Professional liability insurance protects people and businesses who give advice or provide a service when a client claims a mistake cost them money. It pays for your defense and any damages awarded, up to your limit.
It covers claims a general liability policy usually doesn't: errors, omissions, negligence or failure to deliver the service you promised. It often pays defense costs even when a claim turns out to be groundless.
It goes by other names
In medicine it's called malpractice insurance. Consultants, real estate professionals, agents and brokers often call it errors and omissions, or E&O.
Who carries it
- Accountants and financial professionals
- Doctors, dentists and other health care providers
- Attorneys
- Consultants and technology professionals
- Photographers and creative professionals
- Real estate professionals
- Contractors who provide design or advice
Some professions are required by law or by contract to carry it. We'll help you decide whether your business needs it and how much.
