What Are the Key Differences Between Mylo and Simply Business Professional Liability (E&O) Insurance?
Mylo explains claim triggers in more detail
Mylo describes E&O as responding to breach-of-contract allegations, financial loss and consequential damages arising from a client relationship, as well as some bodily-injury or property-damage claims. Simply Business describes claims tied to professional work and lists attorney fees, court costs, settlements and judgments as potentially covered costs, subject to policy wording. Ask the quoted insurer how it treats each claim scenario relevant to your client work. [4] [5]
Form timing can change how a claim is reported
Mylo explains that professional liability can use claims-made or occurrence forms, and that tail coverage may extend reporting after a claims-made policy ends. Simply Business’s reviewed overview does not identify which trigger applies to a particular quote. If you may change providers, compare the proposed form, retroactive date and reporting extension before selecting either marketplace recommendation. [4] [5]
Both routes compare insurers, with different published detail
Mylo says it compares quotes from multiple business insurers and recommends coverage tailored to the business. Simply Business also describes comparing quotes online, with panel-member approval required before binding. Neither general overview establishes the insurer, limits or price for your risk; assess the actual offers side by side after submitting matching business details. [3] [6]
What Should You Confirm in Mylo and Simply Business Professional Liability (E&O) Insurance Quotes?
- Ask Mylo to identify whether each offer is claims-made or occurrence and show the retroactive date and tail terms; request the same details from each Simply Business insurer. [4] [5]
- Give both routes identical client contracts and loss scenarios, then verify covered damages, defense costs, exclusions and binding approval in the insurer’s form. [4] [6]