Professional Liability Insurance or Errors & Omissions insurance protects you against loss from a claim of alleged negligent acts, errors or omissions in the performance of your professional services. This might include claims of non-performance, fraud or negligent oversell.
Professionals are expected to have extensive technical knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired, according to the standards of conduct in their profession. If they fail to use the degree of skill expected of them, they can be held responsible in a court of law for any harm they cause to another person or business. When liability is limited to acts of negligence, professional liability insurance may be called "errors and omissions".
Let us do all the hard work of shopping for the best professional liability insurance program for your business. We represent different insurance carriers which allow us to provide you the best insurance rates and coverage. Trust it to the CIA, we have ways of making things happen for you!!
On top of your regular professional liability insurance policy there are some additional policies that you may need to make sure that your business is fully covered.
This coverage is a requirement in most states if you have employees. It provides coverage for bodily injury, medical bills, loss of income, death for all employees, full time or part time.
If you are a manufacturer, distributor, supplier, or retailer who makes products available to the public you may want to get product liability coverage.
This provides coverage for your business property for fire, theft, vandalism on premises, or if Inland Marine while off premises. If you cannot afford to lose your inventory to theft or fire, this is an important coverage to purchase.
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Your personal auto policy has an exclusion for business use so you will have no coverage under your current auto insurance policy. A commercial auto policy will cover you for both business use and personal use. If you use a trailer to carry your rentals to the location add this unto your policy.
Cyber Liability coverage is ecspecially important if you process credit cards or obtain personal information from customers.
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