Errors and Omission (E&O) coverage is the insurance that covers your company, or you individually, in the event that a client holds you responsible for a service you provided, or negligently failed to provide, that did not have the expected or promised results. Within the medical field, it’s commonly referred to as malpractice insurance. For lawyers, accountants, architects or engineers, it may be called professional liability. It’s a common misconception though that only Doctors and Lawyers need E&O. What happens if a wedding planner books the event on the wrong day? Who is going to pay if a freight forwarder sends a shipment to London, KY instead of London, England?
The term “Professional Insurance” is more commonly referred to as Malpractice Insurance or Errors & Omissions. The need for Professional Insurance is no longer limited to Doctors, Lawyers and Insurance Agents. The Foster Sullivan Group works closely with professionals, technology companies, start-ups and design professionals to understand the type of work being performed and the advice given to clients, to assess the true nature of the Professional Liability exposure.
Not only does the Foster Sullivan Group have access to all national and global markets for the insurance part of your Professional Liability exposure, but with on-staff counsel, licensed insurance advisors, coverage and claim specialists, and designated industry account managers, we have the capabilities and expertise to give advice and counsel on your overall risk management profile: when to insure; when to retain risk (deductibles); when to invest in loss avoidance and loss mitigation.
Our expert staff will work closely with you to understand your specific challenges, develop risk control programs that have an impact, and then design a ‘narrative’ for the insurance marketplace about your exposure that will have the insurers competing for your business. We will work with you throughout the year, year over year, to review, forecast and reduce your overall cost of risk and make sure your program is affordably responding to your changing needs.
You have worked hard to develop your business and have much at stake in its success. Make sure you engage true professionals to properly protect your capital from risk. The Foster Sullivan Group – Protecting Your Business, Protecting Your Future.
This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued through Foster Sullivan Insurance Group, LLC or its carrier partners. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverage referenced in this website can depend on underwriting qualifications and state regulations.
Foster Sullivan Insurance – Protecting Your Future
Who Our Clients Are...
Foster Sullivan business clients are small to mid-sized, privately held companies who would rather focus on revenue generating activities than they would insurance related issues. They surround themselves with trusted advisors who assist them in ensuring the safety and well-being of their employees, their clients and their property.
Our success has been driven by meticulous planning, collaboration, and minimizing surprises and risks for our clients. As a result, we’ve been able to deliver consistently spectacular results. We expect no less from our strategic business partners. Foster Sullivan has been that kind of partner – they know us, they know our industry, and they work with us relentlessly on driving down the overall cost of risk & insurance for our construction business.
Foster Sullivan Insurance has worked with us since our founding in 1989. Over the last 25 years, WEI has grown from 2 employees to over 80. We have had many different insurance carriers over the years but always the same agent. Mike Foster and Kelly Pappas have provided a consistent competitive insurance program as our company has grown. We appreciate the fact that Foster Sullivan focuses on risk reduction strategies – not just the sale of another insurance product.
F & B Distributors has been doing business with Foster Sullivan for over 8 years. Mike Foster has consistently offered competitive pricing and more importantly has been our advocate when we have had claims. Working with Mike & Lisa makes dealing with insurance matters so much easier. Thanks guys, you’re great!
I have been doing business with Foster Sullivan and Karen for over 5 years. She has always been extremely responsive, competitive, professional and dependable. Karen’s efforts have saved our organization thousands of dollars, while ensuring that we constantly have the right amount and type of coverage for our business. I cannot imagine working with another person or agency when it comes to insurance.
Airex Filter Corporation has been doing business with Mike and Foster Sullivan for more than 15 years. Mike has consistently offered competitive pricing and more importantly has been our advocate when we have had claims. Working with them makes dealing with insurance matters so much easier. With the growing concern our customers have to work with vendors that are fully insured, asking for certificates of insurance has become common place. The staff at Foster Sullivan is fantastic to work with, and the response to all matters is immediate.
Piquette & Howard Electric Service has been a client of Foster Sullivan Insurance Group for over 20 years. Our company has grown and expanded since then and Mike Foster and Kelly Pappas have been able to keep our insurance rates competitive and our coverage appropriate during that expansion. With her legal background, Kelly has been extremely helpful in reviewing contracts and recommending changes when needed. For us, as a contractor, getting Certificates of Insurance turned around quickly is crucial. Foster Sullivan will get them back to us in less than 4 hours – usually sooner. I would highly recommend Foster Sullivan Insurance as an Agency to anybody looking for responsiveness, professionalism and dependability.
Votze Butler Associates, Inc. has been a client of Foster Sullivan Insurance Group for over 10 years. Mike Foster, Kelly Pappas and Lisa Lariviere have earned our loyalty and trust by proving time and again that they put our best interest ahead of commission dollars. They don’t just sell us insurance policies, they partner with us and, as we have grown, they have adapted their services and recommendations to meet our changing needs. There are a lot of moving parts in the world of construction and they take it all in stride with a great sense of humor, enthusiasm and a responsiveness that is refreshing. They are true professionals who clearly enjoy what they do!
Our business has expanded from one shop to over 40 in the past 20+ years and we are a serious player in the New England hair care industry. Foster Sullivan Insurance has been our Agent the entire time. Because we operate 7 days a week, 360 days a year, one of the key factors in our relationship has been "availability." Nights, weekends, holidays, you name it, Foster Sullivan has been there for us! I confidently recommend them because there is a difference!
Business Owner Concerns...
Foster Sullivan’s approach recognizes and balances short-term “price” and long-term “cost” considerations. The attractiveness of a one-year price reduction shouldn’t be the deciding factor in switching Agents or carriers. We work with our clients to educate them on how to reduce their total cost of risk, including insurance, in year one, and over time.
Foster Sullivan has a team of proactive, responsive, accessible account managers and agents who know you, your business and your industry. We couple that with a specific, continuous service program throughout the policy year.
Foster Sullivan Agents work within niche markets so they thoroughly understand their clients’ businesses and challenges. They meet with clients before agreeing to quote a policy, to ensure the fit is right. A Foster Sullivan Agent will focus on your history, risks, needs and exposures, when considering the best solution for your company.
Foster Sullivan has deep claims and litigation expertise within the agency, allowing for significant impact on claims handling. We put that expertise to use for our clients’ benefit in an effort to favorably impact their long-term premiums.
Foster Sullivan’s account management and account executive experts, aligned in industry-specialized teams, are actively engaged in industry forums, associations and groups, while getting to know a client’s specific business and personnel.
Foster Sullivan employees encompass a broad and deep expertise that includes legal, insurance and business experts, all brought to bear for a comprehensive approach to managing your risk in a professional, advisory and consultative manner. Continuing education and self-improvement is a vital part of the Foster Sullivan culture.