Professional liability insurance — also called errors and omissions (E&O) — covers claims that a business failed to perform professional services correctly, omitted something important, or gave negligent advice that caused a client financial harm. It is the essential coverage for any business that provides professional services, advice, or expertise to clients. Commercial general liability does not cover these claims.
Professional liability policies are almost always written on a claims-made basis — the policy in force when the claim is filed responds, not the policy in force when the alleged error occurred. This is different from occurrence-based CGL policies.
Claims-made policies require a retroactive date (often called a "retro date") — claims arising from work done before this date are not covered. When a client switches carriers, agents must ensure the new policy's retro date matches or precedes the prior policy's retro date, or purchase tail coverage. See E&O insurance explained for a full breakdown.
Professional liability submissions vary significantly by industry. Each specialty — tech E&O, accounting malpractice, architectural E&O — has different underwriting questions and supplemental applications. AgencyAssist collects the right information for each professional's specific risk through a tailored intake link, generating a complete submission package automatically.
Collect all the right information from each professional client through one intake link.