Nuts & Bolts:
Victor O. Schinnerer & Co. launched SpecialtyOne, an E&O insurance program for management consultants and staffing firms. Target risks for the program include a range of consultants, such as management, marketing, human resource, public relations and market research firms, as well as staffing firms like employment agencies, temporary staffing and executive recruiting. The SpecialtyOne duty-to-defend policy also features defense coverage against allegations of criminal, dishonest, fraudulent or malicious errors and omissions and an innocent insured provision. Claims will be handled by a third-party administrator specializing in professional liability claims. Schinnerer works with independent agents, brokers and wholesalers. No special licensing is necessary.
Dollars:
Minimum premium is $2,500 and deductibles start at $2,500 for up to $1 million in annual revenue. The policy limit is $5 million.
Carrier:
Brit, a Lloyd’s of London Syndicate, rated “A,” nonadmitted.
States Available:
All except Alaska, Hawaii, Illinois and Kentucky. Coverage will soon be available in Illinois and Kentucky.
Contact:
Mark Wolf, (301) 961-9867, mark.s.wolf@schinnerer.com or Mary Jefferson, (301) 951-9798, mary.l.jefferson@schinnerer.com.
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