The Hartford is targeting small businesses with a new professional liability endorsement.
Plans call for adding the coverage to the Connecticut-based insurer’s business owner’s policy. The Hartford said it can now protect more than 30 industries now with the professional liability endorsement in place.
Specifically, the endorsement is designed to help protect small businesses if they are sued for alleged negligence, or error/omission in the professional services they provide. Features include a broad range of deductible and coverage limit options, extended reporting period and full prior acts coverage, which protects a small business owner against unknown errors or omissions that took place before the policy began.
The Hartford noted that the coverage can be customized to meet unique needs of small businesses including accountants, graphic designers and consultants. By offering professional liability as an endorsement, agents and small business owners can also work with one policy and one bill, according to the insurers.
Source: The Hartford