understand the complexities and risks associated with providing professional services. Professional Liability Insurance, also known as Errors and Omissions Insurance, is essential for any professional who provides advice or services to clients. This coverage protects you against claims of negligence, misrepresentation, or mistake in the delivery of your services, which could otherwise result in significant financial and reputational damage.
Professionals are expected to have extensive technical knowledge or training in their particular area of expertise, and they are also expected to perform the services for which they are hired competently. When things go wrong, professionals can be held legally responsible for damages resulting from their actions or omissions, as well as the costs of defending against these claims. Professional Liability Insurance helps to mitigate these risks, covering legal fees and damages up to the policy limit.
Covers legal obligations arising from professional errors, negligent acts, or omissions during the course of your practice.
Pays for legal defenses, even if the claim proves groundless.
Covers court awards and settlements up to the limit of your policy.
Essential for professionals serving clients in multiple countries, provided the claim is brought within the country covered by the policy.
Protects against claims arising from acts that occurred before the purchase of your current policy, provided you were unaware of the claim at the time you secured coverage.
Offers the option to report a claim after the policy has expired for acts that occurred during the policy period.
Choosing the right Professional Liability Insurance is critical. Our team of insurance experts is committed to guiding you through the coverage options and ensuring that your policy is perfectly tailored to your professional needs. We provide ongoing support and advice, helping you navigate potential risks and maintain your professional integrity.
Professional liability insurance, also known as errors and omissions (E&O) insurance, protects professionals against claims of negligence or harm due to mistakes or failure to perform their professional duties. It covers legal defense costs and any resulting settlements or judgments.
This type of insurance is essential for anyone who provides professional services or advice, including consultants, accountants, lawyers, architects, engineers, healthcare providers, and IT professionals, among others. It helps safeguard against claims that could be financially devastating.
While not generally required by law, it may be mandated by industry regulations or client contracts. Many clients insist on proof of professional liability insurance before engaging services to ensure protection against potential losses.
Contact us today at Able Insurance. Our expert advisors are here to help you find the best coverage and answer any questions you may have.
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