Professional Liability Insurance
Your reputation and livelihood need protection from costly lawsuits over mistakes or missed expectations so you can focus on your professional responsibilities.
Why does your business need it?
- Claims of negligence can happen to any professional
- Legal costs and settlements can be devastating
- Many contracts require proof of liability coverage
- Errors, omissions and misrepresentations happen
What does our coverage do?
- Covers legal defense for professional mistakes
- Pays for settlements or judgments against you
- Protects your finances and your reputation
- Helps you stay compliant and credible with clients
Understand exposure risks with pros.
Even small mistakes can lead to large claims. Our agents help clients like you protect against errors, omissions and allegations that can threaten your business.
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Professional negligence
A client who believes your service fell short of expectations can accuse you of negligence or carelessness.
Errors and omissions
Even minor oversights or misstatements in a report, contract or advice can expose you to liability for financial losses claimed by your clients.
Bad advice allegations
If your recommendation leads to a client’s loss, they may allege poor guidance or misrepresentation, even when you acted in good faith and within industry standards.
Confidentiality breaches
Sharing sensitive client data or project information by accident can result in claims for breach of privacy or confidentiality violations.
Inaccurate documentation
Incorrect figures or misstated details in contracts or reports can lead to claims that you misled clients.
Our professional liability insurance can cover
- Accountants
- Healthcare professionals
- Lawyers
- Miscellaneous professionals
- Technology errors and omissions
Frequently asked questions about professional liability insurance
Small and family-run businesses run many of the same risks that larger ones do, but as a smaller firm the consequences of a claim of negligence against you could be more personally damaging. Professional liability insurance that aligns with the size and type of your business makes sense if you want to protect your livelihood and your business, achieve your goals and reach your potential.
Accountants, lawyers, physicians, real estate agents and brokers, architects, engineers, consultants and others — from advertising agencies to wedding planners — are expected to meet a high standard of professional conduct risk claims of errors and omissions or negligence in their work, resulting in a financial or other loss to a third party that could lead to a lawsuit against you.
The cost of professional liability insurance will depend on several factors. You could pay a lower premium if your company has a proven track record of financial and risk management stability. That’s why you should seek the expert advice of an insurance partner who can properly assess your exposure and ensure that your interests are protected.
Your policy won’t cover claims for accidental injuries or property damage to others, lawsuits arising from employment practices or illnesses and accidents suffered by employees, and illegal acts or intentional wrongdoing, for example. Also typically excluded is coverage for cyberattacks or data breaches, for which you will need a separate policy.
