average E&O claim against Phoenix professional services firms in 2025 — up 34% year over year
E&O (Errors & Omissions — your professional liability) limits set when your firm was smaller, cyber gaps, and BOP exclusions leave Phoenix professional services firms exposed to claims their policies won't fully cover. A free review finds the gaps before a claim does.
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Professional services firms are often the most underinsured businesses in Phoenix — because the risks are invisible until a claim arrives.
Professional liability limits are typically set at inception based on contract values at that time. As your firm grows and takes on larger engagements, those limits become inadequate — but most firms never revisit them at renewal. If your largest contract exceeds your E&O limit, you're personally liable for the difference.
Professional services firms hold sensitive client data — financial records, legal documents, strategic plans. That makes them high-value targets for data theft and ransomware. Most standard BOPs either exclude cyber entirely or have sub-limits that don't reflect the actual cost of a breach response.
A Business Owner Policy is designed for general liability and property. It explicitly excludes professional liability — E&O claims from errors in your work, advice, or deliverables. Many professional services firms have a BOP and believe they're covered for professional errors. They're not. These are separate policies.
We review your E&O limits against your current contract values, check your cyber coverage for healthcare and professional services exclusions, and confirm your BOP correctly excludes what it should — and that you have separate coverage for what it doesn't.
With Phoenix's professional services sector growing alongside the metro's business expansion, E&O claim frequency and severity are both trending up. The potential average claim of $310K exceeds the limits most small and mid-size professional firms carry — and most don't know it.
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