Professional Liability Insurance

Safeguard Your Career and Business - Professional Liability Insurance

Professional Liability (also known in some professions as Errors and Omission Insurance or E & O Insurance) isn't just for doctors and lawyers anymore. According to a recent study by Insurance consultancy Tillinghast - Towers Perrin, U.S. tort costs increased 14 percent in 2001 to $205 billion. Moreover, standard business owner policies do not cover client claims of negligence.

Protect yourself from unfounded lawsuits. Request free Liability Insurance Quotes from the industry's top providers.

What is Professional Liability Insurance? How does it work?

Professional Liability is a form of supplementary Business Insurance that augments a Business Owner Policy (including Business general Liability Insurance). Professional Liability covers financial losses and expenses generated by client claims of error, omission, or negligence. It also can protect against slander, libel, and breach of contract.
Specialized Professional Liability Insurance (also known in some professions as Errors and Omission Insurance or E&O Insurance) is available for many professions, including Accountants, Architects, Contractors, Dentist, Doctors, Engineers, and Insurance Agents. To be eligible for Professional Liability Insurance, candidates must have proof of license in their "covered class of business".
Professional Liability policies feature a claim limit and an annual limit, based on the policyholder's liability exposure. The claim limit, is the maximum that will be paid for any single event, while the annual is the maximum that will be paid in any one year. Typical limits rage from $250,000/$500,000 to $2,000,000/$4,000,000.

Benefits of Professional Liability Insurance...

Safeguard your business from catastrophic loss in the event of a frivolous client lawsuit.
Provide your clients and additional assurance that your practice or business is licensed and legitimate.