Our Professional Liability department underwrites numerous classes which can be found here and is headed up by Nate Gorham. Backed with an excellent support staff, our Commercial Team prides itself in delivering excellent customer service from start to finish.

Errors and Omissions insurance, also sometimes referred to as professional liability, is insurance to protect your insured in the event their client alleges they have suffered a financial loss as a result of an error or an omission committed by your insured in the delivery of their professional services. Professional liability coverage is separate from a General Liability (GL) policy which would cover mainly for bodily injury or property damage liability.

Many firms that engage in delivering professional services obtain E&O insurance. These policies are typically issued in increments of $1,000,000 in coverage with deductibles from $1,000 per claim to $25,000. A number of insurance companies offer specialized professional liability policies developed for specific professions. It is the agent’s advantage to work with Clearwater Underwriters to access numerous insurance carriers so you have confidence that your insured can obtain the broadest possible coverage for a competitive rate.

It is very important for you to be aware that virtually all professional liability insurance policies are issued on a claims-made basis. That means that coverage is only provided for work that is done during the policy period and for claims that are filed (made) during the policy period. In effect, if an E&O insurance policy is cancelled, and no provision is made for an extended reporting period, then all coverage stops and it is as if you never had a policy.

Finally, every insurance policy contains exclusions. It is important for you to analyze the professional risks that are most threatening to your business and seek insurance that covers those risks. Discuss your concerns with the underwriter.