According to a recent report by Forbes Insights and The Hanover, while 40% of small business owners believe they face professional risks, most do not purchase miscellaneous professional liability insurance along with their business owner's policy or commercial package policy.

There have been significant changes in the ways small businesses interact with customers over the last 15 years — from a burgeoning "consulting" class to the birth and explosion of social media.

However, many small businesses have not made corresponding changes to their insurance policies to reflect these risks, often because they mistakenly believe their general liability policies also cover them for risks associated with providing professional services. This gap in coverage presents a great opportunity for agents to offer valued counsel to their clients.

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