A Digital Division of WCL Bauld
If you provide professional services your basic general liability policy is not sufficient. General liability only responds to Bodily Injury or Property Damage for which you are legally liable to third parties. Professional liability provides protection against causing financial harm for services or advice offered in a professional capacity. A customer can claim you have caused harm even without merit. This could force you into paying out of pocket expeses to defend yourself. Having errors and omissions (E&O) liability coverage built into your policy can help mitigate costs associated with these types of lawsuits.
Below are some examples of professional services that should be protected:
Errors and omissions insurance (E&O) is a type of professional liability insurance that protects companies and their workers or individuals against claims made by clients for inadequate work or negligent acts causing financial harm.
Insurance that is used to cover any type of commercial property, including equipment you use for your business.
Cyber Insurance protects your business against liability claims arising from data breach or theft of customer data through your computer systems.
Commercial General Liability Insurance coverage is designed to protect you against third party claims of property damage or bodily injury.
Directors and Officers Liability Insurance (often called "D&O") is payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.
Media Liability Insurance helps companies defend suits that arise from their gathering and delivery of media such as education, news, commentary, services and entertainment. It protects against claims arising from alledged defamation, invasion of privacy, infringement of copy right and trademarks.