CHES Special Risk expands offerings with professional liability

Proposition leverages understanding of industry-specific risks

CHES Special Risk expands offerings with professional liability

Professional Risks

By Terry Gangcuangco

CHES Special Risk has announced a significant expansion, offering comprehensive errors and omissions (E&O), or professional liability insurance, in response to growing demand.

Recognizing the diverse needs of professionals, the managing general agent has enhanced its portfolio to cater to accountants, actuaries, architects, engineers, insurance brokers, patent agents, solicitors, surveyors, and even MGAs and binding authorities.

Senior underwriter Hoang Quan Nguyen explained the comprehensive nature of the policies, stating: “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.”

For instance, an accountant might face a claim for alleged errors in financial reporting that lead to losses for a client, or an architect could encounter claims of design negligence resulting in construction delays or defects.

In such cases, CHES Special Risk’s E&O policy would cover legal defence costs and any settlements or judgments while also providing coverage for legal fees and associated damages.

Senior underwriter Michael Chaplik had this to share: “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.”

Meanwhile, according to CHES Special Risk, its industry-specific expertise allows it to offer informed coverage options. “Each profession has its own set of risks and challenges,” Nguyen highlighted. “Our expertise in these fields allows us to offer specialized advice and coverage options that are truly aligned with our clients’ professional realities.”

For brokers, the offering is considered particularly beneficial. Chaplik shared that their broker partners appreciate the MGA’s hands-on approach and deep understanding of sector-specific risks. “We make the process seamless, allowing brokers to deliver top-notch service to their clients,” he commented.

Brokers interested in the proposition are advised to contact CHES Special Risk directly.

What do you think about this story? Share your thoughts in the comments below.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!