If you or your company provide professional services and/or counsel, then you should consider professional liability insurance. In today’s blog post, we take a detailed look at this type of policy, including
What Is Professional Liability Insurance?
Also known as errors and omissions insurance (or E&O for short), professional liability insurance is a form of insurance designed to help professionals pay the cost of legal defense should they face claims of negligence or misconduct.
Professional liability insurance policies can be divided into two categories:
- Claims-made policies. Pays for claims only if the policy was in effect both when the event took place and when the lawsuit was filed.
- Occurrence policies. Protects against claims for events that happened during the policy coverage, regardless of when the suit is filed (including after the policy has lapsed).
Professional liability insurance protects you against claims of actual or alleged negligence. However, it doesn’t help pay for claims that arise from injury to others or damage to their property. If you are looking for that kind of protection, contact us to learn more about general liability policies.
Who Needs Professional Liability Insurance?
Generally speaking, any professional whose services or advice may lead their clients to incur losses should consider professional liability insurance.
In many cases, errors and omissions insurance is a requirement to perform certain professions, although this may vary from state to state. Also, you may find that some clients require you to have this type of policy in place as a condition to conduct business with you.
Some professionals that usually purchase professional liability insurance in Texas include:
- Physicians and surgeons
- Nurses
- Optometrists
- Healthcare professionals
- Dental professionals
- Lawyers
- Notaries public
- EMS medical attendants
- Insurance agents
- Nursing home professionals
- Podiatrists
- Veterinarians
Professional liability insurance is not typically included in business owners policies (BOPs), so if you don’t have this coverage in place already, this is a good time to get in touch with our experts at BZ Bee Insurance Services and get the protection you need.
Looking for Professional Liability Insurance in Houston, Texas? BZ Bee Is Here to Help!
From life insurance to boat insurance and everything in between, BZ Bee Insurance Services is here to help. We are located in Houston, Texas, and serve clients all over the Lone Star state.
To get a free quote, just contact us by email (ayalamariaeugenia@yahoo.com) or telephone (832-729-8114), or fill out the contact form on this website.
