WHY YOU SHOULD KNOW ABOUT E & O CLAIMS
Professional malpractice lawsuits can have a devastating impact on lawyers, doctors, accountants, architects, and other licensed professionals. These disputes can take years to resolve, potentially damaging a professional's reputation and standing in the community. Errors and omissions (E&O) insurance offers protection from licensing board investigations and third-party lawsuits, typically covering judgments, settlements, and defense costs.
At Murray Law Group, our skilled attorneys are well-equipped to handle claims disputes involving E&O insurance policies. We provide legal services to professional service providers and to individual professionals and consultants.
NAVIGATING COMPLEX COVERAGE ISSUES AND DISPUTES
Most E&O policies are "claims made" policies, meaning claims must be filed against the policyholder during the policy term or an extended reporting period. Some policies require that the claim be filed and reported to the insurer within these timeframes. Our attorneys are intimately familiar with the intricate terms associated with claims-made insurance policies, and when an insurance company denies E&O coverage due to alleged timing or reporting failures, we are prepared to challenge their position.
Understanding not only the law but also the operations of insurance companies, we are ready to do everything possible to ensure our clients receive the full coverage and protection they deserve.
WHY DO INSURANCE COMPANIES DENY E & O CLAIMS?
An insurance company may attempt to deny coverage based on exclusions in the E&O policy, such as alleging the professional's actions were "intentional" or "illegal" and therefore not covered. They may also reject a claim by asserting that the loss does not fall within the policy's definition of "damages," or argue that regulatory investigations do not constitute a "claim" triggering coverage.
No matter the reason for the insurance company's coverage denial, our lawyers are prepared to take all necessary steps to secure complete coverage for our clients. Through negotiations, mediation, or litigation, our primary goal is to achieve a fair and favorable outcome for our clients.
Creating Positive Outcomes
PROFESSIONAL ERRORS AND OMISSIONS INSURANCE CLAIM FAQS
Despite accepting premiums and issuing policies, it is not uncommon for insurance companies in Florida to deny coverage for claims. There are different reasons an insurance company may give for denying your claim, some may be valid while others are not. An insurance company may be engaging in bad faith insurance practices when denying valid claims — especially if they are denying claims in an effort to increase profits to the detriment of their policyholders.
Below is a list of reasons your insurance company may give you for denying your claim:
- The claim was not filed timely
- Lack of property insurance levels
- Insufficient evidence to support payments
- Lack of documentation provided
- Policy exclusions limit coverage
- Unpaid policy premiums
Although you may not have the ability to stop an insurance company from denying your claim outright, you can take steps to minimize the chances of a claim denial if you do the following:
- File a claim right after the incident
- Request a copy of your policy
- Comply with the duties after loss section of the policy
- Provide the documents and records requested
- Take steps to protect the property and mitigate damage
- Pay your premiums on time
- Keep records of all repair costs and expenses incurred
- Know what your policy covers and excludes
- Engage professionals to represent your interests
Several factors are essential in selecting an insurance claim attorney. When choosing an attorney, you should hire someone who has experience and a good reputation in the legal community. Review online reviews to see what other clients are saying about the attorney’s services. You should consider the experience and expertise of the attorney handling the claim and how many trials and/or arbitrations the attorney has handled. All these factors are crucial to consider when hiring an attorney. Choose an attorney after careful consideration and after speaking with the actual attorney who will be assisting you.
Murray Law Group attorneys work most insurance claim cases on a contingency fee basis. This means there is no payment owed for attorney’s fees or costs to you unless we win your case. We will hire industry experts and engage the professionals necessary to build the most convincing case for you. Murray Law Group understands that in-depth expert analyses can make or break your insurance claim and that is why we work with the best in the industry.
CONTACT MURRAY LAW GROUP TODAY FOR A FREE CONSULTATION
If you are dealing with a coverage denial or delay involving an E&O insurance policy or claim, the attorneys at Murray Law Group can assist. To arrange a consultation with an experienced insurance coverage lawyer, please contact our offices at 1-855-269-4317 or by email.