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

"The group at Neckerman has provided exceptional service for the insurance needs of my business and my personal residence. Having a local, friendly representative meet with me conveniently at my office for discussions and paperwork played a big factor in my choice with Neckerman (thank you, Kyle Fetters). I appreciate the individualized service and would highly encourage anyone to consider Neckerman for their insurance needs."

- Katarina L.