Two Tiers of Professional Liability Coverage (Errors & Omissions)
Many of the professional photographers that contact me to review their current policy DO NOT have professional liability coverage. They have general liability coverage only. Consider this:
Professional Liability Coverage - This coverage responds to Third Party loss caused by a “wrongful act” arising out of ‘professional services.’ Covers liability and defense costs from claims that allege errors or omissions in the rendering of professional services. Protects insureds from “Wrongful Acts” arising out of Professional Services:
Negligent Act
Errors and Omissions
Misleading Statement or Misstatement
One example of this coverage is as follows: A family hired a photographer to take family portraits as well as individual pictures of their three children. The agreement with the photographer stipulated that they would retain all pictures, and that the photographer would retain all negatives for in-house use only. While shopping at a local clothing store, the family discovered several of their pictures had been sold as advertising photos to the store. Further investigation revealed that several other photos had been sold by the photographer to catalog companies for use in upcoming advertisements. The family sued alleging breach of contract. The claim settled for $50,000 with legal fees of $20,000.
In addition to broad professional liability coverage I recommend an additional specified form of professional liability called "Photography Endorsement"
PHOTOGRAPHY ENDORSEMENT RIDER - For about $10 per month you can now cover the following:
Failure To Deliver Photographic Product - Covers you "because of a failure to deliver photographic product due to loss of or damage to photographic film or electronic media in connection with the operation of your business as a photographer."
These statements are advisory in nature and not a guarantee of coverage. Read your policy for coverage, limitations, and exclusions.
We will customize a proposal for your business. To do this we need some information about you. Please us the "Request A Quote" form on this site to provide us with this information. Happy to help. www.nationalphotographersinsurance.com
