Professional Liability Insurance
What is it?
Professional liability insurance, also called errors and omissions insurance (E & O insurance) or indemnity insurance, protects your business if you are sued for negligently performing your services, even if you haven’t made a mistake.
What is covered?
- Alleged or actual negligence
- Defense costs
- Personal injury (e.g., libel or slander)
- Worldwide coverage
- Temporary staff and independent contractors
- Claims arising from services provided in the past
- Claims and damages
What is not covered?
- Bodily injury or property damage
- Fraudulent acts
- Employment matters
- False advertising
- Patents and trade secrets
- Personally identifiable information
- Other services
Professional liability insurance helps cover common claims including negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice.