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."

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