Tailored coverage to handle any suit

With all the tasks and information you have to manage during the course of a project, it’s no surprise that some details occasionally escape notice. Most are caught quickly. No harm. However, with much greater frequency today, some errors or omissions can, and do, prompt unhappy clients to take legal action — with potentially disastrous consequences. So why not get the tailored coverage you need to handle any suit? The Hanover’s Professional Liability Advantage for business, personal, and professional services is part of a dynamic and ever-growing arsenal of professional liability products brought to you by Hanover Professional Portfolio.

Higher limits, affordable costs

Don’t make the mistake of thinking you’re already covered for these types of exposures through your standard general liability policy. You’re not. But fortunately, with The Hanover’s Professional Liability Advantage for business, personal, and professional services insurance policy you will be. What’s more, this essential specialized protection, now with limits up to $10 million, is available to you at a very affordable cost.

The real cost of trouble*

REAL ESTATE AGENT

A real estate agent failed to disclose to his client (the seller) that he was also representing the buyer in the sale of the home. The seller claimed that he was not aware of the dual agency relationship. He also claimed he sustained financial damages because the realtor falsely indicated that the buyer was “pre-approved” for the loan. The seller demanded $110,000 to settle

SETTLEMENT: $30,000

LEGAL FEES: $12,000
 

MARKET RESEARCH CONSULTANT

A small telecommunications company interested in expanding its sales territory engaged a market research consultant to gather client demographic data. The market research consultant provided this data, which the telecommunications company used as part of their business expansion plan. After falling short of its sales target, the telecommunications company sued the market research consultant, alleging the data was flawed.

SETTLEMENT: $30,000

LEGAL FEES: $12,000
 

BUSINESS CONSULTANT

A small manufacturing company hired a consultant to address productivity issues at its plant. The consultant spent several weeks developing recommendations that were quickly implemented by the company. After making the changes, the company’s productivity dropped dramatically, resulting in a significant decrease in sales from the prior year. A lawsuit cost the consultant more than $42,000.

SETTLEMENT: $30,000

LEGAL FEES: $12,000

The Hanover’s Professional Liability Advantage for business, personal, and professional services at a glance

• Protects against liability for errors or omissions arising out of wrongful acts
• Provides coverage on a claims-made basis with premier defense costs inside the limits (or optionally outside)
• Limits up to $10 million
• Premiums start low and increase depending on your limits, your business operations, and your revenues
• Backed by a financially solid insurance company with an “A” (Excellent) rating from A.M. Best
• World-class service with fast response times
• Simplified, rapid claims resolution
• Highly trained agents who know you

Why you need Miscellaneous Professional Advantage

Everyone makes mistakes. The trick is not to pay dearly for them. Hanover Professional Liability Advantage for business, personal, and professional services protects you from liability caused by “wrongful acts” — any actual or alleged breach of duty, neglect, error, misstatement, malpractice, or omission. If a client sues you for any of these reasons, you could end up being liable for tens of thousands of dollars in damages or, at the very least, huge defense bills.

Not many small businesses can absorb such losses and until now, not many could afford adequate coverage, leaving them open to serious exposures. In today’s litigious society, no professional is safe, especially since lawsuits are on the rise.

What businesses need this must-have coverage

Any business that provides a professional service for others needs Hanover’s Professional Liability Advantage for business, personal, and professional services. This includes:

BUSINESS SERVICES E&O

• Advertising agencies/marketing companies
• Arbitrators and mediators
• Business associations
• Claims adjusters
• Document storage and destruction companies
• Market researchers

PERSONAL SERVICES E&O

• Commercial property ans other inspection services
• Funeral directors
• Home inspectors (Include termite and lead paint)
• Tax preparers
• Travel agents
• Executive search/recruiters
• Graphic designers
• Interior decorating services
• Media services
• Publishers/printers

PROFESSIONAL SERVICES E&O

• Curators
• Management consultants
• Marketing consultants
• Property managers
• Real estate agents/brokers

Coverage highlights

• Claims made and reported form
• Duty to defend/pay on behalf of
• Claim expense limit available outside of policy limit
• Up to $10,000,000 limits available
• $25,000 Defense Coverage for disciplinary proceedings
• Prior Acts Coverage available
• Internet Liability Coverage included
• Minimum premium $1,000
• Deductibles not retentions