Professional Liability Insurance

What Is Professional Liability Insurance?

Professional liability insurance protects individuals and companies from assuming the full cost of defending a lawsuit that claims negligence of the individual or business. A claim of negligence, malpractice or misrepresentation is not covered under a general liability insurance policy, which makes professional liability insurance crucial for those who provide a service or advice for a fee. Depending on the profession, professional liability insurance may take on different forms and names, like malpractice and E&O insurance.

The number of liability lawsuits against professionals has increased in recent years. Many professionals within a variety of industries are at risk of being sued, whether the charges are valid or unfounded. Such lawsuits can mean financial ruin both professionally and personally, including the loss of cars, homes, and careers. Professional liability insurance helps with the financial burden of these events.

Who Benefits from Professional Liability Insurance?

Any professional who provides a service, expertise, or advice to clients for a fee can benefit from coverage against liability lawsuits. Even with quality employees and risk management practices in place, people still make mistakes. A general liability policy may not cover mistakes that could be made. Professional liability insurance will protect your business and its finances if such an event arises.  If you have a license, a designation, or other professional recognition in Architecture, Engineering, Design and Construction Accounting, Law, Real Estate, Business and Technology, etc., you need this coverage.

Managers, Directors and Officers also have special liability exposures for the decisions they make in employment law, financial management, business planning, and much more.  These coverages are specialized as well:

  • Directors & Officers
  • Employment Practices Liability
  • Cyber Risk
  • ERISA Fidelity & Fiduciary Liability
  • Employee Crime & Fidelity Bonds

Get Started Today!

A qualified agent at Dean, Heckle & Hill, Inc. will evaluate your business to determine its unique insurance needs and find you the professional liability policy with the necessary coverage. Contact us if you have questions or want a quote to get started. We are happy to help you get the protection you need.

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