Errors and Omissions
Miscellaneous Professional
Lawyers Professional Liability
Kidnap and Ransom
Representation and Warranties
Media Professional Liability
Cybertek & Internet Security
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Professional liability insurance, also called Errors & Omissions insurance, protects professional practitioners such as architects, quantity surveyors, home inspectors, lawyers, physicians, and accountants against potential negligence claims made by their patients/clients. Other potential E&O policyholders include, for example, real estate brokers, appraisers, and website developers. There are also specific E&O policies for technology companies, such as software developers, technology consultants and other creators of technology. This coverage focuses on the failure to perform, financial loss and error or omission of the products or services sold. Additional coverage for breach of warranty, intellectual property, personal injury, security and cost of contract can be added.
The primary reason for professional liability coverage is that a typical general liability insurance policy will only respond to a bodily injury, property damage, personal injury or advertising injury claim. The above mentioned professional services and products can cause claims without causing a bodily injury, property damage, personal injury or advertising injury. Common reasons alleged in making claims on these policies are negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice. For example, if a software product fails to perform properly, it may not cause physical damages, personal or advertising injuries, therefore the general liability policy would not be triggered. It may, however, directly cause financial losses which could potentially be attributed to the software developer's misrepresentation of the product capabilities.
Click on one of the links on the left to learn more about specific forms of Professional Liability Insurance.
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