Professional Liability insurance, also known as Errors and Omissions (E&O Insurance), is protection for your business from claims of negligence related to a professional service.
Who needs professional liability insurance?
Businesses that provide professional services or give advice to clients should consider purchasing professional liability insurance. It provides protection when a business owner is sued for negligence because their work doesn't meet a client's expectations.
Businesses that should carry professional liability insurance can include:
Real estate agents
Professional liability insurance protects a business against actual or alleged errors and omissions when providing professional services, such as giving incorrect advice, an omission, or failing to deliver a service.
Professional liability insurance can also offer coverage for claims arising from services provided in the past and work performed anywhere in the world.
It's important to understand that a general liability policy won’t protect against these risks.
Our expert commercial brokers can help advise you on setting up a policy to protect your unique business. Call us today, or start a quote online.