Also known as Errors and Omissions (E&O), professional liability insurance protects your business from consequential loss resulting from negligence claims associated with your professional service. Professional liability claims involve allegations whereby the customer alleges they loss revenue or incurred expense because of negligent rendering of professional services. Different from General Liability Insurance, Professional Liability addresses unique lawsuits that ‘experts’ can face.
Professional liability exposures exist for an increasing variety of business operations including but not limited to lawyers, accountants, doctors, real estate agents, technology firms, manufacturers, consultants and engineers.
How much does Professional Liability Insurance cost?
Factors that affect the cost of Professional Liability insurance include: specific profession, location, coverage limits, number of employees, and the number of years in business. The terms and conditions of a Professional Liability Policy are as important as the cost itself.
Mason-McBride is here to help
If you’re looking for Professional Liability insurance in Michigan, Call us today at (248) 822-7170 to discuss all of the coverage options to best protect your business. Or complete the form below to connect with one of our professionals and we will get back to you today!