errorsomissionsCommitting a mistake or an error is nothing new as this is essentially part of what makes us humans. Even so, if the mistake committed is part of our job, the liability falls on us as there are usually consequences that results from such errors. If the mistake fall on a professional or business setting which involves finances and investments, the consequences may be huge. Of course, when this happens, the person involved and possibly the colleagues involved will be facing lawsuits from unhappy clients.

Real estate is a very serious industry as professional working in this particular sector has certain duties and obligations and thus faces the risk of error or omission in many of their deals. When such is committed, there is a potential to cause financial harm to another. Their liability towards the mistake they make means they will likely be subjected to lawsuits. Real estate is vulnerable to downfalls and agents working for investors should be knowledgeable of the market. If financial losses are incurred, the agents themselves risk of facing lawsuits.

When you handle or deal with finances, it is vital that you properly insure yourself with Errors and Omissions Insurance. Having errors and omissions insurance coverage means you will be protected from loss due to lawsuits filed against you that is related with a mistake or error you have made relating to your job’s responsibilities. In other words, if you are properly insured and the terms of the lawsuit falls under your E&O Insurance Policy, then the insurance company will pay for all the expenses incurred within the legal actions in your defense.

Of course, the main advantage of properly insuring yourself with Errors and Omissions Insurance is that claims that are filed under error, omission, or neglect of duties of the insured that occurs within the policy period are covered. All expenses involving the legal actions shall receive payments. In real estate, the exclusions to E&O are: claims resulting from dishonest act or possibly criminal act committee by the insured; claims involving polluted property; claims that result from damage to another’s property; and claims by the insured doing bodily harm or death towards another.

As with any other type of insurance policies, Errors and Omissions Insurance coverage has liability limits. Of course, the limitation depends on the E&O insurance policy acquired by the insured from the insurance company. In fact, some insurance companies allow more inclusions than others over certain policies. For this reason, if you are involved in such a profession where Errors and Omission Insurance will prove useful to you, it will be in your best interest to acquire one as this will essentially be your security measure against lawsuits. Lawsuits happen every now and then so surely you would not want to get into a lawsuit without any form of protection.

May 29, 2015

Errors and Omissions Insurance – What is it for?

errorsomissionsCommitting a mistake or an error is nothing new as this is essentially part of what makes us humans. Even so, if the mistake committed is part of our job, the liability falls on us as there are usually consequences that results from such errors. If the mistake fall on a professional or business setting which involves finances and investments, the consequences may be huge. Of course, when this happens, the person involved and possibly the colleagues involved will be facing lawsuits from unhappy clients.

Real estate is a very serious industry as professional working in this particular sector has certain duties and obligations and thus faces the risk of error or omission in many of their deals. When such is committed, there is a potential to cause financial harm to another. Their liability towards the mistake they make means they will likely be subjected to lawsuits. Real estate is vulnerable to downfalls and agents working for investors should be knowledgeable of the market. If financial losses are incurred, the agents themselves risk of facing lawsuits.

When you handle or deal with finances, it is vital that you properly insure yourself with Errors and Omissions Insurance. Having errors and omissions insurance coverage means you will be protected from loss due to lawsuits filed against you that is related with a mistake or error you have made relating to your job’s responsibilities. In other words, if you are properly insured and the terms of the lawsuit falls under your E&O Insurance Policy, then the insurance company will pay for all the expenses incurred within the legal actions in your defense.

Of course, the main advantage of properly insuring yourself with Errors and Omissions Insurance is that claims that are filed under error, omission, or neglect of duties of the insured that occurs within the policy period are covered. All expenses involving the legal actions shall receive payments. In real estate, the exclusions to E&O are: claims resulting from dishonest act or possibly criminal act committee by the insured; claims involving polluted property; claims that result from damage to another’s property; and claims by the insured doing bodily harm or death towards another.

As with any other type of insurance policies, Errors and Omissions Insurance coverage has liability limits. Of course, the limitation depends on the E&O insurance policy acquired by the insured from the insurance company. In fact, some insurance companies allow more inclusions than others over certain policies. For this reason, if you are involved in such a profession where Errors and Omission Insurance will prove useful to you, it will be in your best interest to acquire one as this will essentially be your security measure against lawsuits. Lawsuits happen every now and then so surely you would not want to get into a lawsuit without any form of protection.…

February 21, 2015

Oil And Gas Insurance Brokers Calgary: Did You Find The Right One?

oilfieldcalgaryHow do you know if you are talking with the right oil and gas insurance brokers Calgary? How sure are you that they can provide you with the help that you need? Indeed, the thought of finding the right insurance policy that will cover all your needs can be a daunting task. Not only are there a lot of options to choose from, but the fact that each one looks as closely as the last one your checked can really make it difficult to choose only one.

But how do others know that they picked the right one and paid for the one that’s worth their money? Is there some magic way of saying that you have found yourself a trusted broker who really helps you and not only aims at stripping you off with some cash? The truth is that there is no need for magic to get to do all these. All you need is a really faith in yourself and this list of must-know about brokers in Calgary.

  • First, you must make sure that you are only speaking with insurance brokers who are licensed. Without license, no one could ever tell you that this option is better than the last one offered to you, no matter how affordable it may seem.
  • Second, you have to keep in mind that your goal is to find insurance that will get you the oil and gas delivered to where it should be. It doesn’t have to come cheap or they never really do. It is after all a business investment, so you couldn’t expect it to come cheap.
  • Third, you must keep in mind that they will try to talk you into buying and at some point you will be convinced, but you have got to ask questions. You should know more about the services that they offer and the extent of the coverage they provide. All these will help you determine whether they are the right one to trust or not.
  • Lastly, always remember that buying the insurance is like a buying investment. You should be able to get the most out of it. At a certain level, it should be able to give you the kind of security that it promises to give. You have to make sure that they won’t falter in providing you with only that.