[기업보험] E&O Insurance

E&O Insurance(불량보험, 태만보험, 이엔오보험, 에러보험, 누락보험)

상담문의 02 704 6398

*E&O 적용 세부 분야

  세부 분야는 아래 버튼을 클릭해 주세요.

 

*General Liability

*Gaps in General Liability Coverage

  In the definition of property damage, intangible property is not included.

  Claims arising out of damage to and/or loss of use of intangible property are not covered.

  The impaired property exclusion excludes property damage to property

  that has not been physically injured arising out of a defect in your product or a delay or failure to perform a   contract or agreement.

*Property Damage means:

  “… physical injury to tangible property including the resulting loss of use of that property;…

  loss of use of tangible property that is not physically injured…

   –Tangible property does not include any software, data or other information that is in electronic form.”

*Damage to Impaired Property Exclusion

  BUT…what constitutes insured “property damage” is modified by the Impaired Property exclusion:

  This insurance does not apply to property damage to:

    –impaired property; or

    –property that has not been physically injured;

  arising out of any:

    –defect, deficiency, inadequacy, or dangerous condition in your product or your work; or

    –delay or failure by you or anyone acting on your behalf to perform a contract or agreement in accordance
      with its terms and conditions.

  This exclusion does not apply to the loss of use of other tangible property resulting from sudden and
  accidental physical injury  to your product or your work, after it has been put to its intended use.

*Impaired Property means:

 Tangible property, other than your product or your work, that cannot be used or is less useful because:

  –it incorporates your product or your work that is known or thought to be defective, deficient,
    inadequate or dangerous; or

  –you have failed to fulfill the terms or conditions of a contract or agreement;

    if such property can be restored to use by:

  –the repair, replacement, adjustment or removal of your product or your work; or

  –your fulfilling the terms or conditions of the contract or agreement.

*Errors & Omissions 

*Errors & Omissions Coverage Grant

  We will pay loss by reason of liability imposed by law for financial injury caused by a wrongful act.
  Coverage applies only to such financial injury resulting from:

    A. a defect, deficiency, inadequacy or dangerous condition in:
        1.your product; or
        2.your service; or
    B. the failure:
        1. of your product to perform; or
        2. to perform your service;
  in accordance with the terms and conditions of a contract or agreement.


*Dissecting the E&O Form

Terms to know:
   Loss
       Financial Injury
          Wrongful Act
             Your Product
                Your Service

*Definition of Loss means:
  damages that the insured becomes legally obligated to pay; and
  claim adjustment expenses related to a claim we investigate or settle, or a suit, to which this insurance
  applies, that seeks damages…


*Wrongful Act means:

an error, unintentional omission or negligent act.
includes all related wrongful acts and all series of continuous, repeated or related wrongful acts.

*Financial Injury means:

  economic injury sustained by a person or organization because their property, including software, data and  
  other information that is in electronic form:
    • cannot be used; or
    • is less useful


*Your Product means:
  • Goods or products (other than real property) manufactured, sold, handled, or distributed by you…
  • Containers (other than vehicles) materials, parts or equipment furnished in connection with such goods or
    products or your service
  • Including:
    – Reps and warranties made with respect to the fitness, performance, quality or use of your product;
    – The providing of or failure to provide instructions or warnings in connection with your product; and
    – Your service performed in connection with your product.

*Your Service means:
  • Services (including related consulting, staffing, training, and other support services) performed by
  • You or on your behalf; or
  • A person or organization whose assets or business you have acquired
  • Includes:
    – Reps and warranties made with respect to fitness, performance, quality or use of your service; and
    – The providing of or failure to provide instructions or warnings in connection with your service.

*General Liability and E & O

*Classes Outside Target Market

  Outside Target Market

    - Accounting & Actuarial services
    - Architecture, engineering or surveying, including design, build or construction mgt. services
    - Healthcare, medical or veterinary services
    - Social services & counseling
    - Educational, teaching or child care services
    - Funeral or mortuary services

  Outside CIS Product Target but Within ChubbPro Target (MPL Policy Form)

    - Real Estate, property development & management
    - Advertising Agencies
    - Management Services
    - Public Relations Services
    - Management & Business Consultants
    - Travel services
    - Security Guards
    - Lawyers and Legal Services
    - Appraisal and inspection
    - Financial Services & Insurance

*Product Summary

    • Not industry specific -- replaces old E&O forms
    • Claims made & reported trigger with defense within limits in a single tower
    • For printers, an occurrence form and printing correction expenses protection are available
    • Broad definition of “your product” and “your service”
    • Protection for wrongful acts by or on behalf of the insured
    • Coverage territory can extend anywhere in the world
    • Notice of circumstances condition can preserve insurance for adverse circumstances
    • Requested incurred expenses and pre- and post- judgment interest are supplementary payments
    • Three-year extended reporting period available
    • $5,000 minimum premium for $1million limit
    • Starting Deductible of $10,000
    • Capacity up to $15,000,000 depending on risk class

*Why your clients should buy E&O?
    • Expanded service offerings
    • Well-written contracts are still subject to legal attack
    • Lawsuits must be defended
    • Contractual requirements
    • Corporate governance    

*Who is at risk?

  Companies that:

    •Manufacture, assemble, installation & maintenance
    •Provide design work
    •Select raw material for others
    •Provide services, advice or instruction to others for a fee
    •Subcontract work
    •Print, package or deliver materials for clients
    •Directors and Officers may be liable

                                                                                     자료출처 : Chubb Federal

기업보험전문가그룹(인슈캄파니) www.InsuCompany.com
E&O, Errors & omissions,Errors & omissions Insurance, E&O Insurance, 에러보험,태만보험,성능보험
상담 0505 300 0367