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L Squared Insurance Agency Blog: ceol

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CEOL stands for Claims Expenses Outside the Limits of Liability.  CEOL is a separate liability sublimit for claims expenses (sometimes call defense costs).  With CEOL claims expenses do not reduce the primary liability limit, unless the sublimit is exhausted. READ MORE >>

This issue recently came up with a client who did not want a ‘burning’ the limits attorney malpractice policy.  The client went no further than the insurance proposal coversheet to come to a conclusion.  In this case the client assumed (wrongly) that Claims Expenses Outside the Limits meant that there was no separate coverage for defense costs. READ MORE >>

In Westport Insurance v Peter G Mylonas, Westport filed a declaratory action with the court to determine whether multiple allegations of attorney malpractice during Mylonas representation of his client Papadopoulos result in one claim or many claims. READ MORE >>

CEOL stands for Claims Expenses Outside the Limits.  The purpose of CEOL is to provide a separate limit of liability claims expenses to help preserve the primary limit of liability.  The other Lawyers Professional Liability Insurance Policy option is Claims Expenses Inside the limits (CEIL). READ MORE >>

CEOL stands for Claims Expenses Outside the Limits.  The purpose of CEOL is to provide additional coverage for claims expenses to help preserve the primary limit of liability.  The other option is Claims Expenses Inside the limits (CEIL).   With CEIL, every dollar used for claims expenses reduces the liability limit by a dollar. READ MORE >>

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