Professional Liability Insurance (E&O)

Q: How does professional liability differ from general liability?

General liability covers physical injuries and property damage, while professional liability covers financial losses from service errors.

Q: What is a claims-made policy?

A policy that covers claims submitted while the policy is active and for incidents occurring after the policy retroactive date.

Q: Do small consulting firms need E&O insurance?

Yes, even small errors in client advice can result in significant legal and settlement expenses.

Professional Liability Insurance—often referred to as Errors and Omissions (E&O)—protects service providers, consultants, and advisors against client claims alleging financial loss caused by mistakes, oversights, or failure to deliver services.

Key Coverage Elements

✓Negligence Claims: Legal representation and settlement defense for alleged errors or omissions in professional work.
✓Misrepresentation & Breach of Contract: Protection against claims of inaccurate advice or unfulfilled contract terms.
✓Workplace Oversight Defense: Coverage for missed deadlines, incorrect specifications, or flawed deliverables.
✓Court Expenses & Legal Fees: Pays legal fees regardless of whether a claim has merit, subject to policy terms.

Who May Need This Coverage

Consultants, accountants, real estate agents, tech firms, engineers, architects, healthcare practitioners, and advice-based businesses.

Important Policy Considerations

Policies are typically written on a claims-made basis, requiring coverage to remain continuously active.

Frequently Asked Questions

How does professional liability differ from general liability?

What is a claims-made policy?

Do small consulting firms need E&O insurance?

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Vantrex Insurance Group

905 Mingo Pl, Knightdale, NC 27545

info@vantrexinsurance.com