CHES Special Risk launches miscellaneous professional risks E&O offering | Insurance Business Canada
CHES Special Risk has unveiled its latest offering: an errors & omissions (E&O) insurance solution for miscellaneous professional risks.
The insurance offering, available through brokers, is for industries such as (but not limited to): fork lift training, photography, recruitment consultants, event planners, interior designers, tour operators, social media consultants, property managers, trade associations, health & safety inspectors, shipping and freight consultants, and forestry consultants.
“We have access to some new markets from Lloyd’s of London that are exclusive to us,” said CHES Special Risk president and CEO Gary Hirst. “This allows us to offer E&O insurance for a whole range of industries which are difficult to place in Canada.”
CHES Special Risk senior underwriter Ashley Scandlan added that many businesses offering consultancy services are typically underinsured, since they lack awareness of their own risk exposures.
“For any business selling its knowledge as a service there is an E&O exposure,” the senior underwriter said. “Coverage for such businesses is often subpar and we are finding that people are unaware they have E&O exposures.”
Scandlan also mentioned that although the new offering is available to more than 100 different industries, the insurance program “does very well” for recruitment consultants, photographers, and event planners.
Read more: CHES Special Risk launches insurance offering for the cannabis industry
In May, CHES Special Risk launched a new insurance offering for the cannabis industry. The insurance solution was designed to suit the needs of the various businesses involved in the cannabis sector, such as cultivators, third party processors, micro-growers, cannabis-related product manufacturers, wholesalers, distributors, laboratories and research, the medical cannabis sector and ancillary industries like CBD oil manufacturers.