Professional & Management Liability
In today’s litigious society, lawsuits against businesses are common. And as a business owner, you need to be prepared to protect the integrity of your company if an incident or mistake turns into a claim.
At Allen & Stults Co., Inc., we understand that mistakes happen. That is why we are committed to helping you create a Professional Liability policy that keeps your day-to-day operations protected should your business be held legally liable.
What Does Professional Liability Cover?
While it is important for your business to have general liability coverage for property damage and bodily injury, Allen & Stults Co., Inc. recommends adding Professional Liability Insurance to your business portfolio because it insures the people and/or entities of your business from negligent claims made by third parties, or even internal sources.
Professional Liability can provide a wide variety of options, such as:
Errors and Omissions Liability (E & O) – E & O typically covers mistakes made by you and your employees while performing professional services for others for a fee.
Directors and Officers Liability (D & O) - Having financial protection for your business’ Directors and Officers can prevent loss in the event that they are held liable from actions related to their corporate positions.
Fiduciary Liability - Fiduciary covers claims that involve your role and obligation as a fiduciary for implementing, managing and overseeing various employee benefit plans. This can include violations of the Employee Retirement Income Security Act, or ERISA.
Employment Practices Liability - With proper insurance, your business can be protected if a worker claims that his or her rights have been violated. This can include violations from sexual harassment and discrimination, to violations of the Americans with Disabilities Act (ADA), and wrongful termination.
Contact a representative with Allen & Stults Co., Inc. today to prevent mistakes and errors from becoming major losses for your business.