HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford has launched a new professional liability insurance offering to help protect small businesses in the event they are sued by a customer claiming a negligent act, or error or omission in the professional services they provide.
This new endorsement to The Hartford’s Business Owner’s Policy expands the number of industries The Hartford can protect with a professional liability endorsement to more than 30. The industry-focused coverage can be customized to meet the unique needs of small businesses such as accountants, graphic designers and consultants.1 By offering professional liability insurance as an endorsement, agents and small business owners will have the convenience of working with one policy and one bill.
“An alleged mistake can result in a lawsuit that can be very costly for a small business and damaging to their reputation,” said Lynn LaGram, assistant vice president of Small Commercial product at The Hartford. “We are pleased to offer this industry-leading coverage to small business owners, especially accountants who in the past would typically need to purchase a separate policy to obtain the coverage they need.”
Key features for the endorsement include:
- A broad range of deductible and coverage limit options;2
- Extended reporting period, which covers a small business owner if a claim is made after an insurance policy ends;
- Full prior acts coverage, which protects a small business owner against unknown errors or omissions that took place before the policy began;3 and
- Convenience of one policy and one bill.
“We heard from small business owners that professional liability insurance is important and we wanted to make it easy for them to obtain the coverage they need,” LaGram said. “Adding the new professional liability endorsement is a convenient, cost-effective way for small business owners to protect themselves from the unexpected and it is another example of The Hartford’s commitment to helping small businesses succeed.”
For more information about The Hartford’s professional liability endorsement, visit http://www.thehartford.com/professional-liability-insurance
About The Hartford
With more than 200 years of expertise, The Hartford (NYSE: HIG) is a leader in property and casualty insurance, group benefits and mutual funds. The company is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at www.thehartford.com. Join us on Facebook at www.facebook.com/TheHartford. Follow us on Twitter at www.twitter.com/TheHartford.
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1 The endorsement is available to 18 new classes including
accounting & auditing services firms, court reporters, notary publics,
advertising agencies, embroidery operations, public speakers, answering
service companies, graphic artists & designers, stenographic &
secretarial service companies, consultants – business or management,
interior decorators, tax preparers & bookkeepers, consultants – wedding,
interpreters or translators, telemarketing firms, copying & duplicating
service businesses, market research firms, and travel agencies.
2 Available options vary by type of business and state
3 Prior acts coverage for accountants, tax preparers and business consultants must be requested and approved. Various options for prior acts coverage for these classes are available.