Professional liability insurance protects businesses against charges of negligence or harm, based on a professional service or advice you provided. Your company can be hit with allegations of misrepresentation, breach of contract or wrongful business practices. And it can happen more easily than you might think. Professional liability, also known as errors and omissions (E&O) insurance, can protect your organization if it does.

Errors and Omissions (E&O) insurance protects you against the errors you make when providing a professional service to your clients and customers. Professional Liability Insurance, E&O insurance, covers defense costs, judgment, settlements and fines or penalties resulting from the allegations of misrepresentation, breach of professional services, wrongful business practices, misleading advice and conflict of interest.

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An estimate 34% of business owners underestimate their vendor risk and fall victim to professional liability or E&O lawsuits. You and your employees need insurance that works with other policies to protect your business from services-related risks.

Data breaches and cyber risk. Intellectual property and patent infringement. Global and local jurisdictional challenges. Directors and officer’s liability. Professional reputations. Employment practices and wage and hour liability. Mergers and acquisitions. And these are only a sampling of risks your organization faces.