What is professional liability insurance?
Professional liability insurance, also called errors and omissions insurance (E & O insurance), protects your business if you are sued for negligence, even if you haven't made a mistake.
Defending your business can be financially crippling. However, you can feel secure with Hiscox insurance. If a covered claim is brought against you, we'll immediately defend you and appoint an attorney if necessary. If damages are awarded, we'll pay them up to your covered limit.
Do you need professional liability insurance?
You may feel confident in the quality of your work, but any business can be sued for negligence when its work doesn't meet a client's expectations. If you’re a consultant or a small professional business, buying liability insurance is the right thing to do.
You should seriously consider professional liability insurance if your business:
- Provides a professional service.
- Regularly gives advice to clients.
- Is requested by a client to have professional liability insurance to complete a contract.
Why choose Hiscox professional liability insurance?
Hiscox is reinventing the way insurance can work for your small business. We specialize in professional liability insurance coverage for professional services businesses with fewer than 10 employees. Here are a few ways Hiscox insurance stands out among other insurers:
- Buy direct: Hiscox understands the time constraints that come along with being a small business owner. That's why we're the first U.S. insurer to offer professional liability insurance coverage (errors and omissions insurance) that can be bought directly and online - in real time.
- Customized coverage: We know that not every business is the same. So we customize policies for specific professions. This way your business will get the right coverage it needs for the specific risks it faces. For example, if you’re an IT/technology consultant, Hiscox will automatically add $200,000 of coverage for software copyright infringement. When it comes to the right coverage, we’ve got you covered.
- Work completed by all staff is covered: Unlike some policies, our professional liability insurance covers work done by your employees, temporary staff and subcontractors.
- Past work covered: Unlike some insurers, we cover unknown claims arising from work completed before you were even insured with us, back to an agreed date.
Learn more by visiting our professional liability insurance FAQ page.
- Competitive rates: Our competitive professional liability rates start from as low as $270 per year.
- Claims responsiveness: Our job is simple - to be there for you when you need us. When a covered claim is reported we will immediately defend you and, if necessary, appoint an attorney, even if the claim has no basis.
- Worldwide coverage: We understand that business often crosses borders. So we cover work done by your business anywhere in the world, as long as the claim is filed in the United States, a U.S. territory or Canada.
- Flexible payment options: We offer you the option of making monthly payments (with no fees) to help you manage your cash flow.
- Flexible coverage: Our flexible coverage limits and deductible options allow you to choose the right coverage and price for your business. You can also update your policies and limits over time as your business needs change.
Money back guarantee
Be confident that you've made the right choice. You have 14 days to review your policy, and if you have not had a claim or loss, you may request a full refund if you are not satisfied with your purchase.
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.