Counterpart Launches Aspen-Backed Miscellaneous Professional Product to Management Liability Suite

LOS ANGELES, Dec. 1, 2022—Counterpart today announced the addition of Miscellaneous Professional Liability (MPL) insurance to its existing suite of management & professional liability products and services available to small businesses through Counterpart’s wholesale broker partners. 

Also known as Errors & Omissions (E&O) insurance, MPL safeguards professionals who provide a service—predominately small business owners—from losses related to customer claims like failure to provide the expected level of service, inadequate work or negligent actions. 

While E&O insurance has long been associated with traditional professionals like lawyers, architects or accountants, MPL covers a more diverse list of service professionals—property managers, consultants, third-party administrators, etc.—more than 80 different business classes.  

In 2022, 33.2 million small businesses operated in the U.S. with professional and technical services topping the industry list at 4.6 million, now accounting for more than 99% of all U.S. businesses, according to the U.S. Small Business Administration Office of Advocacy.  

As the professional services sector has continued to grow, so, too, have the risks that small business owners face. More than 40% of service professionals will experience customers alleging non-performance of products and services, according to a 2020 Professional Liability Risk Report. Yet, despite rising litigation costs, 20% of professional service providers don’t have MPL insurance.

“The U.S. economy has always been driven by small businesses, and technology is making it easier than ever for professionals to strike out on their own,” says Tanner Hackett, CEO of Counterpart. “But these businesses often lack the sophisticated compliance infrastructure of larger corporations—leaving them exposed to greater business and personal risk.

“We are passionate about helping small businesses thrive in this complex economic landscape,” Hackett adds. “And that means making it easier for companies to understand their exposures and get the coverage they need.” 

The new A-rated MPL product line, offered in partnership with Aspen insurance, provides coverage of up to $3 million with limits for private businesses of up to $10 million in revenue.

A natural extension of Counterpart’s existing management liability products and services, MPL is available as a stand-alone policy or can be packaged with other Counterpart offerings of Directors & Officers, Employment Practices, Fiduciary, and Crime insurance.

“Because MPL is designed to safeguard a variety of business types, the risks can vary dramatically from policy to policy,” says Matt Price, Head of Finpro Program Operations at Aspen. “Counterpart’s MPL product was cleverly designed to leverage sentiment analysis to determine a company’s unique risks.

“Counterpart’s tailored approach to underwriting opens the doors to many small businesses that might not otherwise opt for this coverage,” Price adds.

Learn more about Counterpart’s products and services by visiting Brokers can get appointed online.


About Counterpart

Counterpart leverages sophisticated technology and data science to provide small businesses with custom and affordable management and professional liability solutions. The company partners with leading brokerages nationwide to provide insurance products and risk-management services that are tailored to their client’s unique and evolving needs. Learn more about Counterpart’s Directors & Officers, Employment Practices, Fiduciary, Crime, and Miscellaneous Professional Liability insurance products which are backed by Markel (A.M. Best “A” Rating*) and Aspen Insurance (A.M. Best “A” Rating*) at

About Aspen Insurance Holdings Limited

Aspen provides insurance and reinsurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Singapore, Switzerland, the United Kingdom, and the United States. For the year ended December 31, 2021, Aspen reported $13.8 billion in total assets, $7.6 billion in gross reserves, $2.8 billion in total shareholders’ equity, and $3.9 billion in gross written premiums. Aspen’s operating subsidiaries have been assigned a rating of “A-” (Strong) by Standard & Poor’s Financial Services LLC and an “A” (“Excellent”) by A.M. Best Company Inc. For more information about Aspen, please visit

Media Contact:

Sarah Meade 

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