Beazley vs Hiscox Professional Liability (E&O) Insurance

Beazley sells professional errors and omissions coverage bundled inside MediaTech, a single small-business form that also includes technology E&O, media liability and cyber coverage. It is not sold as a standalone professional-liability policy for this segment. ¹Company-reported. US small-business MediaTech product page; does not address any larger-account professional liability program Beazley may write separately.

Hiscox Inc., a licensed insurance intermediary, sells professional liability (errors and omissions) coverage directly online to small businesses as part of its Hiscox NOW admitted small-business catalogue. ^9,10Company-reported. Company-stated online small-business channel.

Beazley's posted Digital MediaTech Application names Beazley Insurance Company, Inc. as the insurer on its cover page. The actual issuing entity for a given policy is confirmed on the quote and declarations, not the blank application. ⁵Company-reported. Application form F00859, 042022 edition; not a regulator record and not evidence of the entity for every state or route.

Hiscox's appetite guide and About Hiscox US page name Hiscox Insurance Company Inc. (NAIC 10200) as the underwriter of admitted Hiscox NOW professional-liability policies. ^12,9Company-reported. Admitted small-business professional liability as described in company materials; the exact contracting entity for a particular state or channel should be confirmed on the quote.

Not described in the reviewed sources.

Hiscox says professional liability is licensed for sale in 49 states and Washington, D.C., excluding Alaska, and that if it does not sell the product online in a buyer's state, a specialist broker may be able to help instead. ^10,12Company-reported. Company-stated jurisdiction for the online small-business catalogue; the appetite guide's technology classes (IT consultants, software development) illustrate typical buyers but do not guarantee acceptance for any one applicant.

The sample MediaTech form covers a Tech & Professional Services Wrongful Act: a negligent act, error, omission, misstatement or unintentional breach of contract in rendering Professional Services, defined as services performed for others for a fee. ⁶Company-reported. Sample policy form F00731, 022019 edition, insuring agreements and definitions; the issued policy's wording and any endorsements control.

The sample form's definition of Professional Services excludes services performed as an accountant, architect, surveyor, health care provider, lawyer, insurance or real estate agent or broker, or civil or structural engineer, so those licensed professions are not covered by this professional E&O trigger. ⁶Company-reported. Sample policy form F00731, 022019 edition, Professional Services definition; a business in one of these excluded professions would need different coverage even if it buys MediaTech.

Hiscox describes professional liability as a claims-made policy, meaning a claim is covered only if it is made (and typically reported) while the policy is active, rather than an occurrence policy covering incidents regardless of when the claim surfaces. ¹¹Company-reported. Product FAQ description; exact triggers, retroactive dates, exclusions and wording are set by the issued policy.

Coverage is claims-made and reported: it responds only to claims first made and reported during the policy period (or a purchased Optional Extension Period), and defense costs reduce the available limit. A buyer can purchase an Optional Extension Period (a tail) for additional premium after non-renewal or cancellation. ^6,5Company-reported. Sample policy form F00731; application form repeats the same notice; specific tail pricing and duration are set in the declarations, not disclosed publicly.

Unless the declarations list a separate amount, each insuring agreement in the sample form (including the professional-liability trigger) shares the same Policy Aggregate Limit of Liability with the policy's media and cyber coverages rather than carrying its own dedicated limit. ⁶Company-reported. Sample policy form F00731, 022019 edition, Limit of Liability and Coverage section; actual sublimits depend on what is purchased and shown on the declarations.

The professional-liability pages reviewed do not publish standard limit, retention or deductible amounts; specific figures are shown only on a quote. ^10,11Not publicly disclosed. Public product and FAQ pages as previously reviewed.

Beazley's MediaTech application asks applicants to describe the professional and technology services they perform, disclose employee count and multi-year US and non-US revenue, and state whether written client contracts include scope-of-work, damages-cap and consequential-damages-disclaimer provisions. ⁵Company-reported. Application form F00859, 042022 edition, General Information, Revenue Information and Contractual Controls sections; a completed application does not establish acceptance.

Hiscox says eligible buyers can quote and buy professional liability online, with licensed advisors available by phone during posted hours for questions during the process. ¹⁰Company-reported. Company-described online application; eligibility and binding conditions require confirmation on the actual application.

Beazley says its cyber and tech claims team, including experienced litigators, has handled thousands of E&O claims, which it describes as including implementation errors alongside software failures and IP disputes. ¹Company-reported. MediaTech product page claims paragraph; outcome and volume figures are Beazley's own description and not independently verified.

A professional-liability FAQ tells current customers that the claims phone line is open 24 hours a day, 7 days a week, separate from the general claims-center hours listed elsewhere on the Hiscox site. ¹¹Company-reported. Company-described claims-reporting availability for this product's FAQ; does not establish claim outcomes or turnaround time.