Professional Liability

Professional liability coverage protects against claims or suits brought against you, your employees, or your firm as a result of negligent acts, errors, or omissions resulting from you providing or failure to provide professional services.

A professional liability policy is often written on a “claims-made form” which means the policy must be in force at the time a claim is made in order for coverage to apply. If you have had continuous, uninterrupted professional liability coverage in the past, “prior acts” coverage will apply. This coverage gives you insurance from the date your first policy went into effect. If you have had no coverage in the past, or have had a lapse of coverage at some point in the past, coverage will only apply from the date of the most recent coverage or, in the case of no past coverage, it will apply from the effective date of the new policy.

Most professional liability policies include defense coverage in the limit of insurance. Defense coverage will reduce the limit of coverage available to pay any judgments.

Commercial general liability policies usually exclude any professional services being performed. Therefore, whether you are an attorney, accountant or design professional, you may not have coverage for negligent acts, errors, or omissions unless you have a professional liability policy in effect.