Professional Liability Insurance

Do I need professional liability insurance?

Professional liability insurance protects professionals in certain fields against negligence and other claims initiated by their clients. This is separate from general liability insurance, which provides key coverage to businesses and contractors. Oftentimes, general liability coverage doesn’t extend to professionals who have expertise in a specific field.

Some common professions covered by professional liability include:

  • Physicians
  • Accountants
  • Consultants
  • Lawyers
  • Real estate agents
  • Software developers

What does professional liability insurance cover?

Oftentimes, general liability coverage doesn’t extend to professionals who have expertise in a specific field, so they require extra coverage. Professional liability can protect you from claims arising out of business or professional practices such as:

  • Negligence
  • Malpractice
  • Misrepresentation

These plans are usually set up on a claims-made basis, meaning they cover any claims made within the policy period. This may or may not include claims made during the policy period, but relating to occurrences from before the period. The insurance agents at State Wide will help you find the best plan for your professional needs, and will make sure you understand exactly how you’re protected.

What isn’t covered?

In most cases, coverage under these plans often does not include criminal prosecution or legal liability under civil law. Also not included is cyber liability, such as in the event of a data breach, which can be purchased as separate coverage.

If you’re an expert in your field or work in one of the professions listed above, contact State Wide today to find out how a professional insurance plan can protect you.