Professional Liability (Errors & Omissions) Insurance

Professional services are those rendered by people who have special training or higher education degrees or certifications to perform such work, such as:

• Doctors
• Nurses
• Dentists
• Attorneys
• Accountants
• Architects
• Engineers
• Consultants
• Designers
• Realtors

Whether they’re based in Miami or a surrounding area, when these professionals provide services or offer advice that result in loss or damage to someone, a professional liability policy from iSure Insurance Brokers can be the only thing standing between the professional – and professional ruin.

Policy pays when you are liable

In the event you are sued for errors and omissions or negligence in the course of rendering your professional services, a policy from iSure can be designed to pay for court fees, defense costs, and resulting damages or settlements up to the coverage limits you select. Because the cost of defense can substantially eat away at the amount of your coverage (thus reducing the amount left available to cover damages), you can have your policy written to pay defense costs outside of the policy’s liability limits.

Also, the policy can be written to cover claims for work that was done before you obtained your policy, or protects you for some time after the policy expires. This may be helpful in situations where you are teaming with another professional, because doing so could expose you to your partner’s own risks.

Some exclusions apply

In most cases, professional liability coverage is limited to economic and financial losses incurred by third parties, as opposed to bodily injury or property damage. This is because liability for those occurrences would be protected under your general liability coverage. Likewise, a general liability policy excludes coverage for professional liability so you can see why it can make sense to have both. Also, intentional or dishonest acts are excluded from coverage.

Protect yourself with a policy

Consider that the cost of a single professional liability claim could be enough to put you out of business. Your iSure advisor can tell you exactly how this coverage fits snugly into your overall insurance program.