Professional Liability Insurance

Professional liability insurance (often called errors and omissions, or E&O) is designed to protect individuals and businesses that provide professional services or advice. It helps cover claims made by clients who allege that your work caused them financial harm due to an error, omission, negligence, or poor advice.

This coverage is especially important for professionals such as:

• Accountants and financial professionals
• Lawyers and legal professionals
• Physicians and other medical providers (often through malpractice policies)
• Consultants, engineers, architects, and other advisors

While a general liability policy can help protect against bodily injury or property damage claims, it typically does not cover allegations related to professional mistakes, missed deadlines, misrepresentation, or failure to deliver services as promised. Professional liability insurance is designed to fill that gap.

A professional liability policy can help:

• Pay for legal defense costs, even if a claim is unfounded
• Cover settlements or judgments, up to the policy limits
• Protect your reputation and financial stability when a client accuses you of causing financial loss through your work

For many service-based businesses and licensed professionals, professional liability insurance is a critical part of a complete protection plan. At Live Oak Insurance & Financial, we can help you evaluate your exposure, understand your options, and choose coverage that aligns with the type of services you provide and the level of risk you face.