Professional Liability Insurance
Pinellas Park

If you are facing a lawsuit alleging financial harm resulting from the failure of your product or service, this liability coverage can provide defense and indemnification.

Our team will help you assess the risks your professionals face when acting in their respective capacities. We will also help you craft a risk management plan with comprehensive insurance that covers these key liabilities.

Protect your business against lawsuits

Professional liability insurance protects your business from lawsuits, court and legal fees, administrative costs and damages. There are various instances where professional liability coverage can protect your business from litigation. One example is failing to provide a service such as software development, within the required completion deadline. This negligence can set back a company’s operations, resulting in financial harm that your company could be sued for. A professional liability policy will cover damages and provide for the cost of litigation for a covered claim.

Technologies errors and omissions insurance

Another example is failing to provide the most recent information concerning a given product or providing a product that damages the end-user asset, such as a computer. In both instances, you could face lawsuits for the damages. Professional liability is sometimes referred to as technologies errors and omissions insurance. The two are the same except a technology errors and omissions policy is more specific to the communication and technology businesses. Our advisors will conduct a comprehensive risk assessment to identify all professional liabilities your company faces. We will also help you determine what risk you should retain or transfer to another party.

Frequently Asked Questions

• Who needs professional liability insurance?
  This answer can vary from person to person, but a good rule of thumb is anyone who makes a living off their expertise. Examples of careers that can benefit from a professional liability insurance policy include: Architects Engineers General contractors Real estate agents Insurance professionals Land surveyors If you're still unsure, do a brief self-evaluation by asking yourself the following question: Do you provide professional services or advice to other businesses or individuals? If your answer is yes, it is strongly recommended you protect yourself and your business with an errors and omissions insurance policy. For some professions, there are federal or state laws in place requiring professional liability insurance. The list of occupations is long, and you will likely need to do some research into your local laws to make sure you aren't violating any. However, examples of careers with professional liability insurance coverage requirements by state include: Government contractors If you work on any project under a government contract, you are legally required to carry and maintain a professional liability insurance policy. Medical professionals This is not limited to surgeons and general physicians. Other medical professionals who may need or benefit from the specialized medical professional liability insurance include social workers, therapists, counselors, physical therapists, and pharmacists.
• What does professional liability insurance look like?

  Not every professional liability insurance policy looks the same. Claims-made and occurrence policies are the two most common coverage options. While both give you a second line of defense, they have fundamental differences.

  1. Claims-made policies only cover a claim if both the service or advice was provided and the lawsuit was filed while the policy was active.
  2. Occurrence policies will cover claims that take place during the coverage period, even if the treatment did not occur during the active policy.
• What is professional liability insurance?
  As a trained professional in your field, you are legally responsible for providing clients with trustworthy advice or service. You are good at what you do, but it's important to keep yourself safe in the event an accident happens. Additionally, you could face a lawsuit any time a client thinks you've made a mistake regardless of if you did or not. Protect yourself and your business from any mistakes or oversights with small business liability insurance.
• What does executive and professional liability insurance cover?
  Much like the name implies, errors and omissions insurance protects your business from litigation based upon any errors or accidental omissions you make, along with the failure of your work to perform as promised or intended. It's important to remember that executive and professional liability insurance is different from general liability insurance. While they may sound similar, E&O insurance covers damages or harm that arise from your direct actions. In contrast, general liability insurance can help cover claims that your business caused injury to a third party by property damage, bodily injury, or copyright infringement. Here are a few examples of coverages included in a professional liability (E&O) insurance policy: Negligence Misrepresentation Violation of good faith and fair dealing Inaccurate advice Undelivered services Missed deadlines Incomplete work Break of contract