Professional Liability (also known as Errors and Omissions) Insurance is supplementary liability insurance that enhances any business owner’s policy by safeguarding against catastrophic loss in the event of a lawsuit due to a negligent act, error or omission by the professional. 

Who Needs Professional Liability?

It is appropriate coverage for anyone who gives advice, makes educated recommendations, designs solutions, or represents the needs of others. Professionals, such as doctors, lawyers, accountants, architects, insurance agents, along with a growing number of other occupations, need special protection.

The need for professional liability coverage developed due to typical general liability insurance policies only responding to bodily injury, property damage, personal injury or an advertising injury claim. Because professionals such as architects, lawyers, physicians, real estate brokers, technology consultants, and others can cause claims without bodily injury, property damage, personal injury or an advertising injury claim, additional coverage is needed to fill this gap.

What Does Professional Liability Cover?

Professional liability insurance covers liability for damages arising from the rendering of or failure to render professional services.

Common claims made on these policies include negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice. For example, if a Web design platform fails to perform properly, it would not cause bodily injury, property damage or advertising injuries. Because of this, the general liability policy would not be triggered. But because the Web design platform not performing correctly could directly cause financial losses, and may be attributed to a misrepresentation of the platform’s capabilities, the professional liability coverage would be triggered.

 

You have invested a lot in your business and your profession. It is important to be sure that you take the steps to deal with the special as well as the routine sources of loss. 

Testimonial

"I am a sales professional / manager and always emphasize to the people I train the importance of quick and personable service. I left my last insurance company because they were bought out and the new service was horrible. I've always used a brokerage services because I want to see options and from the moment I contacted Tony & Roya at Neckerman I was certain my search was over. They are a great team, attentive, responsive and professional. I was able to feed in all my info online quick and easy. Inside of a day of shopping my bundled policy needs around I received a numerous competitive options and was able to make the switch immediately. Unfortunately for me we've had to file a few claims and both times they've walked me through the process, again everything was submitted online, quick and easy with great follow up. Very happy with the move, not only will I be staying but I will be referring my clients and customers Neckerman's way as well."

- Dan B.