When accidents occur, lawsuits between businesses are more common than you might think.
Professional liability claims are often difficult to fight, as the person in which you are
making the claim against may make it personal. Just as they are taking it seriously, you must do
the same with competent representation. At R.H. Nicholson & Company, our professional insurance
agents will provide you with the highest quality of customer service to ensure we meet your
every business or commercial liability insurance needs. Our agents will take the time to discuss
your concerns and develop a professional liability policy that meets your business’
requirements.
What Are The Different Types of Professional Liability Coverage?
Professional liability ranges from property damage and bodily injury including the following:
Errors & Omissions Liability (E & O)
In the case where an error was made on the employees behalf of your business, your business may
charge fees for your services. These mistakes may consist of failure to perform violations of
contract, in which E & O coverage is available.
Directors and Officers Liability (D & O)
In the event when your business’ directors and officers are held liable for any actions related
to their corporate positions such as conflicts of interest, mismanagement of company assets, and
violation of law, D & O coverage provides the protection your corporate directors and officers
need when they are held liable for business claims such as these.
Fiduciary Liability
Fiduciary liability solely handles coverage for claims in relation to any violations toward the
Employee Retirement Income Security Act (ERISA). In the act when a manager violates their ERISA
financial obligations, they can get coverage with fiduciary liability, as it will protect your
company when investments fail to properly enroll their employees.
Employment Practices Liability
There are times when your employees will claim that you or one of your directors and officers
have violated their employees’ rights, which may include sexual harrassment, discrimination of
Americans with Disabilities Act (ADA), employee benefit plan neglience, as well as wrongful
termination. Employment practice liability covers these areas as necessary.
Professional Liability Insurance for Northern Virginia Businesses
At R.H. Nicholson & Company, we offer multi-policy discounts and commercial coverage to satisfy
your business’ needs. Our experienced insurance agents are dedicated to help you save money and
will re-examine your current policy to see whether you need to make adjustments or change your
plan altogether.
Have more questions about your insurance policy? Get in touch with us at (703) 261-6100 to speak
with a professional liability insurance staff member.
