E&O / Professional liability insurance
Online businesses face numerous risks that could lead to severe financial losses. These three online business liability insurance policies can help protect your company.
Even if you’ve done nothing wrong, someone can still sue your IT business. Learn how to prepare for this possibility.
Technology businesses accused of negligence may need to file an errors and omissions insurance (E&O) claim. Learn how this process works, what coverage usually includes, and what your policy might exclude.
Typically, you need to contact your insurance carrier directly when you want to file a commercial insurance claim. But the steps you take may differ based on whether you're filing a property claim or a liability claim.
Learn how to protect your consulting business by understanding the liability risks and taking steps to safeguard your assets.
Arizona law doesn't require businesses to carry E&O insurance, but you might still need it to sign a contract or get licensed in your field. It provides crucial protection against lawsuits related to your work performance.
When you have vicarious liability for something, it means you could be held legally responsible for any resulting harm even though you didn't directly cause it. For example, a tech company could be held accountable for the actions of an employee.
A tortfeasor is a business or individual accused of a tort, which is an act that harms another entity. Torts are often unintentional, but the tortfeasor can still be held liable for damages.
A tort is defined as a wrongful act or omission that harms a business or an individual. They often lead to lawsuits.
Before purchasing errors and omissions insurance (E&O), consider factors such as premium pricing, insurance company ratings, and policy limits.
A claims-made policy is a type of insurance that only covers claims while it's active. If a client lets their claims-made policy lapse before reporting an incident, the insurer won't recognize the claim.
A claimant is a person or business entity that files a claim to receive payment for a specific loss under the terms of an insurance policy.
An ACORD certificate of liability insurance is a document that provides a summary of your business insurance policy and proves you have liability insurance coverage.
The aggregate limit is the maximum amount your insurance company will pay for all covered claims filed during your policy period.
Tail coverage is a provision that provides coverage for incidents that occurred while you had your policy, but a claim wasn't filed until after your policy's expiration date.
