Professional Liability Insurance (E&O)

Professional liability insurance, also known as errors and omissions insurance (E&O), protects an insured against lawsuits claiming negligence arising from the services they provide.  For firms that provide advice or professional services, E&O is critical because unlike general liability insurance, professional liability coverage protects an insured’s work including designs and advice, as well as many other services.  While a common misconception, professional liability insurance is NOT covered by commercial general liability insurance, which covers an insured primarily against bodily injury, property damage, personal injury or advertising injury depending on the policy form.

Types of Errors & Omissions (E&O) Insurance

California errors and omissions insurance is available in well over 100 classes with occupations ranging from physicians to engineers.  Of these classifications, Schaedler Insurance specializes in E&O insurance for:

Professional Liability Insurance Consultants

Professional Liability Insurance Architects

Professional Liability Insurance Engineers

Professional Liability Insurance Real Estate Professionals (Mortgage Brokers, Appraisers, Title, Realtors)

Additional classifications are available upon request. If you are not sure whether your business needs professional liability insurance, please contact us and an insurance advisor would be happy to review your particular insurance needs.

Why Do I Need Professional Liability Insurance?

While you may feel very confident in the quality of work your firm produces, you still may be sued by your clients if that work does not meet expectations whether real or perceived.  Defending lawsuits can be financially crippling for most businesses regardless of whether or not any error was actually made.  If your business is regularly involved in giving advice or providing professional services for a fee, it’s very likely you need professional liability insurance.

Professional Liability Insurance Coverage’s

Professional liability insurance is generally offered in increments of 1,000,000 with deductible options ranging from $1,000 to as high as $25,000.  While occasionally written by admitted insurance carriers, professional liability insurance is most often written on a non-admitted basis because of the high risk inherent with these exposures.  Many factors are involved when considering professional liability insurance including each policy’s provision in regards to tail coverage, exclusions, how defense costs are treated as well as the overall policy form.  Before replacing or purchasing an E&O policy, it’s very important to consult with an experienced professional liability insurance advisor to prevent any gaps or exposures in coverage.

Professional Liability Insurance Quotes

Getting a quote for California professional liability insurance is simple.  Just complete the contact form at the top of this page and an insurance advisor with Schaedler Insurance will contact you shortly to gather the necessary information to complete your quote and answer any questions you may have.