What Are the Key Differences Between Hiscox and Simply Business Professional Liability (E&O) Insurance?
A named insurer versus a panel placement
Hiscox names Hiscox Insurance Company Inc. as the underwriter for admitted Hiscox NOW professional-liability policies. Simply Business describes comparing marketplace quotes, and its terms say a panel member must approve binding; the overview does not identify the insurer for a particular offer. Buyers who want to assess the risk-bearing company early can check whether Hiscox sells in their state, while Simply Business shoppers should identify the issuer on each quote. [1] [8]
State availability changes the purchase route
Hiscox says online professional liability is available in 49 states and Washington, D.C., excluding Alaska, with a specialist broker potentially available where online sales are unavailable. Simply Business offers an online comparison flow, but says quotes are not guaranteed and binding depends on panel approval. Confirm your state and business details before treating either screen as a bindable offer. [2] [8]
Claims timing belongs in the coverage review
Hiscox describes its professional-liability form as claims-made: a claim generally must be made and reported while the policy is active. Simply Business lists attorney fees, court costs, settlements and judgments as costs that may be covered, subject to the insurer’s wording, but that overview does not establish a trigger. If your work has long client relationships, compare the retroactive date and reporting requirements on the issued forms. [3] [7]
What Should You Confirm in Hiscox and Simply Business Professional Liability (E&O) Insurance Quotes?
- Ask Hiscox whether your state and profession qualify for online purchase; ask Simply Business to identify the proposed insurer and whether its panel has approved binding. [2] [8]
- Compare claims-made reporting rules and retroactive dates against Simply Business’s actual policy form, including defense costs, exclusions and limits. [3] [7]