In today’s litigious society, lawsuits against businesses
are common. And as a business owner, you need to
be prepared to protect the integrity of your company if
an incident or mistake turns into a claim.
At Aduna Insurance , we understand that mistakes
happen. That is why we are committed to helping you
create a Professional Liability policy that keeps your
day-to-day operations protected should your
business be held legally liable.
What Does Professional Liability
While it is important for your business to have general liability coverage for property damage and bodily
injury, Aduna Insurance recommends adding Professional Liability Insurance to your business portfolio
because it insures the people and/or entities of your business from negligent claims made by third
parties, or even internal sources.
From failure to render a service to malpractice suits, Professional Liability can provide a wide variety of
options, such as:
Errors and Omissions Liability (E & O) – E & O covers any mistakes made by employees who work on
behalf of your business, if your business charges fees for your services. It can include coverage for any
errors such as failure to perform or violations of contract. Depending on your industry, your insurance
needs will vary.
Directors and Officers Liability (D & O) - Having financial protection for your business’ Directors and Officers can prevent loss in the event that they are held liable from actions related to their corporate positions. This can include anything from conflicts of interest to mismanagement of company assets and violation of laws.
Fiduciary Liability - Fiduciary covers claims that involve the violation of the Employee Retirement Income Security Act, or ERISA. If a manager, for example, violates the financial obligations of ERISA, having the right coverage can protect your company if held liable in situations from imprudent investments to failure to enroll employees.
Employment Practices Liability - With proper insurance, your business can be protected if a worker claims that his or her rights have been violated. This can include violations from sexual harassment and discrimination to violations of the Americans with Disabilities Act (ADA), mismanagement of employee benefit plans, and wrongful termination.
Contact a representative with Aduna Insurance today to prevent mistakes and errors from becoming major losses for your business.