Is My Business Protected if I am Sued?

Website: www.hiscox.com

Material excerpted from: Liability

What is Professional Liability Insurance?

Professional liability insurance, also called errors and omissions insurance (E&O insurance) or indemnity insurance, protects your business if you are sued for negligently performing your services, even if you have not made a mistake.

A customer could sue you because you did something you should not have, or you did not do something you should have, in the course of providing professional services. A professional liability insurance policy could protect you by covering the cost to defend yourself, as well as any settlement or judgment.

Why do I need Professional Liability Insurance?

Professional liability insurance coverage gives your business protection from the risks you face in delivering your professional services. The section below discusses everything our professional liability insurance coverage offers since we want you to feel secure about what your policy does and does not cover. You should consider professional liability insurance coverage if your business:

• Provides a professional service.

• Regularly gives advice to clients.

• Is requested by a client to have professional liability insurance to complete a contract.

How much does Professional Liability Insurance cost?

The cost of professional liability insurance coverage varies based on the size of your business, the industry you are in, your location, and the amount of coverage you need.

What does Professional Liability Insurance cover?

• Alleged or Actual Negligence

• Defense Costs

• Personal Injury (e.g., Libel or Slander)

• Temporary Staff and Independent Contractors

• Claims Arising from Services Provided in the Past

• Worldwide Coverage

What your Professional Liability Insurance policy does not cover:

We want our customers to fully understand what they are buying. Below is a summary of some of the key exclusions of your professional liability policy. For complete details of all the exclusions, please read the policy wording.

• Bodily Injury or Property Damage

• Fraudulent Acts

• Employment Matters

• False Advertising

• Personally Identifiable Information

• Other Services

Get Liability Insurance that best meets your needs

General liability insurance will not protect you from everything. For example, general liability insurance will not cover you against claims of negligence, even if it is not you or your business’ fault. Some people buy other businesses liability insurance along with general liability.

General Liability

The basic protection for claims against your business.

Professional Liability (E&O)

Protection for specific risks in your field.

Business Owners Policy

General Liability plus coverage for property.

Cyber Security

Protection from cyber-related security risks.

Short-Term Liability

Purchase coverage for a specific period of time.

Medical Malpractice (E&O)

Protection for claims against your medical practice.

Workers Comp

Protection for employees who are injured or become ill on the job.

More Coverages

Umbrella, Auto, and more.

Review your Liability Coverage and make sure your business survives a lawsuit,

call today: 1-800-568-SAVE (7283) or email us at service@hometowninsurance.com.

Hometown is here for you!