Professional liability insurance

Professional liability insurance is also known as errors & omissions (E&O).  This insurance coverage protects professionals that give advice and assist from bearing the full cost of defending against a negligence claim made by a client and any damages that could result from a lawsuit. 

Professional liability focuses on an alleged failure to perform claim. It also covers financial losses caused by an error or omission related to a service or product sold by the policy holder.  These are causes for legal action that are not covered by a general liability policy.  

Professional liability insurance may take on different forms and names depending on the profession, especially in the medical and legal field. Professional liability is sometimes required under contract by other businesses that are the beneficiaries of advice or a service.

Arena Insurance Brokers will assist in providing you with a customized professional liability insurance quote for:

    • Realtors / Brokers
    • Insurance Agents / Brokers
    • Travel Nurses
    • Physicians
    • Attorneys
    • Dentists / Orthodontists
    • Architects / Architecture Firms
    • Landscape Architects
    • Independent Contractors
    • Engineers
    • Land Surveyors and Geographic Mapping

In a competitive business environment, it is important that you protect yourself against legal claims for the specific work you do.

What does professional liability Insurance Cover?

    • Errors and omissions in the work you perform
    • Negligence in performing your work
    • Misrepresentation of your business

Professional liability insurance for professional practices is more critical in today’s litigious society.

Why do you need professional liability insurance?

If you are providing a service, advising or consulting, you need professional liability insurance to cover mistakes, problems with finished products or disagreements in payment to name a few. Often, you will need professional liability insurance as part of your contract or agreements to work. You have a fiduciary responsibility
Most professional associations encourage its members and members’ firms to take a proactive approach to protecting their business through specialized professional liability insurance. 

Your Risk Management Partner

Managing the financial risk variables, you or your company could be exposed to is critical to maintaining your success and reputation. Professionals are constantly faced with unexpected hurdles and need to deliver solutions faster and at a lower cost, which can pose increased risk and challenge your business if you do not have a plan to mitigate the risk. An Arena agent will work with you side by side to formulate a risk management strategy.

Professional liability insurance

Protecting your success and reputation