Industry
Insurance for professional services firms.
Advisory, accounting, consulting, and legal practices have layered exposures that don’t fit a generic broker’s template. We read E&O wording, management liability towers, and cyber line by line, then shop and place the coverage across 30+ carriers.
01Overview
What’s distinctive here
The product is judgment. The exposures are the engagement letter, the deliverable, the email trail, the partner who left, and the data that touched the matter. Most claims arrive on a long tail; most coverage debates turn on definitions and prior-act dates.
Carriers underwrite to the practice mix, the client size band, and the regulatory footprint. We map the practice before we map the program.
02Risk scenarios
Where the loss tends to land.
Engagement letter language drives the claim
A 60-person consulting firm signs a master services agreement that contains uncapped indemnity and a hold-harmless that runs to the client’s affiliates. Two years later a deliverable is alleged to have caused a downstream system failure. The E&O carrier underwrote to the firm’s standard form, not this one. The reservation of rights letter follows.
Prior-knowledge exclusion after staff turnover
A regional accounting firm loses a senior manager and inherits half her book. A circumstance the manager had documented internally surfaces nine months later as a claim. The renewal application asked the right question. The answer wasn’t updated. The carrier denies on prior knowledge.
EPLI patterns in growth-stage hiring
A boutique strategy firm grows from 25 to 90 people in two years. EPLI claims frequency tracks hiring velocity, not industry. Wage and hour, misclassification, and post-termination claims are the modal losses. The deductible structure and defense-inside-limits provision drive the economics of every claim.
Partnership transition D&O
A founding partner retires and sells to an internal partner group. The buyout triggers ERISA fiduciary exposure, employment-related allegations from passed-over candidates, and securities exposure if any partner interests touched outside investors. Run-off and Side-A protection get scoped before the transaction closes, not after.
Client data and BEC at finance
A 200-person professional services firm wires $480k to a fraudulent vendor account. The cyber policy responds to social engineering only with a sublimit and a strict callback verification clause. The crime policy responds to computer fraud and funds transfer fraud differently. Which form pays depends on which control failed.
Errors in deliverables that cause financial loss
A valuation report contains a transposition error that leads to a $3M overpayment in a transaction. The plaintiff bar argues professional negligence. The E&O wording on the definition of professional services and the carve-back for financial advice controls the defense, not the merits of the math.
03Coverage lines
What we typically review
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Professional Liability →
Definition of professional services, prior acts, defense-inside-limits, and consent-to-settle.
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Management Liability →
D&O, EPLI, fiduciary, and partnership transition run-off coordination.
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Cyber Liability →
Social engineering sublimits, computer fraud overlap, and breach response panels.
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Property & Casualty →
Office contents, valuable papers, hired and non-owned auto, and umbrella attachment.
04Placement
How we place your coverage
Vetted Risk is a licensed Massachusetts insurance broker. We read the program, shop it across 30+ carriers, bind the coverage, and service it through the policy year.
05Next step
Share your current professional liability declarations.
We’ll respond within one business day with a focused review, not a quote.