Markel vs Simply Business: Professional Liability / E&O Insurance

Simply Business lets consultants, IT professionals, real-estate agents and bookkeepers compare quotes online, with binding needing panel-member approval. Markel Insurance states miscellaneous E&O up to $2 million for small businesses.

Kearny Risk organizes these comparisons for firms whose advice, content or technology creates professional exposures.Research updated 2026-09-30

Markel describes miscellaneous E&O for targeted small businesses up to $5 million in revenue, with coverage up to $2 million. Simply Business gives consultants, IT professionals, real-estate agents, and bookkeepers as examples and outlines an online quote-comparison flow.

What Are the Key Differences Between Markel Insurance and Simply Business Professional Liability (E&O) Insurance?

A Stated Product Ceiling Versus Online Quote Shopping

Markel states a $2 million maximum for its miscellaneous E&O product and describes a target of small businesses up to $5 million in revenue. Simply Business focuses on process: answer business questions online, compare quotes, and select a policy. For a buyer, Markel's published maximum offers an initial limit reference, while Simply Business's workflow is the documented route for seeing panel options; its terms say an online quote is not guaranteed and binding requires panel-member approval. [3] [4] [5]

Which Work the Pages Address

Markel calls its product miscellaneous E&O for professional-services claims and identifies targeted small-business industries. Simply Business names consultants, IT professionals, real-estate agents, and bookkeepers as examples of businesses it can help find coverage for. These examples can guide an initial inquiry, but Simply Business says they do not guarantee eligibility; compare the exact services and revenue on the application rather than relying on an industry label. [3] [4]

Covered Claim Costs

Simply Business lists attorney fees, court costs, settlements, and judgments among costs its E&O policies may cover, subject to policy wording. Markel's product page describes miscellaneous E&O for claims arising from professional services but does not provide the same itemized cost list in its offering record. Ask both to show how defense expenses affect the limit and which contract or service disputes are covered. [4] [3]

What Should You Confirm in Markel Insurance and Simply Business Professional Liability (E&O) Insurance Quotes?

  • Ask Markel which industries qualify under its targeted appetite and whether a quote can approach its stated $2 million maximum. [3]

  • Ask Simply Business which panel member issues the quote, whether approval is still required, and how attorney fees reduce or sit outside the stated limit. [5] [4]

Areas of coverage

Markel Insurance

  • role: Markel describes offering professional errors omissions for the audience stated on the cited product page. professional errors omissions marketed by markel; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.company-reportedSource ↗
  • eligibility: Small businesses in ProBiz's targeted industries; source describes businesses up to $5 million revenue for the miscellaneous E&O product. professional errors omissions marketed by markel; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.company-reportedSource ↗
  • coverage: The cited product page describes miscellaneous E&O for covered claims arising from professional services, with the page describing separate E&O and management-liability products. Marketing description only; actual coverage, exclusions, conditions, limits, and availability depend on the issued policy and jurisdiction. professional errors omissions marketed by markel; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.company-reportedSource ↗
  • application: The page invites prospective customers or brokers to contact Markel or the named underwriting team. The page does not establish a quote, bind, or coverage-effective timeline. professional errors omissions marketed by markel; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.company-reportedSource ↗
  • limits: For its miscellaneous E&O product, Markel states coverage up to $2 million; this is a product-page maximum, not a promise that every applicant or quote receives that amount. Markel ProBiz miscellaneous E&O marketing page; class, underwriting, policy terms, and actual quoted limit control.company-reportedSource ↗

Simply Business

  • coverage: The page describes protection for claims tied to professional work and lists attorney fees, court costs, settlements and judgments as costs that may be covered; policy wording controls. Company-published professional-errors-omissions information for U.S. small businesses; availability and actual policy terms depend on the insurer, state and buyer.company-reportedSource ↗
  • eligibility: Simply Business lists consultants, IT professionals, real-estate agents and bookkeepers among the business examples for which it can help find E&O coverage. The examples do not guarantee eligibility. Company-published professional-errors-omissions information for U.S. small businesses; availability and actual policy terms depend on the insurer, state and buyer.company-reportedSource ↗
  • application: The company describes an online flow to answer business questions, compare quotes and select a policy. Its Terms say an online quote is not guaranteed and binding requires panel-member approval. Company-published professional-errors-omissions information for U.S. small businesses; availability and actual policy terms depend on the insurer, state and buyer.company-reportedSource ↗Source ↗

Sources reviewed

  1. 01
    Professional Liability – US Direct Errors and Omissions Insurance

    Hiscox Inc. specimen · About this Policy / Coverage for Claims Made Against You; I.A Insuring Agreement; I.B Defense; I.C Settlement; II.A Notice of Claims; II.C Optional Extended Reporting Period; III.A, III.K, III.M, III.R, III.S Exclusions; IV.A–B Limits and Deductible; VI.O Professional Services; VI.U Wrongful Act · accessed 2026-09-16

  2. 02
    Professional liability insurance

    Insurance Information Institute · Opening paragraphs (professional services/advice and E&O name); Claims not covered by general liability; What types of businesses need professional liability insurance?; What’s covered… and what’s not (claims-made versus occurrence, defense and judgments, non-financial/intentional limits, BOP/in-home exclusion) · accessed 2026-09-16

  3. 03
    ProBiz | Professional Liability Coverage

    Markel · Miscellaneous E&O; types of covered professional-service errors; ProBiz target classes and process. · accessed 2026-09-30

  4. 04
    Professional Liability Insurance Coverage

    Simply Business · Coverage lines 45–100; buyer examples lines 101–158; online quote steps lines 237–260. · accessed 2026-09-29

  5. 05
    Terms of Service

    Simply Business · Dated June 30, 2026; §1 lines 22–28; §8 lines 87–113; §10 lines 143–149; §19 line 211. · accessed 2026-09-29

  6. 06
    FAQ: Professional liability insurance

    Texas Department of Insurance · What’s professional liability coverage?; What types of damages…; What’s general liability insurance?; Do I need professional liability… if I have general liability…?; Is professional liability insurance required?; Can a client require…?; What’s the difference between occurrence policies and claims-made policies · accessed 2026-09-16

  7. 07
    Get business insurance

    U.S. Small Business Administration · Six common types of business insurance table · accessed 2026-09-16

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