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2101 South El Camino Real
Suite 206
Oceanside, CA 92054

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North County Financial Associates

(760) 231-5997 x801

 

Professional Liability

Why do you need professional liability insurance?

Professional liability insurance, also called errors and omissions insurance (E & O insurance), protects your business if you are sued for negligently performing your services, even if you haven't made a mistake.
 

You should seriously consider this coverage if your business:

• Provides a professional service.
• Regularly gives advice to clients.
• Is requested by a client to have professional liability insurance to complete a contract.
 

Additional coverage benefits:

 • Flexible payment options: We offer you the option of making monthly payments (with no fees) to help you manage your cash flow.
• Work done by temporary staff: Our professional liability insurance covers work done by your employees, temporary staff and independent contractors.
• Past work covered: Unlike some insurers, we cover unknown claims arising from work completed before you were even insured with us, back to an agreed date.
• Worldwide coverage: We protect you for work done by your business anywhere in the world, as long as the covered claim is filed in the United States, a U.S. territory or Canada.
• Claims responsiveness: When a covered claim is reported, we will immediately defend you even if the claim has no basis and, if necessary, appoint an attorney.

What is Professional Liability Insurance?

Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. 

Professional liability insurance may take on different forms and names depending on the profession. For example, in reference to medical professions it is called malpractice insurance, while errors and omissions (E&O) insurance is used by insurance agents,consultants, brokers and lawyers.[1] Other professions that commonly purchase professional liability insurance include accounting, engineering and financial services, construction and maintenance (general contractors, plumbers, etc., many of whom are also surety bonded), and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.