Commercial Insurance

Professional Liability Insurance protects your business against loss from a claim of alleged negligent acts, errors or omissions in the performance of your professional services. The policy normally pays for any resulting judgments against you, including court costs, up to the coverage limits on your policy.

The purpose of this insurance is to protect the corporation, directors, officers and employees from alleged employment-related wrongful acts. Some features to having this policy     are: coverage for front/back pay, attorneys' fees and compensatory damages, for punitive damages where insurable by law, for actual or alleged retaliatory treatment, varying retentions for class action suits or other claims, for emotional distress or mental anguish, no purposeful or intentional acts exclusion or reductions in force or mass layoffs exclusion.*

*Coverage varies from company to company.

Most organizations have a general liability policy that protects its directors and officers against negligent acts that result in bodily injury or property damage. However, general liability does not protect against alleged wrongful acts or omissions, including breach of duty, which do not result in bodily injury. Directors and Officers liability coverage protects directors and officers against potential lawsuits resulting from key decisions or management practices-lawsuits that may target their personal assets this includes claims alleging negligence, errors and omissions, misstatements, misleading statements and misrepresentations.

Environmental coverage generally falls into two categories. Errors and omissions coverage, also known as professional liability, protects a professional who mistakenly designs a facility that causes pollution in some way. Pollution incident coverage protects professionals on the job in case they cause a pollution incident by perhaps backing into a sewage pipe.