Miscellaneous professional
Miscellaneous Professional Liability (MPL) insurance provides financial protection to professionals in various fields (outside law or accounting) against claims of errors, omissions, or negligence in their professional services, covering a wide range of industries such as consultants, engineers, designers, and more.
Accountants Professional Liability insurance offers financial protection to accounting professionals against claims of errors, omissions, or negligence in their professional services.
Lawyers Professional Liability (LPL) insurance provides financial protection to attorneys against claims alleging negligence or errors in their legal services.
The real world is imperfect. Humans make errors.
Even the best rehearsed processes can lead to mistakes when underlying parameters change. Professional Liability insurance, also known as Errors and Omissions (E&O) insurance, safeguards businesses and professionals from financial losses resulting from claims of negligence, errors, or omissions in the services they provide.
Claims typically include
Failure to deliver
promised services
Coverage for claims arising from not meeting contractual obligations or failing to deliver services as agreed upon, leading to financial harm or loss for clients.
Copyright or Intellectual
property infringement
Protection against claims alleging unauthorized use of intellectual property, copyright infringement, or unauthorized disclosure of proprietary information.
Professional negligence
Coverage for claims alleging professional errors, mistakes, or failure to perform services as promised or expected. This includes allegations of providing inaccurate advice, incomplete work, or negligent actions leading to financial harm for clients.
Legal defense costs
Coverage for legal expenses incurred while defending against claims, including court fees, attorney fees, and settlements or judgments resulting from covered claims.
Misrepresentation
Protection against claims of providing false information, misleading advice, or misrepresenting facts that result in financial losses for clients or stakeholders.
Breach of duty
Insurance that addresses allegations of breaching professional duties owed to clients or third parties, including failure to exercise reasonable care, skill, or diligence in performing services.
Ask us about stand alone IP Coverage
Many companies, especially technology-driven ones, have built their success on differentiated intellectual property (IP). IP insurance coverage can protect businesses against violations of their intellectual property right and cover, for example, resulting legal defense fees.