Coverage Overview
Professional Liability insurance, also known as Errors and Omissions insurance (E&O), protects you and your small business against client charges of negligence or injury for the professional services you provide. Whether you are at fault or not, you are protected against losses, attorney fees and even court costs.
Medical malpractice coverage is a specialized form of liability insurance that protects physicians, nurses and other medical practitioners from claims or litigation from disputed services that may have brought injury or a negative experience to the patient.
Do you need professional liability insurance?
Small businesses that provide a specific service, such as technology, insurance, accounting, tax, wealth management, legal and other types of professional services need this type of coverage. In many cases, if you enter into a contract with a client you will be required to carry E&O.
Do you need medical malpractice insurance?
Medical liability insurance is required in most states, and most medical facilities need medical malpractice coverage to provide care. The type and amount of insurance you need will depend on your state's minimum requirements and the amount of protection you need for your specialty.
An E&O policy protects you from:
- Alleged or actual negligence
- Personal injury
- Copyright infringement
- Punitive damages
- Claims against services previously performed
- Claims against temporary staff and independent contractors
- Your work done anywhere around the world
- Related defense costs
Want to learn more? Contact our small business risk experts.