What Are the Key Differences Between Aon and USI Insurance Services Professional Liability (E&O) Insurance?
Policy scope and stated allegations
Aon describes professional liability as addressing professional-services firms’ liability exposure and says it tailors coverage structures to a firm’s needs. It identifies E&O as a commonly used name for professional-liability insurance; actual policy terms are not stated. USI Insurance Services describes uSI describes the policy as insuring a CPA and their practice against third-party claims that professional services caused financial harm, providing a defense and paying damages for covered claims arising from high-risk situations tied to new clients, changing business plans, or new laws and regulations. Compare the specific allegations and covered costs in the forms rather than relying on a shared E&O label. [1] [6]
Who each practice serves
Aon identifies law, accounting and consulting firms as the audience for its global Professional Services Practice. That audience scope does not establish eligibility for every firm or other business. USI Insurance Services identifies uSI markets the AICPA program to sole practitioners and regional CPA firms. It has offered CPA coverage since 1967 and has been the endorsed AICPA Program provider since 1994. Check whether your profession and services fall within both descriptions, then ask underwriting to confirm eligibility. [1] [6]
Service after requesting a quote
Aon describes its professional-services advisors use industry knowledge, insights, data and tools to support risk-management and human-capital decisions. This is a company-described advisory service, not a claim outcome or policy benefit. USI Insurance Services describes uSI says firms enrolled in the program get supportive claims handling and exclusive access to risk-management resources, including engagement-letter templates, in addition to the coverage itself. Ask which team handles renewals, policy changes and claim questions for your E&O account. [1] [6]
What Should You Confirm in Aon and USI Insurance Services Professional Liability (E&O) Insurance Quotes?
- Ask Aon to confirm the quoted policy form, retroactive date and covered allegations; its offering says professional liability as addressing professional-services firms’ liability exposure and says it tailors coverage structures to a firm’s needs. It identifies E&O as a commonly used name for professional-liability insurance; actual policy terms are not stated. [1]
- Ask USI Insurance Services to confirm the quoted policy form, retroactive date and covered allegations; its offering says uSI describes the policy as insuring a CPA and their practice against third-party claims that professional services caused financial harm, providing a defense and paying damages for covered claims arising from high-risk situations tied to new clients, changing business plans, or new laws and regulations. [6]