Professional Liability Insurance


 

Directors and Officers Liability

This form of liability insurance protects against claims arising from the negligent acts, errors, or omissions alleged to have been committed by present or former directors or officers of your corporation. This particular type of professional liability insurance is usually written as a separate policy consisting of two parts: coverage for the personal liability of directors and officers, and coverage for the company or institution for the acts of its directors and officers.

Definitions of ‘covered insured’ can be written to cover appointed individuals, elected individuals, and/or subsidiary directors and officers. Specialized forms (such as those used for nonprofit groups) may also cover certain non-officer employees for specific situations, such as volunteers, committee members, or trustees.

 

Errors & Omissions Liability

This coverage insures you against claims arising out of your negligent acts, errors, or omissions in rendering or failing to render specified professional services as defined in the policy. Allegations of improper advice, failure to perform, misrepresentation, violation of good faith, or inaccurate designs, plans, appraisals, tests, and evaluations are all examples of losses that are not necessarily covered by standard Commercial General Liability wording, which necessitates the need for this coverage.

 

Employment Practices Liability

This insurance protects against lawsuits by employees alleging wrongful termination, discrimination, sexual harassment, or other specified employment-related exposures. Most EPL policies are written as scheduled forms that specifically list what types of claims are and are not covered. However, policies will vary in how they define or fail to define important policy terms.

 

Cyber Liability

Cyber Liability addresses the first- and third-party risks associated with e-business, the Internet, networks, and informational assets. This coverage offers protection for exposures arising from Internet communications, the infringement of intellectual property, virus transmission, or any other data breach that may be passed from first to third parties via the Web.

Commercial companies that disseminate information to the public via websites face the same legal exposures as publishers, yet most have little or no concept of their resulting legal responsibilities. Moreover, new legislation continues to create potential liabilities, particularly in the areas of user privacy and domain name infringement.

Our qualified agents are available to discuss the benefits and security offered by professional liability coverage, and can assist you in determining the most suitable option for your commercial needs.