A malpractice lawsuit can be disastrous for lawyers, doctors, accountants, architects and other licensed professionals. These types of suits often take years to resolve and have the potential to destroy a professional’s reputation and good standing in the community. Professional malpractice insurance, also known as errors and omissions (E&O) insurance, provides professionals with protection from licensing board investigations and third-party lawsuits over alleged errors and omissions in their work. These insurance products typically cover judgments and settlements along with the costs of defending against the suit.
The attorneys at Ver Ploeg & Lumpkin are well positioned to handle claims disputes involving errors and omissions policies. We represent a broad range of clients who provide professional services, from large law firms and accounting practices, to individual professionals and consultants. Our lawyers are well recognized for their depth of experience and commitment to securing maximum E&O insurance protection for our clients.
Most E&O policies are “claims made” policies. This means that claims must be made against the policyholder during the policy term or during and extended reporting period for the claim to be covered by the insurance policy. Some E&O policies require that the claim be made against the policy holder and reported to the insurer during the policy period or an applicable extended reporting period. The attorneys at our firm are very familiar with complex terms and conditions associated with claims-made insurance policies. When an insurance company denies E&O coverage asserting that the policyholder failed to adhere to timing and reporting requirements, our lawyers are well equipped to challenge the company’s position. We not only understand the law, we know how insurance companies operate and are prepared to do everything we can to ensure that our clients receive the full coverage and protection they are entitled to.
An insurance company may also try to deny coverage on the grounds that the professional’s actions were excluded under the terms of the E&O policy. For instance, the carrier may allege that the activities were “intentional” or “illegal” and therefore are not covered events under the insurance product. The insurance carrier may also reject a claim by asserting that the type of loss alleged in the claim does not fall within the insurance policy’s definition of “damages.” Additionally, when a professional is subject to regulatory investigations, the insurance company may assert that such actions do not constitute a “claim” triggering policy coverage.
Regardless of the reasons for the insurance company’s coverage denial, our lawyers are prepared to take all steps necessary to ensure that the insurance company provides full coverage to our clients. Whether we are working to negotiate a settlement, mediating a claim or litigating a case in court, our goal is to achieve a fair and favorable outcome for our client.
If you are dealing with a coverage denial or delay involving an E&O insurance policy, the attorneys at Ver Ploeg & Lumpkin are well situated to handle the matter. From offices in Miami and Orlando, our attorneys represent clients throughout Florida and across the nation. To arrange a consultation with an experienced Miami insurance coverage lawyer, please contact our offices at 305-577-3996 or by email.