Call Schell Insurance at (972) 423-4546 for a personalized quote or visit https://schellinsurance.com to learn more about their comprehensive insurance solutions.

If you run a service or advice-based business in North Texas, there's one coverage gap that can quietly put everything you've built at risk: a professional mistake. Your Business Owners Policy won't touch it. Your general liability won't touch it. In this episode of Insurance Talk Texas, we break down professional liability insurance — also known as errors and omissions, or E&O — and explain exactly how it protects Texas professionals when a client claims your work caused them financial harm.

We cover the real difference between general liability and professional liability, why E&O pays your legal defense even when a claim is completely false, and the Texas-specific details that catch business owners off guard. Most importantly, we dig into why professional liability is written on a claims-made basis, what the retroactive date actually means, and how a single lapse in coverage can erase protection for years of your past work.

WHAT YOU'LL LEARN:

• The difference between general liability and professional liability (and why you likely need both)
• What errors and omissions insurance actually covers — negligence, mistakes, missed deadlines, and misrepresentation
• Why E&O responds to claims even when you did nothing wrong
• Claims-made vs. occurrence coverage explained in plain English
• The retroactive date and why protecting it is critical when you switch carriers or renew
• Why Texas real estate agents must keep the same retroactive date across carriers
• Tail coverage and extended reporting periods for business owners who retire or close
• Which Texas professions are legally required to carry coverage — and which aren't
• Why your clients and contracts often require E&O even when the state doesn't
• Common exclusions: intentional acts, fraud, criminal conduct, bodily injury, and property damage

This episode is essential for real estate agents, brokers, and inspectors, IT and technology consultants, accountants and bookkeepers, financial advisors, architects and engineers, marketing and design firms, and any professional across Collin County and Denton County who gives advice or delivers a service for a living. If you serve clients in Frisco, McKinney, Plano, Prosper, Allen, or the surrounding North Texas communities, understanding how professional liability works could be the difference between a manageable claim and a business-ending lawsuit.

At Schell Insurance, our team helps North Texas business owners build layered protection that fits their profession — and we track the details, like your retroactive date, that are easy to lose sight of on your own. As a local independent agency, we shop multiple carriers to find coverage that matches your real-world exposure.

Don't wait until a claim shows up. With claims-made coverage, the protection has to be in place before the claim arrives. Get your retroactive date locked in now.

Call Schell Insurance at (972) 423-4546 or visit https://schellinsurance.com to talk with a Texas insurance expert about professional liability coverage for your business.

Serving Frisco, McKinney, Plano, Prosper, Allen, and the greater Collin County and Denton County area.

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