Professional Liability Insurance
We are dedicated to providing outstanding service and support.
Laura Piro
LBP President/Founder, Certified Insurance Agent
If your business provides a service, advice, or expertise, there’s always a level of risk involved.
Even when you do everything right, clients can still claim something went wrong.
We see this all the time. Businesses assume general liability covers these situations, but it usually doesn’t.
What Professional Liability Insurance Covers
Professional liability insurance, also known as errors and omissions, protects your business against claims related to the services you provide.
That can include:
Claims of negligence
Mistakes or errors in your work
Missed deadlines or incomplete services
Failure to deliver expected results
It’s not about physical damage. It’s about the work itself.
What We See All the Time
Businesses relying only on general liability
Contracts requiring coverage that isn’t in place
Claims tied to misunderstandings or expectations
Growing businesses not updating their coverage
Most people don’t realize they need this until a client raises an issue.
Real World Situations
A client claims your work caused them financial loss
A missed detail leads to a project delay
A misunderstanding turns into a formal complaint
A contract requires professional liability coverage
These situations are more common than most business owners expect.
Coverage That Actually Matters
Errors & Omissions Coverage
Protects against claims tied to your services or advice.
Legal Defense Costs
Helps cover attorney fees and legal expenses.
Settlement Coverage
Covers costs if a claim is settled.
Claims Made Coverage
Applies to claims made while the policy is active, which is an important detail to understand.
Common Mistakes
Assuming general liability covers service related claims
Not carrying coverage when contracts require it
Letting coverage lapse and creating gaps
Choosing the lowest limits without considering risk
These are the issues that tend to create exposure.
Who Should Consider This Coverage
Professional liability is important for businesses that provide:
Consulting or advisory services
Design, planning, or technical work
Any service where clients rely on your expertise
If your work involves decisions, recommendations, or deliverables, this coverage matters.
A Simple Way to Think About It
General liability covers physical risks.
Professional liability covers the work you deliver.
If you’re not sure whether your current coverage protects you the way it should, LBP Insurance can walk through your policy with you and help you identify any gaps before they become problems.
