ENCON to Enhance Coverage for Miscellaneous E&O Professionals

OTTAWA, ON  – ENCON Group Inc., a leading managing general agent in Canada, is pleased to announce that effective immediately it has enhanced the Errors and Omissions (E&O) policy for many of its miscellaneous professionals, including legal, financial and insurance professionals, environmental consultants, health care professionals and facilities, and professional services companies and consultants.

For qualifying classes of business, the coverage enhancements will include the following:

• First dollar defence coverage (deductible does not apply to defence costs)
• Split damages deductible
• Loss of earnings coverage for an insured when requested to attend discoveries, mediation and/or trial as part of the defence of a claim (subject to applicable sublimit)
• Coverage for claims made anywhere in the world, with duty to defend in Canada and the United States of America

“These coverage enhancements will help to reduce the cost of a claim for our insureds, both in terms of deductibles and potential lost earnings,” said Stefanie McKay, Senior Vice-President, Errors and Omissions, ENCON. “The financial stress that may be caused by a request to attend discoveries, mediation or trial as part of the defence of a claim, will be eased by the loss of earnings coverage that is now in place.”

Two key additional enhancements will also apply to qualifying small firms that are claims free with revenues of less than $2 million. These enhancements include: defence costs (including investigation, legal and expert expenses) in excess of the policy limits and zero dollar deductible.

“The additional enhancements for small firms are significant because they help to preserve the limits available to resolve claims made against our insureds,” explained McKay. “This means that defence costs, which have been on the rise in recent years, will not erode a policy’s available limit to settle claims and pay judgements.”

For more information about this coverage, please visit the ENCON E&O Insurance product pages on our website.

About ENCON Group Inc.

As a leading managing general agent in Canada, ENCON Group Inc. offers professional liability, commercial general liability, construction and environmental insurance, as well as group and retiree benefits programs for individuals, professionals, organizations and businesses, which are available through a national network of licensed insurance brokers and plan advisors. Learn more at: www.encon.ca.

 

Media Contact: Barbara Drysdale Assistant Vice-President Marketing and Communications barbara.j.drysdale@encon.ca 905-755-2043 1-877-732-2879 ext. 2043

Business Contact: Margie O’Meara Assistant Vice-President Errors and Omissions margie.a.omeara@encon.ca 613-786-2256 1-800-267-6684 ext. 2256