• HOME
• COMMERCIAL INSURANCE
• PROFESSIONAL LIABILITY

Professional Liability

Professional liability insurance, also known as professional indemnity insurance, protects professionals and companies against potential negligence claims made by clients. For many industries, professional liability insurance is the equivalent form of errors and omissions insurance. Today, professional liability insurance is one of the most important types of liability coverage.

You may already have a general liability insurance policy, so why should you consider professional liability insurance? General liability insurance typically covers damages to a person or a business, such as a slip and fall, a product defect or the publishing of inaccurate information. Professional liability insurance, however, is secured to cover less tangible claims resulting from a company or a person's omissions and errors and include claims made for negligence, failure to perform and inaccurate advice. This insurance also covers perceived financial loss and violation of good faith and fair dealing.

Any company that provides a service, from interior designers to office management to consultants, can benefit from securing professional liability insurance. A dissatisfied client may try to sue a company, claiming that his financial losses are due to the company's poor consulting advice. For example, in April 2010 in South Florida, a yacht brokerage house and a marine surveyor were both found legally liable for sums of up to $2 million for misrepresentation and negligence with regards to the sale of a yacht. Professional liability insurance protects companies in these situations where there is a perceived financial loss or misrepresentation.

Contact First Name Contact Last Name Position / Title Company How would you like to be contacted?  By EmailBy Phone Email