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  • Professional Liability: What You Need To Know
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    When (and How) Should I Purchase E&O Coverage?

    The time to determine risks and the types of insurance you need is before a problem arises. E&O insurance is no exception. You can even make it a selling point with your clients because it can help them feel greater peace of mind knowing they could be compensated if anything goes wrong.

    E&O insurance is a highly customizable product so it’s not likely you’ll find a “one-size-fits-all” solution. It’s important to work with an insurance professional who understands your industry and its unique risk exposures.

    Most E&O policies are written on a “claims made” or “claims made and reported” basis with some form of retroactive time frame. This means that any claims that arise from errors or omissions that happened before the retroactive date will not be covered. The farther back the retroactive date, the broader and more complete your coverage.

    You’ll find E&O insurance costs vary quite a bit. Costs depend on your type of business, your location, whether you’ve had past claims, and the breadth of coverage, including the retroactive period. You may be asked to provide copies of contracts, documentation procedures, information about any previous E&O coverage, quality control processes and employee training initiatives as part of the insurance company’s risk evaluation of your application.

    Need Business Insurance?

    For more than 200 years businesses have trusted The Hartford. We can help you get the right coverage with an online quote.
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    Game Plan

    • Learn about customized professional liability policies for specific professions here.
    • Develop quality control processes to catch or limit potential errors before anything gets delivered to your client.