Professional Liability Insurance


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What Is Professional Liability Insurance?

Professional liability insurance, also known as errors and omissions insurance, protects your business if a client claims that your services caused them to suffer financial loss. If you own a service-oriented business in Connecticut, it is recommended that you look in to purchasing professional liability coverage to protect your business from mistakes that may cause harm to a client.

More Info On E & O

Almost all professional liability insurance policies are sold on a "claims-made" basis. The insurance only covers work performed while the policy is in force, and for claims actually filed during the term of the policy. If you cancel your errors and omissions policy (or E & O insurance policy) without arranging for an extended reporting period, your coverage would end, and any claims submitted after the cancellation would not be covered, even though the work was performed while the policy was in effect.


Petruzelo Has The Experience You Need

Many business owners have been ruined by lawsuits. If you own a services business in the state of Connecticut, give serious consideration to purchasing professional liability insurance. Petruzelo Insurance has over 50 years experience helping Connecticut business owners assess risks unique to their business and helping them get errors and omissions coverage that is right for their needs.

Why Every Connecticut Business Needs Professional Liability Insurance

Owning a business carries risks. A mistake, an accident, or even a frivolous lawsuit can have serious financial consequences that can cripple a business. If you operate a company in Connecticut, you can be prepared to deal with these risks should they arise by investing in professional liability insurance, also known as errors and omissions insurance.

What Does Professional Liability Insurance Cover?

Professional liability insurance covers the legal costs a business faces if a customer claims a financial loss as a result of services provided by the business. It can cover allegations that the company did not provide services as promised, was negligent when providing services, or made a mistake or oversight that caused harm to the customer. Professional liability insurance can cover misrepresentation, inaccurate advice, violation of fair dealing, and lack of good faith.

Professional liability insurance will pay for the company’s legal defense costs, even if a court finds that the lawsuit is without merit. If a judgment is made against the company, a professional liability insurance policy will cover the cost of the settlement.

Reasons Why Your CT Business Should Have Professional Liability Insurance

Professional liability insurance can save your Connecticut business money. Even one lawsuit could potentially bankrupt your company. If you have professional liability insurance and you are the subject of a lawsuit, you will not have to pay the costs of your legal defense and a possible settlement out of pocket.

You could save money on your professional liability insurance premiums by keeping the number of claims filed against you low. One way to do that is to provide ongoing training for your employees so they can avoid errors that might make you the subject of a lawsuit.

A business that carries professional liability insurance is perceived as more professional than a company without it. Having this type of insurance sends a message that the company stands behind its work. It can be a deciding factor when a potential customer is trying to decide between multiple companies.

Get a Quote for Professional Liability Insurance

If you own a business in Connecticut that provides services for customers, you should protect yourself with professional liability insurance. Failing to have this vital coverage means that your company could be financially devastated by a lawsuit at any time. Even if the lawsuit is without merit, the costs of defending yourself could be staggering. Petruzelo Insurance can help you compare rates from several insurers. Contact us today to get a quote for professional liability insurance.




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Our independent insurance agency will help you answer all the questions you have about professional liability insurance. Leave it to Petruzelo Insurance Agency to get your business insured properly with the right coverage.