Professional Liability 2018-01-08T11:55:06+00:00

Special professional liability coverage for service providers

Professional liability insurance covers damages arising from the rendering of, or failure to render professional services. Protect yourself and your business from claims not covered by commercial general liability coverage with this more comprehensive insurance product.

Professional liability insurance, also referred to as professional indemnity insurance, protects professional personnel against negligence claims made by their patients or clients. Professionals who commonly turn to this type of liability insurance for coverage include architects, home inspectors, lawyers, physicians, real estate brokers and accountants—among others. Specific professional liability insurance carries may have different names depending on the profession. For example, professional liability insurance in the medical profession may be called medical malpractice insurance, while real estate brokers fall under errors and omissions insurance coverage.

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Why does our business need professional liability coverage?

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.

Frequently Asked Questions

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.

An important criterion is questioning if the insuring agreement is broad enough to capture all of the current and future work of the policyholder. Determine if the policy covers the scope of your organization’s professional tasks and services by reading the definition of the covered services in the policy. For example, in a medical professional’s professional liability coverage, the operative definition would be “medical services” or a comparable phrase. Acumen Solutions Group can help you determine if all professional tasks would be covered under the operative definition.

We offer many other insurance products

Acumen Solutions Group offers additional types of insurance products to meet the needs of your business. We understand the insurance needs of specialized industries and build our programs to fit your individual situation.

Related Products

In addition to professional liability protection, you may consider building a more comprehensive program including other insurance products for your business and assets.

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