The Hartford Financial Services Group has unveiled a new product that is designed to protect small and midsize employers in the service industry from lawsuits. The insurer has just introduced The Hartford Professional Choice Liability Policy, which is aimed at protecting employees and their employers who are involved in the business services industry. The policy would cover market researchers, loss control specialists, franchisors, and content managers. Also covered would be advertising and public relations firms and third party administrators.

The professional liability insurance, commonly referred to as E&O coverage, protects professionals from liability in cases where a professional's action has resulted in financial damages to a client. Hartford Financial Products Assistant Vice President Steve Prymas says the policy will help protect employers that typically have gone without the coverage.

“No longer is professional liability litigation limited to large companies. A growing number of mid-size and smaller business services firms are on the receiving end of lawsuits related to the work they do,” said Prymas in a statement announcing the new product. “Our research shows that 48 percent of these firms have no professional liability coverage, often believing they are too small to need it or that they can't afford it. Others mistakenly think professional liability is covered somewhere in their regular business policy.”