An allegation of professional negligence could be disastrous for an executive coach. Make sure that your small executive coaching business is covered with business insurance tailored for your unique risks.
These policies cover the most common risks of executive coaching.
A business owner's policy, or BOP, is a cost-effective way for executive coaches to buy general liability coverage and commercial property insurance together.
This policy covers common executive coaching risks, such as a trainee injury during a coaching session. Bundle with property insurance for savings in a business owner’s policy.
This policy is also called errors and omissions insurance (E&O). It helps cover legal expenses if an executive coach is sued for a missed appointment or unsatisfactory work.
Most states require workers' comp for executive coaching businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
Commercial auto insurance covers financial losses when an executive coach's vehicle is involved in an accident. It's required for vehicles registered to a business.
Cyber liability insurance helps executive coaches recover from data breaches and cyberattacks. It's strongly recommended for any business that handles credit card numbers or other sensitive information.
As an executive coach, you’re in the business of helping companies get to the next level. If your advice is faulty, however, your client might sue in order to recoup losses. Fortunately, executive coaching insurance can help your small business survive lawsuits, client injuries, and more.