Professional Liability Insurance
Why choose Zurich for professional liability insurance?
Zurich’s Pro Plus Professional Liability Insurance, also called Errors & Omissions (E&O) Insurance, gives practitioners in technology, manufacturing and a variety of professional service industries the flexible, effective solutions they require. It also includes Security and Privacy (S&P) and a host of other cyber-related coverages that are crucial in today’s digitally focused business environment.
Our expansive offerings and deep knowledge can also help you explore different approaches to Professional Liability coverage through Captives and other alternative structures, such as Integrated Risk Programs and Structured Risk Programs for a diverse portfolio of often complex risks.
Flexible solutions
Claims and underwriting advantage
Global reach
Professional Liability Solutions
Among the benefits available to Pro Plus customers:
- Admitted insurance coverage for E&O available in most states
- Duty to defend
- Defense costs for privacy-related regulatory proceeding
- Consumer-redress funds coverage following a privacy breach
- Cyber security insurance considerations
- Ability to insure professional liability and security and privacy (S&P) exposures under a single limit
- Covered exposures include business income loss, system failure and social engineering
- Risk management solutions from experienced cyber risk specialists dedicated to helping protect your business from ever-evolving cyber threats
Pro Plus enhanced endorsements can help provide an even greater array of protections to qualified customers:
- Alternative dispute-resolution incentives
- Bodily injury/property damage (BI/PD) carve-back
- Crisis management coverage
- eDiscovery services
- Pro rata cancellation
Retention-reduction options
Companies within industries that provide professional advice, or products to clients such as:
- Technology
- Computer hardware
- Software products and services
- Technology service providers
- Miscellaneous professionals
- Third-party service providers
- Manufacturing
- Component manufacturers
- Contract manufacturers
Helping You Proactively Protect Tomorrow’s Opportunities
As business environments continue to evolve, your professional services are your greatest asset. Moving forward with confidence is key to seizing new opportunities. Professional Liability insurance is more than a defensive measure; it's a forward-looking tool that helps you operate from a position of strength. By addressing the potential for professional liability claims, you can focus on innovation, build stronger client relationships and pursue ambitious goals. This coverage is designed to help address potential financial and reputational impacts of professional liability claims, allowing you to focus on delivering professional services to your clients. With a solid foundation, your business is better equipped to navigate operational challenges. It is a practical component of a broader strategy to help protect the value, stability, and continuity of your business.
Tailored Coverage for Complex Industries
Every industry faces its own unique set of professional risks. A one-size-fits-all approach to insurance simply doesn't work for the nuanced challenges of today's specialized fields. We work with you to understand the specific liability exposures your business encounters, whether you are in technology, manufacturing or another professional service sector. For a technology firm, this could mean addressing risks related to software performance and data privacy. For a manufacturing company, it might involve the financial implications of a component part failing to meet client specifications. Our modular policy options allow us to construct a coverage plan that aligns with your specific operations. By collaborating with your broker and Zurich underwriting teams, we can develop a tailored insurance solution that addresses your industry's specific challenges, helping you move forward with greater assurance.
Supporting Large and Global Operations
For large corporations with a national or global footprint, professional liability risks can be complex and far-reaching. Managing these challenges requires an insurance provider with the scale and experience to match. With a presence in over 200 countries and territories, Zurich is well-positioned to support your operations wherever you do business. Our global network provides a consistent approach to managing your professional liability needs, while also offering the flexibility to address local regulations and market conditions. We can work with your broker to structure a program that supports a coordinated insurance program across your organization. This helps to simplify the insurance process, reduce potential coverage gaps and provide a more unified view of your professional liability risks. Let us help you build a more resilient future for your global enterprise.
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FAQs
Professional Liability Insurance helps specialized professionals protect their businesses and reputation. High-profile industries often attract risks associated with the services they provide, making them vulnerable to lawsuits. The list is expansive and includes service providers, manufacturers and technology companies. Dissatisfied clients, whether justified or not, can sue you if they believe your mistake led to financial losses. Allegations of failure to provide professional services might include:
- Missing a project deadline
- Breach of contract
- Professional negligence
You’ve worked too hard to see your business threatened by a lawsuit. Mounting a defense, even for an unwarranted lawsuit that you win, can wage a heavy financial and reputational toll. Professional Liability Insurance can help cover expenses associated with:
- Defense costs
- Court fees
- Settlements or judgements
- Crisis management
