Professional Liability insurance is specialty coverage that is not provided under your homeowners, in home business, or, your business owners policies. It may also be referred to “Errors and Omissions” liability insurance. In the medical field, it’s referred to as Medical Malpractice insurance.
As a professional, you’re expected to have extensive technical training and the knowledge in order to perform your services for hire. Additionally, your services must be provided in accordance with the standards of conduct in your field of expertise. If you fail to use the degree of skill expected, you risk financial loss if found legally liable for harm or damage that you cause to any person or business.
Some common law suits filed against professionals include negligence, misrepresentation, violation of good faith & fair dealing, and, even inaccurate advice.
If you are a professional operating your own business, professional liability insurance is a must. Contact our office for more information regarding this important coverage.& how it can protect you personally.