PROFESSIONAL LIABILITY INSURANCE

Need Professional Liability Insurance in Missouri? We’ve Got You Covered!

At Stocker Insurance, we understand the importance of protecting your professional reputation. Professional Liability Insurance, also known as Errors & Omissions (E&O) coverage, is designed to safeguard professionals whose work is based on their expertise and advice.

Who Should Consider Professional Liability Insurance?

If your business relies on providing specialized knowledge or advice, you likely need this coverage. Professionals such as:

• Consultants and Advisors
• Real Estate Agents and Brokers
• Accountants and Financial Planners
• Architects and Engineers
• IT Specialists and Software Developers
• Legal Professionals

These are just some of the fields where mistakes or unmet expectations can lead to costly lawsuits. If your profession involves advising clients or making recommendations, Professional Liability Insurance is essential to protect your business from potential claims.

Why Do You Need Professional Liability Insurance?

Mistakes can happen, even to the best of us. When they do, Professional Liability Insurance provides coverage for:

1. Errors and Omissions

If you overlook a critical detail or make a recommendation that leads to financial loss for your client, E&O coverage can help cover the costs of legal defense and settlements.

Example: An accountant makes a filing error that results in a client’s financial penalty. The client sues for damages, and E&O insurance would help cover the legal costs and any awarded settlement.

2. Failure to Deliver Promised Services

If your service doesn’t meet the expectations outlined in your contract, clients may file a claim for losses incurred.

Example: A marketing consultant promises a significant increase in website traffic but fails to deliver the expected results. The client may seek compensation for the difference.

3. Negligence Claims

Even with the highest level of professionalism, there’s always a risk of a negligence claim if the client perceives you were careless or did not meet industry standards.

Example: An architect designs a building, but due to an oversight, it does not meet safety regulations, resulting in expensive modifications. The client sues for negligence, and E&O insurance can cover the legal fees.

What Professional Liability Insurance Doesn’t Cover

While Professional Liability Insurance is crucial for financial loss claims, it does not cover:

• Bodily Injury or Property Damage: These are typically covered under a General Liability Policy.
• Intentional Misconduct: Acts of fraud or intentional harm are not included.

Ready to Protect Your Business?

Don’t leave your business vulnerable to costly legal disputes. At Stocker Insurance, we offer customized Professional Liability Insurance solutions tailored to your unique needs. Contact us today to get a personalized quote and ensure your professional expertise is protected.

Call us now or visit our website to start your quote in minutes!