Professional Liability or Errors and Omissions Professional liability – also known as errors and omissions – responds to claims arising from acts of professional negligence. Depending on your insurance company, this type of insurance coverage may also be called malpractice insurance. It's important to note that malpractice coverage specifically refers to professional negligence that leads to bodily harm. Examples of professional negligence situations include:Financial Loss. Your corporation provides financial advice. Advice from one of your employees who is trained as a professional financial advisor leads an individual to lose their life savings. The person seeks compensation from your organization.Bodily Injury. As part of your non-profit organization's teen suicide hotline service, an employee who is a trained psychologist speaks to a teen caller. Subsequently, the teen commits suicide and the victim's family sues your organization and alleges professional negligence.Who Is A Professional?There is no single definition of who is considered a professional. Ask your insurance representative how your insurer defines who is a professional to determine if any of your corporate employees or volunteers are in this category. Corporate employees or volunteers who act as professionals in their duties for your organization should consider securing professional liability coverage to ensure that their personal interests are covered. Non-Profit Funder Requirements for Professional Liability CoverageDepending on the programs and services a non-profit offers, may require that certain types of professional liability insurance be in place. Carefully review all activities of the organization and talk to your insurance representative to determine what coverage you need to protect your organization. Emergency Preparedness for Business Life can throw its share of curveballs so it’s important to be ready for anything. And yet, a large number of small businesses don’t have an emergency preparedness plan in place. This guide is intended to help you safeguard your business by preparing for the unexpected.Commercial Insurance for Small Business – Q&AQuestion to ask your insurance representative.Business Insurance and YouManaging risk is an essential part of every business, large or small. Theft, fire, vandalism, riots: A host of perils could come your way and you need to be ready for them. Let’s look at some of the basic steps you can take. Related ServicesProfessional Liability Risk ManagementProfessional liability – also known as errors and omissions – responds to claims arising from acts of professional negligence. Useful LinksInsurance VendorsInsurance is a significant financial investment so it’s worthwhile to learn about your buying options. Cost ControlThere are many ways you can control insurance costs and lower your premium. Shop around and ask your insurance representative for more information about the options below and other savings opportunities.