Professional Liability

Protect yourself and your business from claims not covered by Commercial General Liability Coverage.

Managing a business in today’s litigious environment places your company’s assets at risk in many different ways. The day to day activities of any business, large or small, create exposure to costly and time-consuming litigation. Numerous insurance products have been developed to manage these risks. 

Professional Liability Insurance, also referred to as Professional Indemnity Insurance, protects professional personnel against negligence claims made by their patients or clients. Professional Liability Insurance covers liability for damages arising from the rendering of or failure to render professional services.

Professionals who commonly seek this type of liability insurance for coverage include; Architects, home inspectors, lawyers, physicians, real estate brokers and accountants—among others.

 

Professional Liability Considerations:

The need for Professional Liability coverage developed due to typical General Liability insurance policies only responding to bodily injury, property damage, personal injury or an advertising injury claim. Because professionals such as architects, lawyers, physicians, real estate brokers, technology consultants and others can cause claims without bodily injury, property damage, personal injury or an advertising injury claim, additional coverage is needed to fill this gap.

Common claims made on these policies include negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice.

For Example, if a web design platform fails to perform properly, it would not cause bodily injury, property damage or advertising injuries. Because of this, the General Liability policy would not be triggered. But because the web design platform not performing correctly could directly cause financial losses, and may be attributed to a misrepresentation of the platform’s capabilities, the Professional Liability coverage would be triggered.

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