Professional Liability Insurance
Protecting your business from factors beyond your control.
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?
Who needs professional liability insurance?
- 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?
- Inaccurate advice
- 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.