Professional Insurance Services
Professional liability insurance policies are usually claims-made, which means coverage is good only for claims made and events occurring while the policy is active. You might also find occurrence policies, which means you're covered if an incident occurred while you had coverage—even if you let your policy expire and a client files a claim against you after it expired. However, occurrence policies are rare in this field. Typical professional liability policies will indemnify the insured against loss arising from any claim or claims made during the policy period because of any covered error, omission, or negligent act committed in the conduct of the insured's professional business during the policy period. Coverage does not include criminal prosecution, nor all forms of legal liability under civil law—only those listed in the policy.
Examples of liabilities not covered by PLI are:
- Employee injuries
- Employee discrimination lawsuits
- Vehicle business use
- Bodily injury
- Business property damage
- Customer injuries or damages
Professional Insurance
Errors and Omissions Insurance (E&O)
Many people rely on experienced professionals for trustworthy advice on matters such as legal issues, tax preparation, investing, and home buying. While these professionals typically provide sound advice, mistakes can happen. Inaccurate or faulty information could lead to financial loss or even lawsuits.
Fortunately, there is a type of insurance that can protect professionals in these situations. Errors & Omissions (E&O) insurance, also known as professional liability insurance, is a separate policy from a standard general liability insurance policy. It can offer coverage for professionals who may face lawsuits due to mistakes or inaccurate advice. It covers:
- Alleged or actual professional negligence
- Undelivered services or missed deadlines
- Inadequate work
- Giving incorrect professional advice
- Copyright infringement
- Breach of nondisclosure
- Claims of libel or slander
- Data breaches
Common professions that use errors and omissions coverage include:
- Lawyers
- Accountants
- Financial advisers
- Architects
- Engineers
- Wedding planners
- Veterinarians
- Doctors
- Dentists
- Insurance agents
- Counselors
- Marketing firm
Malpractice Insurance
Claims of negligence and wrongdoing are common for licensed professionals. Even when you do everything according to proper procedure, defending yourself against claims can cost thousands of dollars, so professional liability insurance—also known as malpractice insurance—is a necessity to protect yourself. Malpractice insurance protects you if a client accuses you of wrongdoing while providing a service and sues you for damages. There are many professions and individuals that can benefit from malpractice and some of those are:
- Medical: Doctors, Nurses, Dentists, Chiropractors and more
- Legal: Firms, Lawyers, and Paralegals
- Architects/Engineers: Individual or Firms
- Beauty/Wellness: Estheticians, Massage Therapists and other wellness professionals
Directors and Officers Insurance (D&O)
It protects your business and its leaders (directors and officers) from lawsuits filed by employees for misrepresentation of company assets, non-compliance with workplace laws, fraud, breach of fiduciary duty, etc. It covers:
- Legal expenses
- Settlement costs
Workers’ Compensation Insurance
As an employer, you need to keep your employees safe, and we can help you do that. Our customized workers’ compensation insurance provides financial benefits to your employees injured at work while protecting your business from lawsuits resulting from such incidents. It covers:
- Medical bills
- Disability expenses
- Lost wages
- Ongoing care costs
- Death benefits
- Legal expenses incurred by the employer
Employment Practices Liability Insurance (EPLI)
With employment-related claims increasing and settlements getting expensive, protecting your business against such incidents is essential. Our customized EPLI insurance coverage protectDirectors and Officers Insurance (D&O)s your business by paying for damages and defense costs incurred from employees claims, including allegations of:
- Wrongful termination
- Harassment
- Discrimination
- Failure to promote
- Retaliation
- Other employment-related issues
