NEW YORK, April 15, 2011 /PRNewswire/ -- Life is full of unknowns, especially for small business owners working hard to get their businesses going.  Potential lawsuits are one of the biggest unknowns that can shut down a small business.  In 2011, small businesses are projected to incur $152 billion in tort liability costs, according to the U.S. Chamber Institute for Legal Reform.  Professional liability insurance can be an easy and inexpensive way to cover the defense costs of possible lawsuits.

Professional services businesses that advise clients, including IT consultants and marketing consultants, are particularly vulnerable to lawsuits from unsatisfied clients.  The danger of a lawsuit is always lurking, regardless of the quality of the advice they provide their clients, and lawyers can represent a significant cost.  The cost of professional liability insurance to protect against covered claims and lawsuits, warranted or not, can be as little as $25 a month.

It's not only dissatisfied clients that small professional services companies need to worry about; unfortunately there are also dishonest clients who could file suit looking for a quick settlement.  Professional liability insurance defends businesses against covered claims and offers the security to stand firm against groundless lawsuits.

"Everybody make mistakes, but these don't need to be fatal to your business and your other assets," said Kevin Kerridge, small business insurance expert from Hiscox USA. "However, small businesses are vulnerable to lawsuits even if they've done nothing wrong. Purchasing professional liability insurance for a small business allows owners to focus on their customers and worry less about potential troubles around the next corner and any potential attorneys' fees."

Designed specifically for the small and home-office market, Hiscox small business professional liability insurance coverage (errors and omissions insurance) is customized for a range of knowledge-based professions including IT, management consulting, business consulting and marketing. Hiscox offers professional liability insurance quotes direct and online in real-time along with other liability insurance products such as general liability insurance.  Hiscox's licensed insurance advisors are solely focused on helping small businesses with their insurance needs.

To learn more about Hiscox Small Business Insurance, visit http://www.hiscoxusa.com/small-business-insurance/ or speak with a Hiscox licensed advisor at (888) 202-3007 (Monday through Friday, 8:00 AM – 10:00 PM EST).

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About Hiscox in the U.S.

Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE: HSX). There are three main underwriting parts of the Group – Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox International includes operations in Bermuda, Guernsey and the USA. Hiscox ASM Ltd, Hiscox Underwriting Ltd and Hiscox Syndicates Ltd are authorized and regulated by the UK Financial Services Authority. The ability of syndicates at Lloyd's to do business in the USA and its territories is restricted as they are not US-based insurers.

Hiscox Inc., a Delaware corporation headquartered in New York, d/b/a Hiscox Insurance Agency in CA, is a licensed insurance intermediary for admitted and surplus lines business. Hiscox Inc. underwrites on behalf of, and places business with, Hiscox Insurance Company Inc., other domestic insurers, and syndicates at Lloyd's (www.lloyds.com). Hiscox Insurance Company Inc. is a Chicago, IL domiciled insurer which is admitted or licensed to do business in all 50 states and the District of Columbia.

Inquiries as to insurance, products or services, other than those offered by Hiscox Small Business Insurance, should be directed to an insurance agent or broker licensed to conduct business in the relevant U.S. state. For further information about an insurer's ability to do business in the USA and US territories please contact a licensed agent or broker for advice.

This communication provides general information on Hiscox's products and services only and, except with regard to Hiscox Small Business Insurance, is not intended to be, and does not constitute, a solicitation of business by syndicates at Lloyd's from or in respect of the USA or U.S. territories. The information contained herein is not a part of an insurance policy, and may not be used to modify any insurance policy that might be issued. In the event the actual policy forms are inconsistent with any information provided herein, the language of the policy forms shall govern.

About Hiscox Small Business Insurance

Hiscox is the first company in the U.S. to offer insurance coverage for professional services businesses with 10 employees or less direct, online, and in real-time. We provide professional liability, general liability and business owners insurance, underwritten by Hiscox Insurance Company Inc.  We also offer workers' compensation insurance provided by EMPLOYERS^®.  Hiscox Insurance Company Inc. is rated 'A' (Excellent) by A.M. Best Company.

Quote and buy customized coverage online at hiscoxusa.com/small-business-insurance/ or by calling a Hiscox licensed advisor at (888) 202-3007 (Mon-Fri, 8:00 AM -10:00 PM EST).

About Employers Holdings, Inc.

Employers Holdings, Inc. is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates coast to coast. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at: http://www.employers.com.

EMPLOYERS^® and America's small business insurance specialist^® are registered trademarks of Employers Insurance Company of Nevada. Workers' compensation Insurance is offered through Employers Compensation Insurance Company, Employers Insurance Company of Nevada, Employers Preferred Insurance Company, and Employers Assurance Company. Not all insurers do business in all jurisdictions.

Disclaimer

Coverages are subject to underwriting and may not be available in all states.  As of December 31, 2010, Hiscox Insurance Company Inc. had admitted assets of $67,630,365 and policyholders surplus of $55,085,042. Total liabilities were $12,545,323 (inclusive of $1,968,156 in  reserves) and paid up capital stock was $4,200,000.

SOURCE Hiscox USA