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January 2023

What is DOL: Defense Outside of Limits in Business Insurance

“Defense outside the limits” is a term used in insurance that refers to the coverage provided by the insurer for expenses incurred by the insured in defending against a claim, even if the claim is ultimately found to be outside the scope of the policy. While “defense outside the limits” coverage is not required by law, it is often included in business liability policies as an added layer of protection for the insured.

What is FDD: First Dollar Defense on Professional Liability / Errors and Omissions Insurance

The fist dollar defense is a term used in E&O insurance. It means that the insurance company will cover the first dollar of any damages that are awarded to the policyholder. This is in contrast to a policy where the insurance company only covers a certain amount of damages, such as the first $10,000. The fist dollar defense is beneficial to policyholders because it ensures that they will not have to pay any damages out of pocket.