Insurance coverage
Professional liability insurance for the work clients count on
When a client believes your advice or services cost them money, a general liability policy may not address the claim. Professional liability, often called errors and omissions insurance, is designed for that different kind of exposure.
Your professional work
Start with what you actually do for clients
A consultant, an insurance agency and a healthcare practice can all need professional liability insurance, but their policies should reflect very different work. The services described in your application matter. So do the people doing that work, the contracts you sign and the responsibilities you take on.
At BIG, we start with those details before comparing options. If a client has asked for a certificate showing E&O coverage, send us the insurance requirements along with your current policy. That gives us a more useful starting point than a requested limit alone.
Comparing your options
The wording deserves as much attention as the premium
Professional liability can help with defense costs and covered claims alleging mistakes, omissions or negligence in your professional services. It does not mean every unhappy client or disputed invoice creates a covered loss. The policy’s definition of professional services and its exclusions shape the protection you are buying.
When comparing renewal options, ask how defense costs affect the available limit and how the deductible applies. If the policy is written on a claims-made basis, the retroactive date and reporting requirements also need attention before you change insurers. A lower premium is useful only when you understand what changes with it.
Getting a review started
Bring your policy and a clear picture of your services
Share your current declarations and policy forms, annual revenue, the kinds of clients you serve and any claims history. Let us know about new services, subcontractors or contract requirements that were not part of last year’s application.
We can use that information to review your current protection and compare available options. For a practice with several professionals, we will also discuss who needs to be included and whether their work is insured individually, through the business or both.
Related coverage and industries
Explore your options
Coverage for claims involving injuries to others, property damage and related liability.
Cyber InsuranceReview cyber insurance for incident response, business disruption and claims involving customer information.
Counseling & Healthcare PracticesInsurance reviews for counseling and healthcare practices, with attention to services, premises and patient information.
Coverage references
General information. Coverage depends on the policy, exclusions and underwriting.