Professional Liability Insurance
Professional Liability Insurance
Covers professionals against claims of negligence or inadequate work, also known as Errors and Omissions (E&O) insurance.
Main Coverages
- Negligence: Covers claims arising from professional negligence, errors, or omissions that result in financial loss or harm to clients.
- Legal Defense Costs: Covers the legal expenses incurred in defending against claims, including lawyer fees, court costs, and other related expenses.
- Breach of Duty: Covers claims alleging a breach of duty owed to a client, resulting in a financial loss.
- Misrepresentation: Covers claims arising from incorrect or misleading information provided to clients.
- Defamation: Covers claims for libel or slander arising from professional activities.
- Loss of Documents: Covers the cost to replace or restore lost or damaged documents that are vital to a client’s business.
- Intellectual Property Infringement: Covers claims related to the unintentional infringement of intellectual property rights, such as copyright, trademark, or patent infringement.
- Employee Dishonesty: Covers claims arising from fraudulent or dishonest acts committed by employees, if this extension included in the policy.