A typical General Liability (GL) policy or Business Owners Policy (BOP) provides coverage for bodily injury, property damage, personal injury or advertising injury claims. You will typically find that these policies contain exclusions for claims resulting out of advice given. If you want protection against this type of exposure you will need to purchase a separate professional liability policy.
•Professional liability insurance in the medical field is also known as medical malpractice – with coverage designed for medical doctors, dentists, chiropractors, practitioners and nurses.
•Errors and Omissions (E & O) coverage is designed for insurance agents, notary publics, real estate agents, appraisers and technology fields.
•Directors and Officers (D & O) coverage is for the directors and officers of a business. It provides the company with protection for any wrongful acts that one of its corporate directors may be responsible for while performing their corporate duties.
A simple question that you can ask yourself to determine if this coverage is needed for your business is “are you giving advice, or making suggestions for an individual or business?” If you answered “yes,” then talk with us regarding your business exposures to ensure you have the right coverage for your business needs.