Professional Liability

professional liability

Professional liability coverage, or as it is sometimes referred to, errors and omissions, was originally designed for a limited number of professions such as lawyers, doctors, accountants, architects and engineers. Today, professional liability is a must in nearly every business.

Professional liability insurance coverage typically responds to third party claims. These claims involve allegations of wrongful, professional actions or failure to act. Professional services are referred to in the coverage agreement of most policies and, typically, the declarations page describes the nature of the services performed by the insured. The description of services often is not broad enough to encompass all the services being performed and can present coverage limitations. To offset all risks, professional liability coverage is increasingly being required of many businesses as a function of standard contracts.

At TriMountain, we understand this coverage, and we know which insurance companies offer the best solutions. We will also partner with you not simply get you covered but help you to understand coverage nuances such as:

  • Specific time bound claims reporting responsibilities
  • Coverage for independent or sub contracted work
  • Defense reimbursement and limit methodologies
  • Settlement incentives
  • Crisis expense reimbursement
  • Treatment of innocent insureds
  • Disciplinary proceeding reimbursement
  • Subpoena expense reimbursement
  • Waiver of deductible