Professional Lines Insurance Coverage

What is Professional Lines Insurance Coverage?

Professional Liability Insurance Coverage is typically known as E&O, or Errors & Omissions.  This type of coverage is a type of liability insurance that helps protect professional advice and service providing individuals and companies. Professional Lines coverage is focused on the failure, or alleged failure in a service profession.  The most common professions that we think of in this category are doctors and lawyers.

The reason professional lines coverage is needed is that general liability insurance will only respond to, and cover bodily harm or injury, as well as personal harm or injury. Most commonly known claims are negligence, misrepresentation, fair dealing, or inaccurate advice.

Let’s take a look at 2 types of insureds that fit into the category of needing Professional Lines Coverage.  Professional and Management.

Professional Liability Coverage common clients can be:

  • Technology Professionals
  • Architects and Engineers
  • Environmental Professionals
  • Medical Professionals
  • Miscellaneous Professionals
  • Media/Entertainment Professionals
  • Insurance Agents
  • Attorneys
  • Accountants
  • Financial Institutions

Management Liability Coverage common clients can be:

  • Directors and Officers Liability
  • Employment Practices Liability
  • Cyber Liability
  • Financial Institutions
  • Community Associations
  • Fiduciary Liability
  • Crime
  • Kidnap and Ransom
  • Identity Fraud Expense Reimbursement
  • Private Equity Liability

The majority of agents that come to Southern Insurance Underwriters are well aware of our Professional Lines Coverage markets for Professional Liability, but never think about needing the additional coverage for Management.  I would venture to say that,  in my opinion, outside Kidnap & Ransom (thanks to movies for making that moniker more commonly known), most agents don’t even think about the Management side of things for the Specialty lines coverage that can be added onto policies.

Overall, the best practice is to talk to SIU’s Professional Lines underwriting specialists and really change the way you do business for the better.  All agents can better serve their clients by making sure all contingencies area covered, that’s what agents in this industry should do. It isn’t always about price. It’s about service.  Let Southern Insurance Underwriters serve you the way you serve your clients.

Click on the link below for more information on SIU’s Professional Lines Coverage program and for contact information.