GuideProfessional Services
Insurance Checklist for Consultants, Accountants and Agencies
A practical checklist of the coverage professional services firms need, from E&O and cyber to office contents and key person protection.
3 min read
Business Insurance/
Professional Liability Insurance
Protection for professionals against claims of errors, omissions, and negligence. Essential coverage for anyone providing professional advice or services.
Key Features
What professional liability insurance covers.
Professional negligence
Errors & omissions
Defense costs
Settlement coverage
Regulatory proceedings
Prior acts coverage
Coverage Details
What's included.
Professional Negligence
Coverage for claims alleging failure to perform professional services to expected standards.
Errors & Omissions
Protection against claims arising from mistakes or failures in professional work.
Defense Costs
Legal defense costs are covered even if claims are ultimately groundless.
Regulatory Defense
Coverage for legal costs when facing regulatory investigations or disciplinary proceedings.
Who Needs This
Is professional liability insurance right for you?
Professional Liability insurance is essential for businesses that want to protect against specific risks in their operations. Here's who typically needs this coverage:
Consultants
Accountants
Lawyers
Engineers
Architects
IT professionals
Healthcare providers
Financial advisors
FAQs
Common questions.
What is the difference between professional liability and general liability?
Professional liability covers financial losses from professional errors and advice. General liability covers bodily injury and property damage. Most professionals need both.
Do I need professional liability as a consultant?
Yes. Consultants providing professional advice face significant E&O exposure. Client contracts often require proof of professional liability coverage.
What is prior acts coverage?
Prior acts coverage extends protection to professional work performed before the policy inception date. This is important because claims often arise years after work is completed.
Coverage Guides
Understand the difference
Industries We Serve
Professional Liability coverage for your industry
Explore other coverage types
Insights
Reading on professional liability
GuideRetail & Wholesale
E-commerce and Retail Insurance: Product Liability, Inventory and Shipping Risk
Whether you sell from a storefront, a website or both, here is how to protect inventory, shipments, customers and your online operations.
3 min read
ArticleTechnology
Tech E&O and Cyber: Why SaaS Companies Need Both
Technology errors and omissions and cyber insurance protect against different failures. For SaaS companies, gaps between them are where claims fall through.
3 min read