Professional Liability/Errors & Omissions Insurance

• Financial Protection: It shields your business from potentially crippling legal costs and settlements related to claims of professional negligence or errors.
• Credibility and Trust: Demonstrates to clients that you are a responsible professional, enhancing your reputation and building trust.
• Operational Security: Ensures that your business can continue to operate smoothly, even in the face of legal challenges.

• Legal Fees and Court Costs: Covers the expenses of defending against a claim, regardless of the outcome.
• Settlements and Judgments: Pays for settlements or judgments if you are found liable for professional negligence.
• Claims and Allegations: Addresses a wide range of claims, from negligence to misrepresentation in your professional services.

• Intentional Acts: Any damages resulting from intentional wrongdoing or criminal acts are excluded.
• Bodily Injury or Property Damage: These are typically covered under other policies like General Liability Insurance.
• Employment Practices: Issues like harassment or wrongful termination are covered under Employment Practices Liability Insurance.

The cost of this insurance depends on various factors, including:

• Industry and Services Provided: High-risk professions like medical and legal services may face higher premiums.
• Business Size and Revenue: Larger businesses with higher revenues generally pay more for coverage.
• Claims History: A history of claims can increase your premiums.