Professional liability
Errors and omissions
Professional-liability insurance for firms that can face claims that their services or advice caused financial loss.
E&O insurers review the services provided, contracts, controls, clients, earlier work, known claims, and when coverage for prior work begins.
Who this covers
- Property managers
- Consultants
- Professional service firms
- Eligible real-estate operations
- Other advice-based businesses
What underwriters look at
- Covered professional services
- Claims-made reporting (claims generally must be made and reported within the policy's allowed period)
- Retroactive date (the earliest date covered work may have occurred)
- Contractual liability (responsibility assumed under a contract)
- Defense costs and how they affect the limit
Common questions
Is E&O occurrence-based?
Many E&O policies are claims-made, but the actual form controls. Check its reporting deadlines and the date from which earlier work may qualify for coverage.
Does general liability replace E&O?
Usually not. General liability and professional liability address different allegations and contain different terms.
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Tell us about the services provided.
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