The definition of professional services is central.
Professional liability underwriting depends on the services provided, contracts, clients, revenue, prior claims, retroactive date, and the responsibilities accepted by the business.
Policies can differ in covered services, exclusions, defense provisions, consent-to-settle language, prior-acts treatment, and whether defense expenses reduce the available limit.
Coverage considerations
- Definition of covered professional services
- Claims-made reporting and retroactive date
- Prior acts and continuity
- Defense inside or outside the limit
- Contractual liability and performance guarantees
- Cyber, technology, media, and privacy overlap
Consultants
Advice, analysis, deliverables, deadlines, and client reliance.
Technology Firms
Software, implementation, managed services, cyber, and media exposures.
Real Estate Professionals
Transactions, disclosures, property management, and advisory allegations.
Specialized Services
Coverage defined around the actual professional discipline and contract.
Related coverage
Professional liability may need to coordinate with cyber, general liability, management liability, crime, property, and umbrella coverage.