International Risk Specialists for Over 50 Years.

Professional Liability (E&O) FAQ's

Questions and Answers on Professional Liability (E&O) Insurance

 1. What is Professional Liability (E&O) Insurance?

One can be an expert in their business.  However, at times mistakes can happen.  When one’s client relies on this mistake and a financial loss happens, they can sue.  Is your company prepared for the financial cost?  Professional Liability Insurance also is known as Errors and Omissions (E&O) Insurance, helps cover your company.

 2. What does Professional Liability (E&O) Insurance Cover?

Professional Liability insurance helps cover the following claims:

  • Negligence

  • Misrepresentation

  • Inaccurate advice

    Without this coverage, one would need to pay all legal costs out of pocket.

3. What does Professional Liability (E&O) Insurance Not Cover?

  • Bodily injury or property damage

  • Work-related injuries or illnesses

  • Data Breach

    We offer other types of insurance to cover these types of claims.

4. Who needs Professional Liability (E&O) Insurance?

Many types of businesses need and some are required to have professional liability (E&O) insurance.

You will want to get a policy if you do any of the following:

  • Have to sign a contract that requires you to carry coverage

  • Offer professional services directly to customers

  • Regularly give advice to your clients

5. How much does Professional Liability (E&O) Insurance cost?

Each company cost will be unique based on several factors that include:

  • Coverage limits

  • Type of business

  • Location

  • Business size, number of employees and clients

  • Years in business

  • Claims History