Professional Liability Insurance
Did you know that you could be sued for negligence even if you haven’t made a mistake? When you work in a specialty field, you are vulnerable to certain types of lawsuits. When you find yourself in a dispute with a client or customer, don’t be left unprotected against legal claims. Even if these claims are proven false, you may still lose money in an expensive legal battle, or you could be backed into a costly settlement. Professional liability insurance protects you from claims of negligence, work mistakes, or undelivered services. Also called errors and omissions (E&O) insurance, this coverage offers you the best protection.
Who needs professional liability insurance?
Some professionals in extremely high-risk industries may already know that they need coverage. Here are some of the most common professions that could benefit from professional liability insurance:
In addition to the professions above, these industries could also benefit from coverage:
- Commercial Printers
- Advertising Agencies
- Security Professionals
- Software Developers
- Marketing Companies
- Technology Startups
- Insurance Brokers
- Financial Advisers
It’s important to remember that professional liability insurance isn’t just for your benefit! When you make it clear to clients and potential clients that you have a policy in place to compensate them in the event of an error, both parties can enter the working relationship knowing that they will receive appropriate compensation if accidents happen. Professional liability insurance is just another way to show the individuals you’re working with that you are reliable and trustworthy.
The best time to purchase professional liability insurance is before an error is made and a claim is filed. Professional liability insurance gives you the freedom to be proactive instead of reacting when a problem arises.
Frankel & Associates is an industry leading brokerage for professional liability insurance. Our extensive professional network allows us to source the best policies for your needs and budget. As an independent brokerage, we’re able to offer our unbiased opinions and steer you toward the best coverage for your business. We know it’s important to understand the challenges and risks of your profession, so we work to build a relationship with you. As your needs evolve, we’ll grow right along with you, helping you expand in whatever way may be necessary.