By Lockton Professional

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You may need Professional Liability coverage for the services you provide. From disgruntled clients to fiduciary liability or even typos, the right coverage makes all the difference.
What is the difference between Professional Liability and E&O?
Professional Liability Insurance and Errors and Omissions Liability Insurance are the same things. It may also be referred to as Malpractice Insurance.
What do Professional Liability Insurance Policies Cover?
Coverage depends on the type of policy you purchase and your profession. However, most policies include coverage for the cost of certain legal fees and judgments/settlements that you may face as a result of claims and litigation brought against you based on the advice or services you have provided.
What is not covered?
Criminal or intentional acts
Liability assumed under contract, with the exception of a written fiduciary contract
inside Trading
Alternative Investments, with exceptions for some asset classesForeign Securities
Products not authorized by your broker/dealer
Performance Guarantee
Who is covered under Professional Liability policies?
Coverage extends to anyone providing covered Professional Services on behalf of your business. This includes your clerical staff and other employees, independent contractors working for you when the policy starts, and your Chief Compliance Officer.
Does Professional Liability Coverage include Cyber Liability Coverage?
Not typically. You can purchase comprehensive cyber liability coverage separately to cover the exposures of registered advisors.
Are the services I’ve provided to clients before starting a policy covered?
Often, you can receive coverage for your prior acts by matching your current coverage. However, if you are insured solely through your Broker Dealer, your prior acts coverage could be limited. If you are aware of circumstances that could result in a claim, these should be reported to your current insurer prior to binding coverage.
Industries we specialize in at The Huttenlocher Group:
Manufacturing Insurance
Automotive Manufacturing Insurance
Tool & Die Insurance
Staffing Agency Insurance
Food and Agriculture Insurance
Freshwater Technology and Services Insurance
Non-Profit Insurance
Cannabis Facility Insurance
Investment Properties – Commercial landlord Insurance
Habitational/Hospitality Insurance
Cardiovascular Surgeon Insurance
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