Professional Liability

Liability protection for advice and services

Protect yourself from costly mistakes

Also known as Errors and Omissions (E & O Insurance), professional liability insurance protects your business from claims of negligence related a professional service.

Who needs professional liability insurance?

Small 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.

Professional liability insurance can also be required by a small business' clients when entering into a contract.

Types of coverage

Professional liability insurance offers a variety of coverage for small businesses:

  • Alleged or actual negligence – 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.
  • Defense costs – Provides legal defense when a covered claim is reported.
  • Personal injury (e.g., libel or slander) – Can provide protection for small businesses against both libel and slander if it's committed as part of your professional services.
  • Copyright infringement – Can provide coverage for damages or claims expenses for copyright infringement.

Professional liability insurance can also offer coverage for claims from services provided in the past and work performed anywhere in the world.

Professional liability insurance cost

Various factors play a role in determining the cost of your professional liability insurance. Particularly:

  • Your business type
  • Your location
  • The coverages limits you select
  • The amount of employees you have

For example, a company with a large number of employees typically has a higher level of exposure, therefore will most likely pay more than a company with fewer employees.

Whether it’s just you or you have 20 employees, check your eligibility to start protecting your business today.