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Professional Liability (E&O) Insurance

What is Professional Liability (E&O) Insurance?

Professional Liability Insurance—also called Errors & Omissions (E&O) Insurance—protects service-based professionals and businesses from claims of negligence, mistakes, misrepresentation, or failure to deliver services as promised. It safeguards your business from costly lawsuits and legal disputes that can arise if a client alleges financial loss due to your work.

This coverage is essential for consultants, agents, advisors, and other professionals who provide expert advice or services.

What Does Professional Liability Insurance Cover?

A typical Texas E&O policy includes:

  • Legal Defense Costs – Covers attorney fees and court expenses.
  • Settlements & Judgments – Pays for damages awarded in covered claims.
  • Negligence & Errors – Protects against mistakes or service failures.
  • Professional Advice & Services – Covers errors or omissions in services provided

Why Professional Liability Insurance Matters in Texas

Texas professionals face unique risks in industries like real estate, insurance, consulting, and financial services. Even a small mistake can lead to a lawsuit that threatens your reputation and finances. E&O insurance ensures you’re protected against claims that could otherwise derail your business.

Local Expertise You Can Trust

At MCN Multiservices, we serve professionals across Texas. Our agents understand state-specific liability requirements and industry risks. Whether you’re an independent consultant or run a growing firm, we’ll help you find the right coverage for your business.

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What Makes Our Professional Liability Insurance Different?

Texas-Specific Expertise

We know the liability laws and professional risks unique to Texas.

Custom Coverage Options

Policies designed for your industry and risk profile.

Affordable Premiums

Competitive rates for small businesses and independent professionals.

Bilingual Service

Hablamos español, serving Texas’s diverse communities with clarity and care.

Professional Liability Insurance Tips for Texas Businesses

  • Review Contracts Carefully – Clear agreements reduce liability exposure.
  • Bundle Policies – Combine E&O with general liability or cyber insurance for discounts.
  • Update Coverage Annually – Adjust policies as your services or client base changes.
  • Train Your Team – Proper training helps prevent costly mistakes.

Ready to Protect Your Professional Reputation?

Contact MCN Multiservices today for a free professional liability insurance quote in Texas. Our licensed agents will help you compare policies, understand coverage options, and get insured fast—so you can focus on serving your clients with confidence.

Frequently Asked Questions

Who needs professional liability insurance?

Professional liability insurance, also known as errors and omissions (E&O) insurance, is essential for any professional providing advice, services, or expertise. This includes consultants, accountants, real estate agents, insurance agents, lawyers, engineers, IT professionals, and healthcare providers. It’s particularly relevant for who needs professional liability insurance, E&O insurance for consultants, and business insurance for professionals.

Professional liability insurance does not cover bodily injury or property damage (covered under general liability), employee injuries (covered by workers’ compensation), intentional wrongdoing, criminal acts, or cyber liability (which requires separate coverage). Understanding these professional liability exclusions and what E&O insurance doesn’t cover helps identify potential business insurance gaps.

While not legally required for all professions, certain industries and contracts mandate E&O coverage. For example, real estate agents, insurance brokers, and healthcare providers often need it to comply with licensing or client requirements. These are examples of professional liability insurance Texas requirements, E&O insurance laws, and mandatory business insurance.

Costs vary depending on profession, risk level, business size, revenue, claims history, coverage limits, and deductibles. Small businesses and professionals in Texas typically pay $500 to $2,000 annually. This reflects professional liability insurance costs in Texas, affordable E&O insurance, and competitive business insurance rates.

General liability insurance covers physical injuries and property damage, while professional liability insurance protects against financial losses due to professional mistakes, errors, or omissions. Both policies are essential for comprehensive business protection, making the comparison between general vs professional liability insurance and E&O vs general liability vital for decision-making.

Yes! Many insurers offer custom business insurance packages that include professional liability, general liability, commercial property, and cyber liability. Bundling can save money and simplify policy management, creating opportunities for professional liability insurance bundles, business insurance packages, and multi-policy discounts.

To file a claim, notify your insurer as soon as a complaint arises, gather documentation (emails, contracts, reports), submit a formal claim with supporting evidence, and cooperate with the insurer’s legal team during the investigation. Following this professional liability claim process ensures you understand how to file an E&O insurance claim and manage business insurance claims efficiently.

Yes, if your policy includes retroactive coverage or prior acts coverage. This protects you from claims related to work performed before the policy’s start date, provided no known claims existed at the time of purchase. This feature is critical for retroactive E&O coverage, prior acts, professional liability, and insurance for past work.

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We’re here to help with any questions or needs. Connect with our team for personalized assistance and expert guidance on the coverage that fits you best.