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Professional Liability

What is Professional Liability Insurance?

Professional liability insurance—also known as Employment Practices Liability (EPL)—protects businesses from financial burdens derived from employee malfeasance. Professional liability can cover situations ranging from lawsuits directed at a company’s executive staff, human resources misconduct, and fiscal wrongdoing. EPL can also extend to cover issues as diverse as charges deriving from discrimination, sexual harassment, unlawful termination, and issues stemming from violations of the ADA (Americans with Disabilities Act).1

Companies purchase professional liability insurance for various reasons: some companies may want to safeguard against lawsuits from cost overruns and project delays, while others may want to ensure their company doesn’t financially suffer from accusations that worker’s rights have been violated.2

Why Have Professional Liability Insurance?

While some businesses naturally require liability insurance due to their nature, in truth, nearly every business benefits from having professional liability insurance. In today’s litigious society, it is common for a business to incur a costly lawsuit for one reason or another. Sometimes these lawsuits are frivolous in nature, but they are expensive all the same, draining time and resources—damages that can be especially harmful to a small or medium-sized business.

To safeguard your business against the many pitfalls that exist for businesses in modern litigation, consider gaining professional liability insurance with All About Insurance. At All About Insurance, we specialize in keeping small businesses protected from financial dangers because we know that small businesses drive North Carolina’s economy.

What else does Professional Liability Insurance Cover?

Errors and Omissions Liability (E & O) 

  • E&O covers mistakes made by your employees while they are working a job for which the business has been engaged. This coverage typically encompasses employees’ failure to perform their contracted work.

Directors and Officers Liability (D & O)

  • If a corporation’s officers are held culpable for actions related to their position, your company can suffer financial consequences. These liabilities can include the mismanagement of corporate assets, violations of the law, and conflicts of interests.

Fiduciary Liability

  • Professional liability insurance also protects from violations of ERISA, the Employee Retirement Income Security Acts of 1974.3This act oversees standards for company financing, vesting, and the management of retirement plans, the violation of which can be financially harmful to a company.4

Employment Practices Liability

  • In the event that an employee claims his or her rights have been violated, your business is protected with this liability insurance. This protection contains violations or penalties from sexual harassment, mismanagement of employee benefits, and wrongful termination.

Our agents are experienced in providing commercial insurance that keeps businesses safe and free to operate smoothly.  These agents know professional liability insurance particularly well, and they can provide this insurance in custom-tailored form.  Contact us today to find how we can help you.

 

1"Employment Practices Liability Insurance." Encyclopedia of Small Business. Ed. Virgil L. Burton, III. 4th ed. Vol. 1. Detroit: Gale, 2011. 501-502. Gale Virtual Reference Library. Web. 3 Nov. 2015.

2GREENWALD, JUDY. "Contractors professional liability demand rises." Business Insurance 45, no. 44 (November 14, 2011): 6-21. Business Source Complete, EBSCOhost (accessed November 3, 2015)

3http://www.dol.gov/dol/topic/health-plans/erisa.html

4"Erisa." American Law Yearbook. 2006 ed. Detroit: Gale, 2006. 70-71. Gale Virtual Reference Library. Web. 3 Nov. 2015.

Our Locations

All About Insurance - Nationwide-Cary

590 East Chatham Street Ste. 100
Cary, NC 27511
Main office: 919-460-9996
Fax: 919-460-8897

All About Insurance - Acceptance Auto

3604 University Dr
Durham, NC 27707
Main office: 919-493-2911
Fax: 919-489-6399

All About Insurance - Auto Insurance Center

2626 S. Saunders St.
Raleigh, NC 27603
Main office: 919-832-2410
Fax: 919-828-6411

All About Insurance - Joel Davis Agency

410 S Main St
Graham, NC 27253
Main office: 336-222-9999
Fax: 336-228-1307

All About Insurance - Joel Davis Agency

2666 Ramada Rd
Burlington, NC 27215
Main office: 336-222-9998
Fax: 336-228-3153

All About Insurance - Main Location

101 Ephesus Church Rd
Chapel Hill, NC 27517
Main office:
Fax: 919-933-5150

All About Insurance - Mark Vitali Agency

1289 N. Fordham Blvd.
Chapel Hill, NC 27514
Main office: 919-933-4000
Fax: 919-933-5150

All About Insurance - Nationwide-Eden

210 E Kings Hwy
Eden, NC 27288
Main office: 336-627-1852
Fax: 336-623-5008

All About Insurance - Nationwide-Hillsborough

342 S Churton St.
Hillsborough, NV 27278
Main office: 919-732-2692
Fax: 919-732-6328

All About Insurance - Whitehurst Parker Agency

2605 Guess Rd
Durham, NC 27705
Main office: 919-479-8200
Fax: 919-471-3701

Our Providers

Testimonials

Accommodating, professional, helpful, and quick. Very comfortable experience and I was impressed by their capabilities. Highly recommended.

Brad M.
I feel lucky to have found an agent willing to provide this level of service. No need to look anywhere else!

Michelle D.
Over the years we’ve never once had to worry about our coverage. My husband and I are long-time customers and proud to be.

Carol S.
Surprisingly flexible and in-touch with my needs as a small business owner. Can’t ask for more.

Spencer F.
They have strong ties with the community, and it shows. It’s nice to do business with people that really show they care about you and your family.

Susan T.