Professional Liability Insurance

Professional liability insurance and errors & omissions (E&O) insurance, protects you and your business from claims of professional negligence, bad advice, or errors in providing service. Many businesses should consider purchasing professional liability insurance. The agents at Safeguard Insurance work with several providers of errors & omissions insurance. We can find you the right professional liability insurance, at the right price.

About Professional Liability Insurance

If your business offers professional advice, service, or consultation then professional liability is something you should consider. Unlike general liability, which covers only bodily injury and property damage, professional liability covers claims of negligence in the rendering of a professional service. These can be claims of financial loss or injury to a person caused by your professional service.

Who Needs Professional Liability Insurance?

At Safeguard Insurance, we provide professional liability insurance for dozens of business types including:

• Attorneys and law firms,
• CPA’s, bookkeepers and tax preparers,
• Architects & Engineers,
• Business consultants or advisors,
• Mortgage brokers and lenders,
• Home inspectors,
• Financial planners, consultants, or managers,
• Real estate firms including individual agents and brokers,
• Allied medical including labs, home health, medical spas and imaging centers,
• Beauty salons, day spas, barber shops and other personal service providers,
• Technology companies such as website designers, software programmers and IT technicians,
• Contractors and construction firms, especially those involved in design/build work.

Prior Acts Coverage

Professional liability and errors & omissions insurance is typically issued on a claims-made policy form. This type of policy can provide coverage for errors that were made in the past but for which a claim has not yet been made.  For example, a CPA may have incorrectly prepared a tax return several years ago but the error may not be discovered until much later when the customer is assessed fines and penalties.  This ability to cover past mistakes is called “prior acts coverage” and is a unique feature of professional liability insurance.

Professional Liability Insurance Features

Other attributes of professional liability insurance include:

• A self-insured retention, similar to a deductible, that the policyholder must pay before coverage applies.
• A retroactive coverage date that specifies how far back in time the policy will cover wrongful acts or errors.
• The option to purchase a “tail” or extended reporting period should your operations cease.
• A broad duty to defend the insured, even for claims that are baseless or false.
• Options to pay for defense costs inside or outside the limit of coverage.

Get a Quote for Professional Liability Insurance

If you would like a quote for professional liability insurance, contact Ryan Dye at 702-508-9253 or complete the short request form on this page.

Ryan Dye is the commercial lines manager at Safeguard Insurance.  He has over 20 years of insurance experience and specializes in business insurance including professional liability or errors & omissions insurance. Ryan has worked with dozens of law firms, accountants, engineers and other professionals to provide comprehensive insurance solutions.

Safeguard Insurance is located in Las Vegas, NV. licensed to provide professional liability coverage in Nevada, Arizona, Utah, California, Texas, New Mexico, Oregon, Washington, and Idaho.