How do I apply for coverage?
|
 |
| Download the application form from this site. (If you have a question about which application is correct, please call). Complete, sign, date and return the application and include C.V.'s (resumes) for each of the professionals on staff and any brochures that are available. Answer every question completely or state "N/A" if it is not applicable to your firm. |
» Back to top
|
| |
|
Will you provide terms based on another insurers application?
|
|
| Yes, we will provide a rough indication of terms subject to the receipt and acceptance of the original signed and dated Elliott Special Risks Ltd. application (or specific Insurer application in certain instances) prior to binding. The application also forms part of our policy document. |
» Back to top
|
| |
|
For how long are your quotes valid?
|
|
| Our terms are valid for up to 30 days. After that, the information in the application must be re-submitted for review. In addition, each application ends with a claims declaration that must be signed and dated by the Insured. The date of signature must be less than 30 days old at the time of binding. If it is older we will need either a separate Claims Declaration from the Insured or the original application re-signed and re-dated. |
» Back to top
|
|
|
|
Why are we so insistent on obtaining the ORIGINAL signed and dated application before issuing our policy? Won't a faxed or e-mailed copy do?
|
|
| Unfortunately not. The policy is on a "claims-made" basis and contains the usual exclusion for claims arising out of claims or circumstances known to the Insured at the time they sign the application. Therefore, the answers to the claims and circumstances questions contained in the application are paramount in risk evaluation and avoiding adverse selection and could be a principle defence raised in the event of a claims arising out of conditions "known to the Insured" at inception. Although faxed and e-mailed applications are gaining acceptance, at present it is not felt that they have the same legal weight as an original signed application and they would not be acceptable to pool underwriters. As the applications become part of the policy, we are obliged to hold off issuance of the policy until they are received. |
» Back to top
|
| |
|
Are your E&O policies written on a claims-made or occurrence form?
|
|
| Our policies are written on a claims-made form. |
» Back to top |
| |
|
Can prior acts coverage be provided?
|
|
| Yes, usually back to the inception date of the first claims-made policy provided there are no gaps in coverage. Depending on the amount of prior acts coverage provided an additional premium may be charged. |
» Back to top
|
|
|
|
Can the policy be extended to cover non-environmental engineering?
|
|
| Our underwriting criteria will allow for up to 10% of the fee income to come from non-environmental engineering services. |
» Back to top
|
| |
|
What is the purpose of the design/build/remediation services exclusion?
|
|
| The E&O policy is designed to provide cover for claims arising out of the provision of professional services. There are concerns of inherent conflicts of interest that can arise from a firm that both provides the consulting services and does the procurement/construction/manufacturing services or remediation work. In these circumstances we attach the exclusion but make available a buy-out subject to some conditions: an additional premium is usually charged we require that the appropriate products/completed operations pollution coverage be provided either in a CGL without an absolute pollution exclusion or an appropriate pollution policy. We can assist in both of these coverages. |
» Back to top
|
| |
|
Will you underwrite the E&O cover without writing the Comprehensive General Liability (CGL) or Environmental Liability (EIL) covers?
|
|
| We can usually write the E&O as a stand-alone product. |
» Back to top |
| |
|
Can the policy provide cover for services and/or claims outside of Canada?
|
|
| No. Our program provides cover for services provided and suits instituted in Canada only. It is possible to secure quotes from outside the pool for foreign exposures on an offer and acceptance basis. |
» Back to top
|