Professional Liability Insurance

Professional Liability Insurance with E & O

E&O (Errors and Omissions) Insurance is an integral part of a Professional Liability Insurance Policy. Anyone can make a mistake (Error) or miss a detail of explanation (Omission). With professionals in a wide range of professions, those errors and omissions become a liability, a risk of litigation. From Insurance Agents to Architects, Attorneys and Real Estate Agents, Accounting firms, Gyms and Health Clubs, Educators and Computer Programmers, almost every type of professional carries some potential risk. Capstone takes pride in our ability to understand the individual needs of a wide variety of industry professionals, tailoring our approach to each individual client.

Why General Liability Isn’t Enough for Professionals

General liability insurance policies typically only cover bodily injury and property damage claims, leaving those whose businesses operate in an advisory or consulting capacity lacking very necessary coverage against errors and omission. Because general liability policies rarely include provisions for professional indemnity, professionals may find themselves held solely responsible for financial restitution awarded for inadvertent misrepresentation or violations of good faith. A Professional Liability Insurance Policy that is tailored to include all of the supplemental coverage required to bear the financial burden of defending against litigation and potential judgments.

Small Practice – Big Risk

Clients within some industries have a fundamental understanding of risk management procedures because it’s a part of their profession, while others focus on areas entirely unrelated to the field. An attorney, human resources manager or a financial advisor are already intimately acquainted with risk minimizing habits. Those who work in other capacities may not fully realize what the litigation risks are for their specific profession and how to minimize those risks. Damages awarded to a client for financial losses caused by faulty advice or service could potentially be substantial enough to cause financial devastation. Capstone’s Risk Management focus always focuses first on educating our clients on ways to minimize the risk and prevent loss, and secondly on providing protection in the event of a claim.