Call Us 719-593-5814 ☰ ˟
Logo
Call Us 719-593-5814 to get your personalized insurance quote
  • Home
  • Products
    • Home & Auto Insurance
    • Auto InsuranceImage of right arrow
      • Liability Coverage
      • Comprehensive Coverage
      • Specialty Auto Insurance
      • Uninsured & Underinsured Motorist Coverage
      • Collision Coverage
    • Home InsuranceImage of right arrow
      • Property Insurance
      • Homeowners Liability
      • Mobile Home Insurance
      • Renters Insurance
      • Scheduled Property Insurance
      • In-Home Business Insurance
      • Landlords Insurance
    • Other Personal InsuranceImage of right arrow
      • Identity Theft
      • Personal Umbrella Insurance
    • Recreational Vehicle InsuranceImage of right arrow
      • Boat Insurance
      • Motorcycle Insurance
      • Motorhome Insurance
      • ATV Insurance
      • Snowmobile Insurance
    • Coverage for Your BusinessImage of right arrow
      • Bonds
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Cyber Liability Insurance
      • Inland Marine Insurance
      • Loss Control Insurance
      • Professional Liability
      • Workers Compensation
  • Get a Quote
    • Auto Insurance Quote
    • Bond Request Form
    • Business & CommercialImage of right arrow
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
    • Homeowners Insurance Quote
    • Umbrella Insurance Request
    • Workers Compensation Insurance Quote
  • Resources
    • Refer a Friend
    • Insurance Glossary
    • Important Links
  • Our Agency
    • About
    • Our Staff
    • Our Locations
    • Privacy Policy
  • Contact Us
Home > Commercial-Products > Coverage-For-Your-Business > Professional Liability Coverage - Colorado Springs CO & Denver CO - Legacy Insurance

Professional Liability Insurance in Colorado Springs, CO


Your organization strives to provide reliable and consistent services to clients and customers. Unfortunately, perfection is not sustainable regardless of how experienced or diligent your company may be. Even the most meticulous businesses may eventually commit an error that could adversely affect a client or other party. In such situations, you may be liable for the resulting losses. As such, the financial protection provided by a professional liability insurance policy may be invaluable. 


What Is Professional Liability Insurance? 


Also known as errors and omissions (E&O) insurance, professional liability insurance represents a contractual agreement between your organization and its insurance provider. By purchasing and maintaining a policy, your insurer agrees to provide financial assistance in response to covered incidents that might otherwise lead to significant out-of-pocket losses for your company. 


Although coverage details may vary, professional liability insurance typically includes coverage for legal expenses and financial losses arising from the following allegations: 


  • Negligence
  • Oversights
  • Inaccurate guidance
  • Inadequate services
  • Misrepresentation
  • Omissions
  • Missed deadlines



Who Needs Professional Liability Insurance? 


Professional liability insurance should be considered an integral loss control measure for any organization that provides professional services, guidance or advice. This may include, but is not limited to, the following: 


  • Consultants
  • Contractors
  • Accountants
  • Advertising agencies
  • Architects
  • Engineers
  • IT professionals
  • Real estate and property managers
  • Health care professionals


Does Umbrella Insurance Cover Professional Liability Insurance? 


Commercial umbrella insurance is a secondary type of coverage capable of providing additional financial assistance in response to many common incidents if the liability limits of other policies, such as general liability and commercial auto, have been exhausted. However, in most cases, commercial umbrella insurance is not capable of backing up professional liability policies. 


Instead, your organization should consider purchasing excess liability insurance. Excess liability coverage, also referred to as excess E&O insurance, functions similarly to commercial umbrella insurance by providing an extra layer of financial protection beyond a specific policy’s liability limits, such as your professional liability coverage. As such, even particularly excessive losses may not lead to significant out-of-pocket costs.  


Is Professional Liability Insurance the Same as Malpractice Insurance? 



Malpractice insurance, also known as medical malpractice insurance, is a type of professional liability insurance specialized for the health care industry. These policies can provide critical coverage for medical professionals and organizations, as even a slight error or miscalculation in a health care setting could have catastrophic consequences for a patient’s health, and the resulting lawsuits could incur irreparable financial ramifications. 


Get the Right Coverage 


At Legacy Insurance, our agents have extensive experience serving the coverage needs of businesses, families and individuals. We will draw on our collective knowledge to analyze your organization’s circumstances, identify risks and exposures, and compose policies that provide robust financial security. Contact us today to get a quote or learn more. 

 

 

 

Contact us
Colorado Springs Office | 719-593-5814 13540 Northgate Estates Drive, Suite 210 Colorado Springs, CO 80921
Glen Burnie Office |  719-593-5814 307 Rain Water Way | Glen Burnie, MD 21060
Quick Links
Home Get a Quote Customer Service Payment / Claims About Us Blog Contact Us
Locations
Colorado Springs Office
13540 Northgate Estates Drive, Suite 210
Colorado Springs, CO 80921

P: 719-593-5814
F: 719-388-2075
Glen Burnie Office
307 Rain Water Way
Glen Burnie, MD 21060
P: 719-593-5814
F: 719-388-2075



Google Icon


© Copyright. All rights reserved.
Powered by Insurance Website Builder