Professional Liability

Professional Liability Insurance also referred to as Errors & Omissions Insurance protects business owners from claims brought by clients or customers based on an error, the failure of work performed, or a product not performing as promised in a contract.  Losses of this type are not covered under a Commercial General Liability policy, and there is a perception that there is always a “deep pocket!” Very few companies are immune to the legal expense associated with a legitimate or even frivolous suit for the allegations of an error or omission.   Professional Liability is a critical protection for privately owned companies who provide professional services.   Examples of professionals commonly covered include:

  • Attorneys                      Designers
  • Doctors                         Consultants
  • Accountants                  Printers
  • Architects                     Engineers

How DSP Can Help

  • Risk Analysis – annually to evaluate:
    • Professional exposures
    • Operational changes
    • Events that could create potential claims
  • Market Evaluation of contracted carriers and specialty markets capable of handling the required exposures, coverages, territories and policy forms.
  • Risk Management Plan development to tailor coverages and forms to meet client needs.
  • Safety Initiatives provided by our in-house safety engineer to identify and mitigate exposures to employees or the public.
  • Contract Review insurance companies often will review contracts and make changes where appropriate.
  • Claims Management specialists assist with reporting and managing all claims.
  • Renewal Risk Analysis 90 to 120 days prior to renewal we meet with clients to begin a new risk analysis