Errors and omissions

• Claims-made form, including:
  
  
• Limits from $250,000 up to $5 million available
  
  
• Deductible of $2,500
  
  
• Excludes consequential financial loss in respect of the design, installation and maintenance of internet-based sales platforms.
  
  

Occurrence form, including:

• Limits from $1 million up to $5 million available
  
  
• Personal and advertising injury limit of $1 million
  
  
• Medical expenses limit of $50,000
  
  
• Tenants legal liability limit of $500,000
  
  
• Products and completed operations limit from $1 million up to $5 million available
  
  
• Non-owned automobile limit of $1 million
  
  
• Legal liability for damage to hired automobiles limit of $50,000
  
  
• Occurrence property damage
  
  
• Broad-form property damage
  
  
• Broad-form completed operations
  
  
• Deductible $1,000.
  
  

• Total sum insured for contents of every description from $25,000 up to $250,000 available
  
  
• Maximum sum insured of $50,000 for computer equipment at named locations
  
  
• Standard sub-limit of $5,000 for computer equipment off-site (can be increased to $20,000 for an additional premium)
  
  
• Replacement cost coverage on computer equipment less than two years old and all other office contents
  
  
• Actual cash value coverage on computer equipment more than two years old and items of stock.
  
  

Package includes:

• Accounts receivable sum insured $10,000
  
  
• Extra expense sum insured $10,000
  
  
• Glass blanket coverage
  
  
• Business interruption professional fees sum insured $10,000
  
  
• Valuable papers and records sum insured $10,000.
  
  

Claims-made form, including:

• Limits from $250,000 up to $5 million available
  
  
• Deductible of $2,500
  
  
• Excludes consequential financial loss in respect of the design, installation and maintenance of internet-based sales platforms.
  
  

Occurrence form, including:

Since hitting a high of US$1.1039 on November 7, 2008, the Canadian dollar has declined steadily and has slowly crept back to reality, trading in the 80-cent range compared to the U.S. dollar. As commodity prices decline and the economy struggles along in a recession, the loonie has been hit hard.

Most commercial liability and auto fleet policies are written for limits of Cdn$2 million or less, which is totally inadequate for Canadian companies operating within Canada, let alone those with U.S. exposures. Even in a full-blown hard market, the incremental cost to raise policy limits to $10 million or $20 million remains affordable.

The figures below clearly illustrate that a dollar isn't necessarily a dollar.

Canadian limit	U.S. Equivalent	Shortfall
$ 1,000,000	$ 792,400	$ 207,600
$ 2,000,000	$ 1,584,800	$ 415,200
$ 5,000,000	$ 3,962,000	$ 1,038,000
$ 10,000,000	$ 7,924,000	$ 2,076,000
$ 20,000,000	$ 15,848,000	$ 4,152,000
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Now available - our new IT program
We are pleased to announce a new package program in the professional liability division for information technology. The package features a claims-made errors and omissions cover in combination with an occurrence-form general liability cover. We can also include property covers. The program is written on behalf of a major Lloyd's syndicate. Errors and omissions Claims-made form, including: Limits from $250,000 up to $5 million available Deductible of $2,500 Excludes consequential financial loss in respect of the design, installation and maintenance of internet-based sales platforms. Commercial general liability Occurrence form, including: Limits from $1 million up to $5 million available Personal and advertising injury limit of $1 million Medical expenses limit of $50,000 Tenants legal liability limit of $500,000 Products and completed operations limit from $1 million up to $5 million available Non-owned automobile limit of $1 million Legal liability for damage to hired automobiles limit of $50,000 Occurrence property damage Broad-form property damage Broad-form completed operations Deductible $1,000. Property Total sum insured for contents of every description from $25,000 up to $250,000 available Maximum sum insured of $50,000 for computer equipment at named locations Standard sub-limit of $5,000 for computer equipment off-site (can be increased to $20,000 for an additional premium) Replacement cost coverage on computer equipment less than two years old and all other office contents Actual cash value coverage on computer equipment more than two years old and items of stock. Standard property extension Package includes: Accounts receivable sum insured $10,000 Extra expense sum insured $10,000 Glass blanket coverage Business interruption professional fees sum insured $10,000 Valuable papers and records sum insured $10,000. More details of our program and application forms are available from our website - www.elliottsr.com - or contact Irwin Ginsler in Toronto or Travis Budd in Montreal.
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Now available - our new IT program
We are pleased to announce a new package program in the Professional Liability division for information technology. We can also include property covers. The program is written on behalf of a major Lloyd's syndicate. The errors and omissions wording features: Claims-made form Limits up to $5 million $2,500 deductible Excludes consequential loss in respect of the design, installation and maintenance of internet-based trading platforms Excludes information technology services rendered to the aeronautical, aerospace, marine, automotive, railway, health care and medical industries. More details of our program and application forms available from our website - www.elliottsr.com - or contact Irwin Ginsler in Toronto or Travis Budd in Montreal.
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Information Technology Professional Liability
Our program for information technology consultants provides cover for a full range of information technology risks, including: Software designers and providers Computer and internet consultants Sales, distribution and servicing Internet services, other than internet service providers. The program features include: $5-million in-house capacity Competitive terms Supported by specialist Underwriters at Lloyd's, London Coverage includes libel and slander exposures Minimum premium $2,500 applies. Other E&O covers We offer a full range of in-house E&O capabilities supported by first-class, licensed markets: Architects and engineers Our program provides broad E&O cover at competitive terms. The program features: Practice policies Design and build (including first-party cover) $2-million in-house capacity (higher limits available) Worldwide cover available Cover for architectural and engineering technologists and technicians also available Supported by specialist Underwriters at Lloyd's, London Minimum premium $2,500 applies. Product manufacturers E&O This program provides cover for the product design or advice exposure. Cover complements the standard general liability (GL) and/or product liability policy and is especially suitable where the GL is written with a design E&O exclusion. Program features include: Cover for consequential financial loss for which a manufacturer may be legally liable for damages to a customer or other third party, third-party recall and rectification costs and litigation defence costs arising from a design or advice error $2-million in-house capacity Suitable for manufacturers and suppliers Supported by specialist Underwriters at Lloyd's, London Minimum premium $3,500 applies. E&O cover for design/build contractors under Ontario's Bill 124 This program for designers without professional qualifications is designed to satisfy the requirements of Ontario's Bill 124. Coverage is available in two areas: Design services only-designing for third-party customers Design and build services-for contractors with in-house design staff. Program features include: $2,000,001 limit only Costs inclusive No first-dollar defence Ontario territory and jurisdiction only Based on Bill 124 fees only-no coverage for any other work Minimum premium $3,000 Underwritten on behalf of: Scottish & York Insurance Company Limited Economical Mutual Insurance Company Sovereign General Insurance Company Underwriters at Lloyd's. Coverage for designers with professional qualifications is available within our Architects and Engineers program. Bill 124 was passed in June 2002 and, after several amendments, was implemented in 2005. The bill requires that any firm submitting designs of any type to municipalities in connection with a building permit must be registered and must obtain a ministry-issued designer registration number. This number (Building Code Identification Number or BCIN#) is issued to firms and individuals after specific conditions are met, including the successful completion of the appropriate ministry examinations based on the Ontario Building Code. The bill also requires these firms to carry set amounts of professional liability insurance. More information on Bill 124 is available at: http://www.obc.mah.gov.on.ca. Insurance Brokers E&O Our program features: Broad claims-made form National program-meets or exceeds regulatory requirements in all provinces Competitive terms $5-million capacity (higher limits available) Triple annual aggregate deductible Broad definition of insured Optional extended reporting period, at a predetermined premium and non-cancellable Supported by first-class, specialty Underwriters at Lloyd's We have more than 10 years of experience handling this class of business Minimum premium $1,500 applies. Medical malpractice Our program provides cover for a full range of medical risks, including: Hospitals and medical clinics Nursing homes Alternative medical practitioners Executive and corporate health providers Other medical practitioners Veterinarians. The program features: $10-million in-house capacity Primary or excess cover available Competitive terms Supported by specialist Underwriters at Lloyd's, London Minimum premium $1,125 applies. Environmental consultants E&O Our program is designed for: Environmental consultants Engineers practicing in the environmental field who are unable to obtain appropriate cover from their regular markets Testing laboratories, including analysis of soil, liquids and chemicals Biologists Geologists Chemists Other consultants in the environmental field. The program features: Policy limits up to $2 million. Cover on a broad claims-made policy form Cover includes prior acts exposures No environmental exclusion applies Underwritten in-house and supported by domestic licensed insurers Minimum premium $2,500 applies. Miscellaneous E&O Our program offers E&O cover for a wide range of business and professional risks, including: Adjusters Employment agencies Graphic designers Interior designers Management consultants Property managers Many other classes, too numerous to mention here. The program features: $2-million capacity (higher limits available) Supported by specialist Underwriters at Lloyd's Worldwide cover available Minimum premium $2,500. Application forms for all of our E&O programs are available from our website. We'll accept the applications of other markets in most cases. So give us a call-even if your account isn't listed here, we'll try it on for size.
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E&O cover for Information Technology Professional Liability
We are pleased to announce our new program for information technology consultants. This program provides cover for a full range of information technology risks, including: Software designers/providers Computer and internet consultants Sales, distribution and servicing Internet services, excluding internet service providers. The program features: $5-million in-house capacity Competitive terms Supported by specialist Underwriters at Lloyd's, London Coverage includes libel and slander exposures Minimum premium $2,500 applies.
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