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How to fill out the Specified Professionals Basic Errors & Omissions Insurance online
Filling out the Specified Professionals Basic Errors & Omissions Insurance application online can seem daunting, but this guide provides a straightforward approach to completing it accurately. Follow the steps outlined below to ensure a smooth process.
Follow the steps to complete your application effectively.
- Click the ‘Get Form’ button to access the application form and open it for editing.
- Begin by entering the current date in the designated field at the top of the form. Then provide your personal information including the applicant's name, any 'doing business as' (DBA) names, contact details, email address, telephone number, and website.
- Fill in the address section with the primary office location, and include details of any other branches or locations your business operates.
- Indicate the type of business entity (corporation, LLC, partnership, individual, or other). Specify the year the business was established and provide names of all owners along with their ownership percentages.
- Answer questions regarding potential conflicts of interest, changes in business operations, and external operations. Be sure to provide details if any 'Yes' answers require further explanation.
- Provide information on the total number of active staff, including full-time and part-time classifications of owners, partners, officers, professional employees, independent contractors, and other employees.
- Record the estimated annual revenue figures for the current year and the previous two years. Describe the professional services your business provides and the percentages of gross revenues derived from each.
- List the errors and omissions insurance history for the past five years, noting the details of each policy, including insurance limits and whether it was claims made.
- Complete the section regarding any claims or suits that have been made against the applicant or any predecessor businesses, and ensure you provide required attachments if necessary.
- Finally, review the entire application for accuracy. Upon completion, save your changes, and utilize options to download, print, or share the form as needed.
Complete your application online today to ensure you have the coverage you need.
An errors and omissions clause is a provision, usually in an obligatory reinsurance treaty, stating that an error or omission in reporting a risk that falls within the automatic reinsurance coverage under such treaty shall not invalidate the liability of the reinsurer on such omitted risk.
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