Professional liability insurance coverage for your insureds from mistakes made.

Mistakes happen. Professional liability insurance may help protect your insureds.

When general liability insurance isn’t enough.

You might think that general liability insurance covers every liability risk you face, but that would be an expensive mistake. This is where professional liability insurance, including errors and omissions liability (E&O) coverages, comes into play. It helps to cover your insureds and their employees against claims of negligence or actions taken that harm someone else. If your insureds provide professional services or advise others, they may want to consider having an PL policy to help safeguard their assets.

What professional liability insurance covers.

In simple terms, professional liability insurance covers the costs of physical damage, whether that be to a person or your insureds property. Insurance may cover financial losses that other people—such as clients—suffer because of your actions or lack thereof. Coverage may include court costs as well as settlement costs, depending on your policy and the limits.

  Do your insureds need PL coverage?

If your insureds offer professional advice or services, such as financial professionals, contractors, non-profits, engineers, doctors, legal professionals, and the like, they’ll want to consider having a PL policy for their business

  How much is professional liability insurance?

The cost of a PL policy may vary depending on your insured’s business type, their location, and if your insureds have had lawsuits or claims made against them in the past.

Which businesses benefit from PL coverage?

This most commonly involves businesses that give professional advice to their clients. However, with some policies, it may also involve unintentional violations of copyright and other intellectual property law or defamation, such as libel. For companies that provide advice, a PL policy is essential. It may also prove useful for companies that supply software and similar tools that clients might then use for their own businesses. You’ll want to consider a professional liability insurance policy that will cover both the costs of any damages themselves and the costs of defending claims for your insureds.

Are you looking for a professional liability insurance policy for your insureds? Contact us to go over your insureds, the risks you face, and what your coverage options are.