Professional Liability Insurance
Professional Liability Insurance Quote Forms
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Professional Liability Insurance Information
Professional liability insurance may provide essential coverage for claims brought against you or businesses regarding your professional services or advice.
The experienced agents at Thomas Bradley Insurance in Madison, Wisconsin, and Spencer, Iowa, can help you select the policy that best suits your business needs. Contact us today to get started.
What Is Professional Liability Insurance?
Professional liability insurance may also be known as errors and omissions (E&O) insurance or malpractice insurance. It typically provides coverage if a client files a lawsuit against your business alleging an unintentional mistake resulted in harm.
Businesses that provide professional services or advise clients should consider securing professional liability insurance. Depending on your state and profession, it may be required by law or industry standards. It can also supplement your other commercial insurance policies (e.g., general liability insurance) as a crucial piece of your comprehensive insurance portfolio.
What Is Covered Under Professional Liability Insurance?
Professional liability insurance may provide coverage for lawsuits alleging:
- Professional negligence
- Deficient work
- Inaccurate advice
It may help pay for the expenses associated with these claims (e.g., defense costs, settlements and judgments) even if the suit is eventually dropped. Having coverage may reduce your business’s out-of-pocket burden and provide peace of mind for you and your clients. Contact your insurance agent for more information regarding coverages, limits and exclusions.
How Does Professional Liability Insurance Work?
Professional liability insurance functions similarly to other insurance products. In exchange for paying a premium, an insurer agrees to provide financial assistance if a covered event occurs. The price of the premium depends on several factors, such as your business’s industry, location, size and selected limits.
Get Professional Liability Coverage
The team at Thomas Bradley Insurance can help you secure the optimal professional liability insurance coverage. Contact us today for more information or a quote.