Make this coverage an essential part of your business insurance portfolio. Note: professional liability insurance is also called errors and omission.
Professions That Need Professional Liability Coverage
The definition of a professional is an individual whose vocation requires special training and abilities. Initially, this meant accountants, lawyers, architects, engineers and medical professionals like doctors and nurses. To work in these fields, the practitioners usually have to have formal training, pass an exam and get credentialed.
Additional occupations also have requirements and codes of conduct. These include real estate agents, computer technology professionals, educators, etc.
What Professional Liability Insurance Covers
This coverage provides protection against certain types of lawsuits. These are suits that arise from negligent acts or Errors & Omissions. It means that the client has suffered economic harm, usually the loss of money, as a result of a negligent act, Errors & Omissions, while the professional service was being rendered.
Keep in mind that professional liability coverages are different than the bodily injury, property damage and personal injury lawsuits that would be classed under the general liability portion of the business insurance package. In fact, Professional Liability coverage is meant to complement the general liability portion of the business policy.
Gerard P. Smith Insurance Agency- Rochester Business Insurance Professionals
The Gerard P. Smith Insurance Agency is local to the Rochester area. As a strong independent agent, we represent several companies who offer a wide variety of errors and omissions policies for Rochester area businesses.
We’ll help you design your insurance portfolio complete with all of the liability coverages you need for your business.
Contact us for a no-obligation discussion about the liability insurance options that best suit your company or fill out the form on this page for your free insurance quote.