Application for Insurance Agents and Brokers Professional Liability 2025

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Professional liability insurance, also called errors and omissions insurance (EO), covers the cost of lawsuits related to the quality of your work, including legal fees and settlements.
There are two types of professional liability polices: claims-made and occurrence. Most professional liability insurance policies are claims-made, meaning that the policy must be in effect both when the event took place and when a lawsuit is filed for a claim to be paid.
Insurance Agents and Brokers Professional Liability helps protect agents and brokers 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, also known as Errors and Omissions (EO) coverage, is designed to protect your business against claims that professional advice or services you provided caused a customer financial harm due to actual or alleged mistakes or a failure to perform a service.
Specific professional liability insurance carries different names depending on the profession. For example, professional liability insurance in the medical profession may be called medical malpractice insurance, while real estate brokers fall under errors and omissions insurance coverage.
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Errors and omissions insurance costs for insurance professionals. The median cost of EO insurance is about $45 per month, or $550 annually, for insurance professionals. This policy, also known as professional liability insurance, can protect your business from work mistakes that negatively impact clients.
Synonyms for professional liability insurance Errors omissions insurance: This term is used as an alternative to professional liability insurance.

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