spend thousand of dollars repairing 11 vehicles left in his care. P...

...tanding next to my 20,000-gallon swimming pool; it would only take a few seconds for ...

... 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 ... theft or vandalism. He was willing to pay the higher price since he was in the business of servicing Mercedes, Rolls Royce, Jags, BMWs, and other expensive toys. Vandalism occurred over the weekend, and the insured was forced to spend thousand of dollars repairing 11 vehicles left in his care. Primary garage keepers was not in place to respond, but you can guess what was: the agency E&O policy. Failure to obtain any coverage represents 20% of the claims logged by E&O carriers. ...

... 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, ... theft or vandalism. He was willing to pay for the additional coverage since he was in the business of servicing Mercedes-Benzes, Rolls Royces, Jaguars, BMWs, and other expensive cars. Vandalism occurred one weekend, and the insured was forced to spend thousands of dollars repairing 11 vehicles left in his care. Primary Garagekeepers Liability insurance was not in place to respond to the claim, but you can guess what was: the agent's E&O policy, of course! Result: Finding for the plaintiff (the insured) . ...

...sured). Case 2: The insured, a swimming pool subcontractor, required General Liabi...orced to spend thousands of dollars repairing 11 vehicles left in his care. P...