E&O Insurance

Table of Contents:

 

Chapter 1: Liability Dangers

 

Public Awareness:

Page 1

Classified as a professional

2

Malpractice Insurance Policies

4

Standard of Care

5

In Summary

9

 

 

Chapter 2: General Liability

 

Industry Variety

10

Insurance Agents

11

Insurance Agents’ Professional Negligence

12

Insurance Agents’ Presumed Negligence

13

Insurance Agents’ Contributory Negligence

14

Insurance Agents’ Imputed Negligence

14

Insurance Agents’ Negligence in Tort Liability

15

Express Authority & Ostensible Authority

17

Torts & the Basis for Liability Claims

19

Torts & Contracts

20

Liability Under Torts

20

Insurance Agents’ Civil & Criminal Violations

20

Insurance Agents’ Breach of Contract

22

Breach of an Implied Agreement Theory

23

Breach of Contract Theory

23

Legally Binding Insurance Contract

23

Relevance

24

A Contract of Adhesion

24

For Review:

25

Accountant’s Liabilities

25

When Are Accountant’s Not Liable to Third Parties?

26

Accountant Negligence

28

Accountant Breach of Contract

29

Accountants’ Civil & Criminal Violations

30

Investment Advisor’s Liabilities

30

Stockbroker’s Liability

32

Stockbroker Negligence

33

Stockbroker Breach of Contract

34

For Review:

36

Chapter 3: Preventive Measures

 

Public Harm

37

Triggers

37

Financial Planning in the Real World (risk)

38

The Degree of Risk

42

Inflation

42

Likelihood of Loss

45

Degree of Loss

46

Risk Classifications

47

Who Should Carry the Burden of Risk?

49

What Type of Documentation?

51

Claiming Unearned Education or Experience

51

Full Disclosure

52

Release of Liability Form

52

What Is Due Diligence?

54

Fiduciary Duties

55

Keeping Current on New Trends

56

 

 

Chapter 4: The Policy

 

By Any Other Name . . .

58

    Claims-made & Occurrence policies

60

Insurance Agents

63

Financial Planners

64

 

 

Chapter 5: Professional Ethics

 

Industry Ethics

65

Personal Ethics

66

What Are Ethics?

66

    Virtues

68

What Motivates Ethical Behavior?

70

Egoists

73

What Are Our Responsibilities to Other Moral Persons?

79

Establishing Our Identity

80

   Objectivist Ethics

81

How Can One Be Ethically Active?

82

Laws and Ethics

88

 

United Insurance Educators, Inc.

8213 – 352nd Street East

Eatonville, WA  98328

www.uiece.com