Professional Services Insurance

Core coverages in this program

• •Professional Liability (Errors & Omissions)
• •Business Owner's Policy (property + general liability)
• •Cyber Liability & Data Breach Response
• •Employment Practices Liability
• •Workers' Compensation
• •Hired & Non-Owned Auto

Which professions this covers

The professional services E&O market spans a wide range of expertise-based businesses, each with its own underwriting questions and typical limits.

• •Marketing, advertising, and PR agencies (add media liability)
• •Accounting, bookkeeping, and tax preparation firms
• •Engineering, architecture, and design firms (project-specific limits)
• •HR, staffing, and recruiting firms (add EPLI for placed workers)
• •Management, IT, and strategy consultants
• •Financial advisors and insurance producers (E&O required by law in many states)

Match your limit to your contracts, not to a guess

Most professional-services firms buy $1M/$1M by default and then sign master services agreements with a $2M or $5M liability cap. The gap between the cap you accepted and the limit you bought is uninsured balance-sheet risk. Before renewal, pull your three largest contracts and read the insurance exhibit — then buy to the highest requirement rather than to the average.

What professional services insurance costs

Revenue is the primary rating base, with the regulated-outcome factor next: firms whose advice affects money, safety, or compliance pay more than creative and administrative services.

Cyber and employment practices — the two claims that surprise firms

Professional firms hold client financial data and payroll information, which makes wire-transfer fraud and business email compromise the most common cyber loss — often excluded from E&O and only covered by a cyber policy with social engineering and funds-transfer fraud endorsements. Separately, once you pass roughly ten employees, employment practices liability becomes the most likely non-professional claim you will face.