Professional Liability Insurance


What is Professional Liability Insurance?

Welcome to our page for our Professional Liability Insurance, designed to protect professionals like you from the financial risks associated with providing professional services to clients.

As an professional, you are constantly managing sensitive financial information and providing valuable advice to your clients. Despite your best efforts, mistakes or misunderstandings can occur, and clients may hold you responsible for any resulting financial losses. That’s where our Professional Liability Insurance comes in – it provides the protection you need in the event of a claim against you.

What does Professional Liability Insurance cover?

Professional liability insurance, also known as errors and omissions (E&O) insurance, is designed to protect professionals from claims made by clients or customers alleging that the professional made mistakes or failed to perform their duties properly.

The coverage of professional liability insurance varies depending on the specific policy and industry, but it generally covers:

  1. Negligence claims: Professional liability insurance covers claims that arise from the professional’s negligence, including errors, mistakes, and omissions that result in financial loss or harm to the client.
  2. Legal expenses: Professional liability insurance covers the cost of defending a claim, including legal fees, court costs, and settlements or judgments that may be awarded against the professional.
  3. Breach of duty: Professional liability insurance covers claims that arise from a breach of professional duty, such as a failure to provide services as agreed or to meet professional standards.
  4. Reputation damage: Professional liability insurance can also cover damages to a professional’s reputation resulting from a claim, including advertising and public relations expenses to repair the professional’s image.

What doesn’t Professional Liability Insurance cover?

Professional liability insurance, like all insurance policies, has limitations and exclusions. While the specific terms and conditions may vary depending on the policy, here are some common exclusions:

  1. Intentional acts: Professional liability insurance generally does not cover claims arising from intentional acts, such as fraud or criminal activity.
  2. Property damage: Professional liability insurance typically does not cover claims for property damage, which may be covered by a separate general liability insurance policy.
  3. Employment-related claims: Claims arising from employment disputes, such as discrimination or harassment, are typically not covered by professional liability insurance. This type of coverage is usually provided by an employment practices liability policy.
  4. Bodily injury: Professional liability insurance typically does not cover claims for bodily injury, which may be covered by a separate commercial general liability policy.
  5. Contract disputes: Professional liability insurance may not cover claims arising from contract disputes, which may be covered by a separate contract liability policy.
  6. Cyber crime or data breaches: Generally, Professional liability policies do not cover cyber crime or data breaches, which may require separate cyber insurance policies.

It’s important to review the policy exclusions carefully to understand what is and isn’t covered. If there are gaps in coverage, additional insurance policies may be necessary to fully protect the business and its assets.

Our Carriers

ENO Insurance Agency is a family-owned and operated business that has been providing professional liability insurance to clients for over 20 years. We take pride in our ability to provide our clients with personalized service and customizable insurance solutions that meet their specific needs. Our knowledgeable and experienced staff is dedicated to providing our clients with the best service possible.

Adam Gwaltney, President, COO

Any individual or business that provides professional services to clients or customers should consider getting a professional liability insurance policy. This includes a wide range of professions, such as:

  1. Doctors, nurses, and other healthcare professionals
  2. Lawyersaccountants, and other professional service providers
  3. Architectsengineers, and other design professionals
  4. IT professionals, including software developers and consultants
  5. Real estate agents, brokers, title agents, and property managers
  6. Financial advisors, brokers, and investment managers
  7. Marketing and advertising professionals
  8. Consultants, including management, HR, and business consultants
  9. Educators and trainers
  10. Non-profit organizations and their directors and officers

Professional liability insurance can help protect against the costs of defending against claims and any resulting damages or settlements. Without this coverage, professionals and businesses may be liable for significant financial losses that could negatively impact their reputation and financial stability.

In some cases, professional liability insurance may be required by regulatory bodies or contracts. For example, lawyers and healthcare providers are often required to carry professional liability insurance as part of their licensing requirements. Additionally, clients may require proof of insurance before engaging in services.

What Policy Limits are right for my business?

We understand that every firm is different, and so are their needs. Therefore, we offer a variety of policy limits to choose from, so you can customize your coverage to fit your specific requirements. Our experienced underwriter partners can help you determine the right policy limit for your business.

How much does a Professional Liability Insurance policy cost?

The cost of professional liability insurance can vary widely depending on several factors, including the type of business or profession, the level of risk associated with the services provided, and the coverage limits and deductibles chosen. Some other factors that can affect the cost of professional liability insurance include:

  1. Claims history: A business or professional with a history of claims or lawsuits may face higher insurance rates.
  2. Industry standards: Certain professions or industries may have higher or lower insurance rates based on industry-wide risks and standards.
  3. Location: Insurance rates can vary by location due to differences in state laws and regulations.
  4. Coverage limits and deductibles: Higher coverage limits and lower deductibles may result in higher insurance premiums.

Generally, professional liability insurance premiums can range from a few hundred to several thousand dollars per year. Some businesses or professions may also qualify for discounts or lower rates if they have risk management practices in place or if they belong to certain professional associations.

To get a better idea of the cost of professional liability insurance for a specific business or profession, it’s best to consult with us so that we can provide a customized quote based on the individual needs and risk factors.

Where is the team licensed to sell Professional Liability Insurance?

The team is licensed in the following states:

  • Alabama
  • Arizona
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Maryland
  • Michigan
  • Minnesota
  • Montana
  • New Jersey
  • North Carolina
  • Ohio
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Wisconsin


Let’s work together

Get in touch today and receive a complimentary consultation.