ESSENTIAL COVERAGES FOR PROFESSIONAL SERVICES

Cash flow, payroll and customer service. These are the things that can keep a small business owner up at night. Being sued may not be one of them. But mistakes happen. And the truth is, a business can be sued by a client even if the business owner believes they did nothing wrong. Lawsuits can be expensive – even if your customer wins. That’s why Professional Liability (PL) or Errors and Omissions (E&O) coverage is a must for any business that gives advice or provides professional services for a fee. The Hartford offers PL or E&O coverage to 55+ professional services classes. Here’s a quick overview of the key program features and the classes we’ll write.

A HIGHER STANDARD OF FEATURES FOR CLAIMS-MADE COVERAGES

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•    Class-specific endorsements that reflect the professional services provided
      by a wide range of professional services companies

•    A broad range of coverage limit and deductible options

  »    Coverage limit: $10,000 - $5MM

  »    Deductible: $0 - $25,000

•    Coverage options that help maximize protection

  »    Extended Reporting Period (ERP)
        An eligible claim made and reported to us after policy termination will be covered as if it was reported during the          policy period. This provides your customers with extended protection, helping to avoid a coverage gap.

  »    Defense in Addition to Limits
        Provides your customers additional money to pay their defense costs.

  »    Disciplinary Proceedings Coverage – pays costs which your customer incurs as the result of having to appear                  before a regulatory or governmental disciplinary official.

  »    Supplementary Payments – reimburses your customers for lost income and other non-legal expenses which they            may incur in the defense of a claim.

  »    Subpoena Assistance – provides your customers with a lawyer should they be required to testify in a lawsuit to                which they are not a party.

•    Full Prior Acts4
      Most business owners purchase insurance to help protect them from the unknown. Many think of the unknown as          future events. However, full prior acts coverage protects against unknown errors or omissions that took place prior        to the policy’s effective date, regardless of how far in the past. This feature is automatically included for most                classes and can offer customers a greater sense of security.

UNMATCHED EASE

• One Convenient Bill 

• EASY Quoting On ICON

• Flexibility to add this valuable protection to our Spectrum® Business Owner’s Policy or purchase coverage as a separate standalone policy 

• Broad limits and deductible options