Professional Indemnity Insurance / Professional Liability insurance
Professional indemnity insurance and Professional Liability Insurance are two major elements of any good comprehensive insurance policy. Here at Kerr Agency, we specialize in creating customized Professional Liability Insurance policies for your business no matter where you operate throughout the NY/NJ metro area and beyond. As your professional commercial lines property and casualty insurance broker, we strive to educate you on the best Professional Indemnity Insurance / Professional liability Insurance policy for you.
While often used interchangeably, these two terms have some slight differences. Our team here at the Kerr Agency can sit down with you and go over why you need Professional Liability Insurance policy.
Professional Liability Insurance will protect companies and individuals against damages and defense costs that may result from acts, errors or omission as part of their performance of professional duties. Many industries and occupations can benefit from this type of insurance, including doctors, lawyers, accountants, architects and engineers. Each professional designation has its own specific policy, such as Lawyers Professional, Security Broker, Architects and Engineers Professional Liability, Construction Managers and Real Estate Agents. There is also a Miscellaneous Class that encompasses hundreds of occupations that provide various financial, business and personal services to others.
Professional Liability Insurance also know as Mal Practice insurance
Professional Liability Insurance may also be referred to as malpractice insurance in the medical industry, or errors and omissions (E&O) insurance for consultants, brokers and lawyers. No matter what you call it, there’s no question you need it. You’ve worked too hard and too long to risk your business and professional reputation. Why not request a quote now?
Kerr Agency can provide you with the protection you need from liability lawsuits against you in claims you were negligent or made an error or omission while performing your services. You don’t want to be left holding a bill that could amount to hundreds of thousands of dollars – this could put you out of business and damage your reputation irreparably. It’s best to get professional liability insurance that can help your company pay the high defense costs and judgments that come from claims of professional negligence, error, or omission.
Professional indemnity insurance covers you for claims made against you that arise from perceived bad work or professional advice on your part. For example, if you or someone who works for you offers advice, a professional service or handles data or intellectual property belonging to a client or business, professional indemnity insurance will protect you if your client suffers a financial loss as a result of your work for them. This is legally required for many professions, such as lawyers, accountants, architects, surveyors, and financial advisors.
Our team would be happy to sit down with you to discuss professional indemnity insurance / Professional Liability Insurance and how it can help your business. Navigating the murky waters of commercial insurance can seem daunting and overwhelming sometimes. We are here to lend a helping hand and cut through all the uncertainty. Thorough, knowledgeable and accessible: that’s Kerr. We help clients in a wide range of business types and industries, from small businesses to enterprise level firms. Call us today to learn more about professional indemnity insurance/professional liability insurance at 732-383-5865.