Professional liability insurance, also known as errors and omissions or E&O insurance, covers negligence as it pertains to the professional services you provide. E&O insurance can cover the cost of defending your company in a civil lawsuit and certain damages awarded, even if the legal action turns out to be groundless. Professional liability insurance is required by law in some areas for certain kinds of professional practices, especially medical and legal, where it is more commonly called malpractice insurance. This type of protection is usually not part of your general liability insurance.
Many types of businesses need professional liability insurance. If your company works directly with customers and provides certain services or consults, you should consider professional liability insurance.
Legal professionals, Real Estate professionals or Technology professionals should consider an E&O policy.
Design Professionals should consider this important coverage. We have providers who can help the following businesses in the design field:
Architects • Civil engineers • Electrical engineers • Environmental engineers and consultants • Landscape architects • Land surveyors • Mechanical engineers • Structural engineers • Other construction and design consultants
Some professional liability coverage falls under what is called Miscellaneous Professional Liability which we would write for a Photographer. Other types of E&O coverage are industry specific such as Barbers and Beauticians Liability.
Even if you’re an expert in your field, you may make a mistake and if the client or customer thinks the mistake impacted them financially, you may be sued. Contact one of our Commercial Specialists at Agape Insurance Partners and we will discuss your specific situation and help determine if an E&O policy is right for you.