Business & Commercial Insurance

Clients and customers depend on your business to be reliable and consistent in fulfilling its obligations. However, despite your best intentions, there may be times when accidents, errors or other unexpected difficulties keep you from putting your best foot forward. In these situations, resulting financial losses may extend beyond your organization, meaning that you could face legal action. That’s where commercial professional liability insurance steps in.

What Is Commercial Professional Liability Insurance?

Commonly known as professional liability insurance and also often referred to as errors and omissions insurance, this type of coverage can provide much-needed financial assistance in response to incidents in which your business fails to deliver on its promises. An adequate policy can establish a binding agreement with your insurance company that may ensure you have access to the resources needed to manage these difficult situations. As its name suggests, commercial professional liability insurance differs from personal liability insurance in that it’s appropriate for businesses and commercial enterprises rather than individuals seeking to protect their personal assets and interests.

What Is Included in Commercial Professional Liability Coverage?

The financial protections offered by professional liability insurance can be diverse and versatile, potentially responding to many common incidents and accusations that might occur regardless of your business’s sector or other unique circumstances. Payouts can typically help provide for financial losses and legal expenses resulting from allegations of the following:

• Professional errors
• Inaccurate advice
• Negligence
• Misrepresentations
• Missed deadlines
• Breaches of contract
• Omissions
• Oversights

Who Sells Commercial Professional Liability Insurance?

A qualified insurance agency, such as American Insurance & Investment Corporation, can help your organization understand its professional liability insurance needs and secure appropriate coverage. Contact one of our Las Vegas or Salt Lake City offices today to learn more or to begin comparing personalized quotes.