Professional Liability Insurance Tailored to Your Needs

Professional Liability Insurance

These days, even small mishaps can potentially lead to large lawsuits. That’s why no business can operate without General Liability insurance (and potentially Professional Liability insurance) to protect its assets.

Your business can be sued for almost any reason: negligence, personal injury, libel, slander, errors, omissions, faulty products, advertising misprints, etc. General liability insurance protects your business from another person or business’s claims of bodily injury, medical costs, personal injury claims, data loss, and damage to property.

Professional Liability insurance covers businesses that offer advice, guidance and other professional services against claims of negligence and errors or omissions that injure their clients (or cause damage to a third party). This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies.

At CoSaint, we will help you find the right coverage for your general and professional liability insurance needs. We have access to leading carriers in the commercial insurance industry and will help you find the right coverage at the most affordable price.

Get General & Professional Liability Insurance Quotes from the Leading Providers Now!

General Liability & Professional Liability Insurance Coverage Options

There are several different types of liability policies for businesses. Let’s discuss a few of the more common liability insurance policy coverages.

General liability insurance (GL) is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations. General liability insurance is often combined with property insurance in a Business Owners Policy (BOP), but general liability insurance also is available to many businesses as standalone coverage.

The two primary coverages in a General Liability policy intended to protect against claims of bodily injury and property damage arising from your products, services and operations. To illustrate these coverages, here are two common scenarios for GL claims:

  • A visitor to your office trips over an exposed wire and breaks a leg. This is an example of a bodily injury claim on your premises/operations).
  • Your product short circuits and causes fire damage to a building. This is an example of a products liability claim.

Professional liability insurance is also called professional indemnity insurance (PII) but it is often more commonly known as errors & omissions (E&O) insurance. Professional Liability insurance is a form of liability insurance that helps protect professionals who provide advice and guidance from potential negligence claims made by a client (and potential damages from such a civil lawsuit). This coverage focuses on the alleged failure to perform and / or the errors or omissions in the service or product sold by the business. Professional liability insurance is often required by law for certain kinds of professional services businesses (especially in the medical, insurance, accounting, financial services, real estate and legal industries). It is also sometimes required under contract by other businesses that are the beneficiaries of the advice or service of these industries.

Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, we recommends considering this type of coverage.

D&O insurance covers Directors and Officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company.  There are a variety of Directors and Officers coverages available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.

General Liability & Professional Liability Insurance in NC & SC

CoSaint offers General and Professional Liability insurance in South Carolina, North Carolina, Ohio and Kentucky. When it comes to General and Professional Liability insurance, CoSaint will work with you to assure you have the appropriate amount coverage at the right price. As an Independent Insurance Agency, we will get quotes from leading insurance companies to help you select the most effective and affordable coverage possible. We will then walk you through your options and help you identify additional savings. You can run your business without worries knowing CoSaint is with you every step of the way.