Professional liability insurance for service-based businesses

If your business gives advice, performs a service, or delivers expertise, a client could claim your work caused them financial harm. Professional liability, also called errors and omissions (E&O), covers that risk. Miami's concentration of real estate, healthcare, and financial services firms means professional liability exposure is part of doing business for a large share of local companies.

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Coverage details depend on the carrier, selected policy, applicable state laws, underwriting criteria, and specific exclusions. This content is for informational purposes only and does not constitute legal or financial advice. Contact us to review your options.

What it may cover

  • Claims of negligence, errors, or omissions in professional services
  • Legal defense costs even if the claim is without merit
  • Settlements or judgments tied to a covered claim
  • Claims related to missed deadlines or contractual disputes
  • Claims arising from a failure to deliver promised results or a breach of professional duty
  • Work performed by subcontractors acting on your behalf, when disclosed

Who it's for

  • Consultants, accountants, and financial advisors
  • Real estate agents and brokers
  • Healthcare providers and other licensed professionals
  • Technology and service-based businesses
  • Architects and engineers
  • Marketing, design, and IT consultants

Why it matters

General liability doesn't cover claims that your professional advice or service caused a client financial loss. Many client contracts now require proof of E&O coverage before work begins. South Florida's fast-moving real estate and professional services market means contracts, deadlines, and client expectations shift quickly, which raises the odds of a dispute over delivered work.

Common coverage options

Claims-made policy

Covers claims filed while the policy is active, the most common E&O structure.

Occurrence policy

Covers claims based on when the incident happened, regardless of when the claim is filed; less common but available for some professions.

Extended reporting period

Adds tail coverage for claims filed after a policy ends but related to prior work.

What affects the price

  1. 01Profession and scope of services
  2. 02Annual revenue
  3. 03Claims history
  4. 04Coverage limit selected
  5. 05Contract terms and client requirements

Questions to ask before buying

Is this a claims-made or occurrence policy?
Do I need tail coverage if I close or change my business?
What's specifically excluded for my profession?
Does this cover claims tied to work performed before this policy started?

Ready to explore your options?

Our licensed agents in Miami can help you compare coverage and find the right policy. No pressure, just clear answers.

(786) 340-3710

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Frequently asked questions

Coverage details depend on the carrier, selected policy, applicable state laws, underwriting criteria, and specific exclusions. This content is for informational purposes only and does not constitute legal or financial advice.

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