E&O and liability insurance – alternatives to Dominion

[Anonymous]

Hi,

As I have to renew my error & omissions and general liability insurance soon, I would like to hear what experiences others had with different insurance companies. Currently I am with Dominion, but in the some people have been discussing about Hiscox also.

Any recommendations, any companies to avoid?

Thanks for all tips!
Rita

[Anonymous]

This would be great to know! Are there any more reasonable companies out there? Dominion is so expensive!

[Linda Swartz]

This is my experience with Hiscox. I had Hiscox for a year (a few years back). I got it through a broker. At renewal time, Hiscox said they could not insure me for DMM services. I was very surprised, since they did for a year. They said it was a mistake. They had misunderstood what my business was. This despite talking to me, reviewing the form I filled out, and looking at my website. I found that puzzling. I’m with Dominion now.

[Anonymous]

I went with a local Ins broker – two other DMM’s in the area are using them. It’s only vaguely cheaper than Dominion.

[Anonymous]

Most clients do not ask for any specifics on the insurance I carry, which happens to be the E&O from Dominion. I was recently asked by a prospective client what my policy covers. I really could not get into any details besides the obvious on the services I provide. Frankly, looking at the 16 page insurance document is very difficult to boil down into laymen’s terms. I do not know how client’s can get comfortable with this policy when so much appears to be excluded. Does anyone have a good summary in laymen’s terms so it would be relatively easy to present to a prospective client?

Also, are you aware of any of your client’s who have robust homeowners insurance policies that can also protect them from professionals with access to their personal and sensitive data.

Thanks, Ron

[Author]

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