Professional Liability (E&O)

Professionals, such as doctors, lawyers and accountants, have long been held highly accountable for the consequences of their decisions. While such professions are still the “Big Three,” there are a growing number of other occupations that represent an exposure to liability loss that needs special protection, including pharmacists, architects, engineers, land surveyors, contractors, opticians, beauticians, insurance agents, technology consultants, and many others.

Professional Advice

  • Those in need of this type of insurance are sought out by the general public as experts who can assist with special issues such as personal health, expensive business transactions, or personal crises.

Professional Reputation

  • Any claim a client makes against a professional involves that individual’s or firm’s reputation. In so many instances, paying such a claim is an admission that a mistake was made.
  • The professional may suffer from a lowered status and could face sanctions from related professional associations or regulatory authorities.

Higher Defense Cost

  • Defending against claims of professional error or ommission is usually very expensive and time-consuming. Trials will usually involve expert testimony and technical arguments.
  • Since a claim or lawsuit is often viewed by the professional as an attack on his or her abilities, the chances of resolving issues without litigation can be extremely low.

Identifying A Loss

  • The timing between when a loss occurs and when a claim or suit is filed can be a mystery. A professional may find out they’re being sued today for something that happened ten years ago.

Applications & Forms
Christen Ward
Commercial Account

716-633-8401 x121

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