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Professional Liability Insurance for Your Business

As a professional, in addition to your firm being exposed to general liability hazards, such as the risk of an injury to a customer visiting your premises, you also face exposures related to the specific services you provide. These exposures vary by profession and may result in allegations of financial damage by a client that result in claims against you, costing you both money and your good standing. For example, an attorney is the target of a lawsuit alleging conflict of interest in a case that didn’t go the client’s way. A real estate agent during a sales transaction mistakenly confirms a building is ADA-compliant based on an old report and is later sued by the new owner when upgrades need to be made.

These and other types of similar claims are covered by Professional Liability insurance, also known as Errors & Omissions (E&O) insurance. ISU-The Olson Duncan Agency is well versed in the many types of policies available, ensuring that your Professional Liability coverage is customized to your profession and the specific services you provide so that you are properly protected.

What Is Professional Liability Insurance?

Professional Liability insurance is designed to cover you in the event a client holds you responsible for a service that was provided, or failed to be provided, and did not have the expected or intended results. Professional Liability insurance policies cover defense costs and any resulting settlements and judgments against you or your company, up to the coverage limits on the policy. Additional enhancements can also be added specific to your profession, which we can discuss with you in detail.

Who Needs Professional Liability Insurance?

Any company in the business of providing a service to clients for a fee faces a professional liability exposure and should purchase this coverage, including but not limited to:

  • Accountants
  • Architects/Engineers
  • Consultants
  • Financial Institutions
  • Healthcare Providers
  • Attorneys
  • Real Estate Agents
  • Technology Companies
  • And Many Others

Our Value

At ISU-The Olson Duncan Agency, we look to provide clients with a total solution, not simply a quote or an insurance contract. Our goal is to provide real value and build a long-term relationship based on trust. This is underscored by the fact that we provide our clients with their risk management and insurance solutions, including property & casualty, employee benefits and personal insurance. To find out more about how we can help you, call us at (310) 373-6441.