Corporate Scandals Impact E&O 
The current climate of corporate scandal and mistrust is having a profound effect on the professional liability insurance coverage of accountants, financial advisors and lawyers, according to brokers and underwriters specializing in these coverages.
Errors and omissions relating to financial statement disclosures and investment advice were singled out as a potent source for claims.
"The [worlds largest] accounting firms cant get insurance for the first $100 million per claim," said Ann Longmore, senior vice president and practice leader for Willis Group Holdings in New York. "These firms are self-insuring this amount through their captives."
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
