Professional Liability Insurance

Better protecting your business from factors beyond your control.

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Professional advisory can be risky.

Even when you mean the best, the people and businesses you advise could accuse your company of misrepresentation, breach of contract or wrongful business practices.

Professional liability insurance protects businesses against charges of negligence or harm, based on a professional service or advice you provided. It’s also known as errors and omissions (E & O) insurance. Professional liability insurance covers defense costs, judgment, settlements and fines or penalties resulting from the allegations of misrepresentation, breach of professional services, wrongful business practices, misleading advice and conflict of interest.

Did You Know?

A general liability policy doesn’t cover your professional exposures, it only covers personal and bodily injury and property damage. You may need professional liability insurance to be better protected.

Who needs professional liability insurance?

You’ll want to get this type of business insurance policy if you:
  • Have to sign a contract that requires you to carry coverage
  • Offer professional services directly to customers
  • Regularly give advice to your clients

What does professional liability insurance cover?

Professional liability insurance helps cover claims of:
  • Negligence
  • Misrepresentation
  • Inaccurate advice
Even if you didn’t do anything wrong, your client can still sue your business if they believe you made a mistake. Without coverage, you’ll have to pay expensive legal defense costs out of pocket.
It’s important to remember that professional liability insurance doesn’t cover everything. For example, it won’t help your business with these kinds of claims:
  • Bodily injury or property damage: You’ll want to get a general liability insurance policy to help cover your costs if your business hurts someone or damages property.
  • Work-related injuries or illnesses: If your employees get hurt or sick from their job, you’ll need a workers’ compensation insurance policy to help them recover and return to work.
  • Data breach: You’ll need cyber insurance if your business loses confidential or sensitive information about your clients and customers.

Ready to get started?

Getting set up with the right insurance is easier than you think. To get started, click the button below to start a quote.

Or, connect with a Diebold agent at (989) 345-0200.