~~Professional Liability insurance or professional indemnity insurance policies help protect businesses or organizations from possible negligence claims or lawsuits for services they have provided. Claims are usually for negligence, good faith, errors, omissions, misrepresentations, or incorrect advice.
Typical professions that obtain this type of coverage are general contractors, construction trades, doctors, financial professionals such as insurance agents and CPA’s, consultants, software developers, architects, engineers, brokers, and lawyers. Charitable and non-profit organizations also often purchase the professional liability (called D&O).
Common names for this type of insurance are: professional liability, E&O (Errors and Omissions), D&O (Directors and Officers Coverage) for a for-profit company or a non-profit company, and lastly, a word for this type of coverage is malpractice insurance.
TWFG represents a number of companies that offer professional liability for your business or organization. It is important that the policy you select matches your business needs. Give us a call and enable us to guide you through the decision process of what type and amount of insurance to buy.