Professional and Management Liability

Lawyers, architects, engineers, realtors, or any other business professionals have one insurance need in common; the need for professional liability insurance. Regardless of the quality of the work, any business can be sued for negligence when its product or service including advice doesn’t meet a client’s expectations.

For protection, Professional liability Insurance (also known as Errors and Omissions Insurance) offers protection for a business against damages that may arise from claims of negligence and wrongdoing.  These types of insurance policies provide financial injury protection that is typically excluded from most general liability policies. 

Management Liability

Claims against the directors and officers can come from all sides—shareholders, vendors, clients, and often employees.  These lawsuits place enormous strain on daily business of running a business and put executives' personal assets as well as company assets at risk.  

To counter this risk, WT Phelan offers a wide variety of Management Liability insurance products.

• Directors and Officers Liability: 
  • Provides coverage for financial liability claims against a company's officers and directors.  These programs provided liability insurance to cover damages and or defense costs in the event of a lawsuit for alleged wrongful acts while acting in their capacity as directors and officers for the organization.

• Employment Practices Liability Insurance: 
  •  " (EPLI): EPLI, For claims arising out of employment practice disputes, this coverage protects individuals and companies from resulting damages and defense costs. Common claims allege discrimination, sexual harassment wrongful termination and wrongful discipline.

• Fiduciary Liability: 
  • Protects fiduciaries against loss (often including damages and defense cost) arising from the administration and management of employee benefit and pension plans. Common claims allege ERISA violations, negligent advice, and careless plan management.

• Crime insurance:
  • Provides protection for an organization from a wide range of threats from employees or non-employees, including forgery or alteration, employee dishonesty/theft, robbery and safe burglary, among many others.

 Please contact us or visit our Arlington branch location so we can learn more about your business and discuss your commercial Insurance needs.