CHES Special Risk Announces Enhanced Specialization in E&O Insurance Products

Comprehensive Coverage, Expert Support, Industry Expertise, and Broker Support as the Cornerstone TORONTO, ON, JULY 9, 2024/insPRESS/ – E&O insurance, also known as Professional Liability insurance, is crucial for professionals who offer advice or services. It protects them from potential legal claims arising from negligence, errors, or omissions in their work. Understanding the increasing demand […]

By Irene | July 9, 2024 | Last updated on September 9, 2024
3 min read

Comprehensive Coverage, Expert Support, Industry Expertise, and Broker Support as the Cornerstone

TORONTO, ON, JULY 9, 2024/insPRESS/ – E&O insurance, also known as Professional Liability insurance, is crucial for professionals who offer advice or services. It protects them from potential legal claims arising from negligence, errors, or omissions in their work. Understanding the increasing demand for robust E&O coverage, CHES Special Risk has expanded its offerings to cater to the unique needs of a wide range of professions. This strategic development underscores CHES Special Risk’s commitment to providing comprehensive and tailored insurance solutions to professionals across various industries.

As professionals in diverse fields face increasing risks and complexities, leading MGA in Canada, is committed to delivering tailored E&O policies that address specific professional liabilities. Their specialized E&O insurance offerings cater to a wide range of professions, including:

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  • Accountants
  • Actuaries
  • Architects
  • Engineers
  • Insurance brokers
  • Patent agents
  • Solicitors
  • Surveyors
  • Managing General Agents (MGAs) and binding authorities.

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Comprehensive Coverage for Specific Professional Risks

CHES Special Risk’s E&O insurance policies are meticulously crafted to cover a broad spectrum of professional risks. Senior Underwriter Hoang Quan Nguyen emphasized, “Our goal is to provide policies that are not only comprehensive but also finely tuned to the particular challenges each profession faces. From accounting errors to architectural design flaws, our coverage ensures that professionals can operate with confidence, knowing they are protected against potential claims.”

Expert Support for Tailored Solutions

The dedicated underwriting team at CHES Special Risk offers unparalleled support to clients. Senior Underwriter Michael Chaplik stated, “At CHES Special Risk, we believe that expert support is crucial in the E&O insurance space. Our team works closely with brokers and policyholders to understand their unique needs and provide tailored solutions. This personalized approach sets us apart and ensures that our clients receive the best possible protection.”

Industry Expertise for Informed Coverage

With a profound understanding of the intricacies of various professions, CHES Special Risk brings industry-specific knowledge to the table. “Each profession has its own set of risks and challenges,” noted Hoang Quan Nguyen. “Our expertise in these fields allows us to offer specialized advice and coverage options that are truly aligned with our clients’ professional realities.”

Broker Support for Real-World Claims Situations

E&O insurance is essential for mitigating risks in professional practice. For instance, an accountant might face a claim for alleged errors in financial reporting, leading to financial loss for a client. In such cases, CHES Special Risk’s E&O policy would cover legal defence costs and any settlements or judgments, safeguarding the accountant’s financial stability. Similarly, an architect could encounter claims of design negligence resulting in construction delays or defects. CHES’s tailored E&O insurance would provide coverage for legal fees and associated damages, ensuring the architect can continue their practice without devastating financial repercussions.

CHES Special Risk’s unique selling propositions come to the fore in broker situations. For example, a broker working with an engineering firm can rely on their dedicated underwriting support to secure the right policy swiftly and efficiently. Michael Chaplik highlighted, “Brokers appreciate our hands-on approach and deep understanding of industry-specific risks. We make the process seamless, allowing brokers to deliver top-notch service to their clients.”

With their enhanced specialization in E&O insurance products, CHES Special Risk continues to stand out. Professionals across various sectors can trust CHES Special Risk to protect them against the unique liabilities they face, ensuring they can operate with confidence and security.

For more information, please contact CHES Special Risk at Info@CHESspecialrisk.ca.

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ABOUT CHES Special Risk Inc.

CHES Special Risk Inc. was established as a Managing General Agent and Wholesale broker in 2004, in response to broker demand to a hardening marketplace, commencing with a particular specialty in the entertainment and hospitality business, later becoming a fully accredited Lloyd’s cover holder in 2009. CHES Special Risk and Sister Companies are a fully Independent MGA delivering “A” rated capacity both in the hard to place, and standard lines classes and support their retail brokers in growing and developing their businesses.

Additional information regarding CHES Special Risk can be found at: http://www.CHESspecialrisk.ca.

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If you would like more information about this topic, please call us at 416-452-7850 or email Gary.Hirst@CHESspecialrisk.ca

Irene