Why doesn't the Errors and Omissions Insurance Company enjoy Claim's Adjusters?
Ever see one?
Ever heard of one?
Ever read their reports?
This is a rant masquerading as a grill. You don't say what your issue with E & O carrier is but based on the fact that you are a top contributor surrounded by engineering you should be well aware that all insurance companies enjoy claims adjusters. Have I ever seen an E & O adjuster? Yes, Their presentations at seminars base on claims they have paid out are reasonably informative and interesting to learn from.
Of course E&O companies have claims adjusters. Have you ever file an E&O claim against someone? You will get a call from an adjuster. The adjuster also contacts the insured to draw from both sides of the story and any and all documentation related to the claim. I have be working in insurance for over 19 yrs & we have have I believe 3 E&O claims during that time. My supervisor dealt with the adjuster & the assigned attorney. Luckily adjectives 3 were thrown out for lack of evidence on the claimant's chunk. I didn't "see" the adjuster in person, they spoke to my supervisor on the phone.
You would never read their reports, specifically work product & owned by the company & protected by law. No one sees the reports except the company, the agent can't even see the reports.
Well, NO ONE reads ANY adjuster's reports. They are private information.
But sure, carrier like St. Paul-Travelers come immediately to mind. They hold adjusters.
You don't hear of them, because E&O claims ALWAYS mean a lawsuit. No suit, no claim. The adjuster in the home organization manages it, with the defense attorney within front.
It's not like house or car insurance.
Answers: E&O insurance normally covers professional services. What commotion is being insured for E&O?