Liability insurance that helps protect professional advice
Professional liability policies, also known as Errors and Omissions (or E&O) insurance, generally provide coverage for actual or alleged errors, omissions, negligence, breach of duty, misleading statements, and similar claims resulting from the performance—or non-performance—of professional services. Most policies cover both the defense costs (attorney fees, court costs, etc.) and settlements or judgements. Intentional wrongdoing is typically not covered.
If you have a “claims-made policy” or “prior acts coverage” with a retroactive date, coverage applies to claims arising from incidents which occurred prior to the effective date of your policy, as long as the claims are reported while your policy is in effect. If you have an “occurrence policy” or “extended reporting period”, coverage will apply to claims which are reported after the policy ends, as long as the incident occurred while the policy was in effect.
Nearly all professional liability policies vary in terms of their coverage options. Here are some questions you should consider when evaluating professional liability policies:
The Axial Company is a privately-held, independent financial services firm specializing in wealth management, corporate employee benefits, and insurance. Our integrated approach to serving the needs of our clients on a wide array of business and personal matters enables our clients to seamlessly interact with us across all divisions; Axial Financial Group LLC, Axial Benefits Group LLC, and Axial Insurance Group LLC.
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Burlington, MA
5 Burlington Woods
Burlington, MA
01803
888-408-6937
AFG 781-273-1400
ABG 781-273-1425
info@axialfg.com
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Hyannis, MA
540 Main Street
Hyannis, MA
02601
508-771-4992
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Marina Bay-Quincy, MA
304 Victory Road, Suite 300
Quincy, MA
01803
888-408-6937
617-934-0974
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