Commercial - Professional Liability/ Errors

Professional Liability – Generally, professional liability policies provide coverage for actual or alleged errors, omissions, negligence, breach of duty, misleading statements, and similar claims resulting from the performance – or non-performance – of professional services. Most policies cover both the defense costs (attorney fees, court cost) and settlements or judgments. Intentional wrongdoing is typically not covered.

E&O – Protects your company from claims if your clients hold you responsible for errors, or the failure of your work to perform as guaranteed in your contract. E&O policies are usually issued on a “claims made” basis. For a claim to be covered the alleged error or omission must be covered by the policy and must have occurred on or after the retroactive date of coverage, but before the policy's expiration date; and the claim must be made while the policy is still in force. To ensure protection, you must continue your coverage long after your engagement is complete.

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