Professional and Errors & Omissions Liability

Covella Insurance Partners offers specialized professional liability insurance for professionals in Cincinnati, OH, Ohio, and Kentucky. Errors and omissions insurance (E&O) provides critical protection against claims of negligence, misrepresentation, and failure to deliver services.

Why You Need Professional Liability Insurance

Professional liability insurance gives your business a critical safety net. General liability insurance only covers claims that stem from bodily injury, property damage, advertising injury, or personal injury. Errors and omissions (E&O) insurance (as professional liability insurance is commonly known) provides added protection against claims of misrepresentation, negligence, good faith violations, and error or failure to offer a service or render an opinion.

What Does Professional Liability Insurance Cover?

Errors and omissions insurance can be customized to meet the specific needs of your business. Professional liability insurance policies cover court costs, attorney fees, judgments, and settlements. Extended litigation can drain your company’s reserves, even when a claim is unwarranted. E&O insurance can help protect your company from financial disaster when another entity files a civil lawsuit against you for acts of negligence.

Errors and omissions insurance can be tailored to meet the unique needs of your business. It covers:

• Court costs
• Attorney fees

Judgments and settlements

Professional liability insurance policies contain “shrinking limits,” which means that when defense costs are paid by the insurer, it reduces available policy limits. As defense costs can mount up with extended litigation, it may be necessary to purchase additional limits.

Who Needs Professional Liability Insurance?

Businesses that provide professional services need professional liability insurance, such as:

• Accountants
• Attorneys
• Real estate brokers
• Consultants

You should consider E&O coverage if your business:

• Provides professional services to clients
• Regularly gives advice to clients

Professional liability coverage is necessary to fulfill the requirements of contracts with clients

Cost of Professional Liability Insurance

There is no one-size-fits-all professional liability insurance policy. Premiums vary from company to company based on factors such as type of professional services provided, company revenue, number of employees providing professional services, and company loss history. An experienced agent at Covella Insurance Partners in Cincinnati, Ohio, can custom-tailor an errors and omissions policy to fit your needs.

Get Protected with Professional Liability Insurance Today

Waiting until it’s too late will leave you unprotected. Ensure your business is covered with Errors & Omissions Insurance. Contact Covella Insurance Partners for a customized quote tailored to your business’s needs.

Call us at (513) 489-6422, email info@covellains.com, or click here to get a quote today! Serving Cincinnati, OH, Ohio, Indiana, and Kentucky.