Texas Commercial Insurance for Professional Service Businesses

Businesses which offer professional services – such as legal, accounting, medical, psychological, architectural, engineering, finance, consulting – may need specific coverage against lawsuits. For professional service businesses in Texas, commercial insurance can be geared towards the requirements of the individual commercial operation.

Business insurance packages provide coverage for property damage, some liability, and business interruption however it’s likely that one of the most vulnerable areas for professional service businesses is that of professional liability. As a professional or service related operation, you run the risk of lawsuits due to errors and omissions – real or imagined – in the running of your operations.  

Professional liability insurance – sometimes called errors and omissions or malpractice liability – provides coverage for legal action taken against your business, by clients who allege they have suffered harm as a result of advice or services provided by you or others in your operation. This insurance also pays for damages up to the limit of the policy. Another type of liability insurance is known as EPLI or employment practices liability insurance, for lawsuits filed by employees as a result of alleged harassment, discrimination, wrongful discipline or dismissal or a number of other damages.  

Commercial operations in Texas which offer professional services should regularly review their Texas commercial insurance policies to ensure that their coverage is adequate. Particular care should be taken with regards to professional liability insurance to protect against lawsuits.  
 

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