As a professional you are held to a higher standard of care for the services you and your staff provide.
Professional Liability Insurance
Protects the professional who gives advice or provides a service, such as medical, financial, accounting and legal, to name a few. Another common need for professional insurance comes from the building industry. Plumbers, electricians, design/build firms and beyond, need professional insurance if they are involved in designing, altering or advising a client on their project or specific trade.
Commercial General Liability
This policy generally excludes coverage for professional services, which is where the Professional Liability policy steps in, covering claims alleging an error or omission, neglect, misconduct or other negligent act.
This insurance will pay for your defense, even if the claim is found to be baseless. The cost of litigation has risen dramatically, making this coverage invaluable. Coverage also includes court costs and any resulting judgments, up to the coverage limit.
Who should carry Professional Liability Insurance?
- Appraisers and Realtors
- Architects, Engineers and Design/Build Firms
- Construction Trades, Electricians, Plumbers, etc.
- Directors and Officers for non-profit and for-profit organizations
- Financial Advisors and Brokers
- Information Technology Professionals and Computer System Designers
- Medical Professions
Contact us at North Risk Partners™ to discuss protecting your business and good reputation with Professional Liability coverage.