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PROFESSIONAL LIABILITY INSURANCE
In today’s litigious society, lawsuits against businesses are common. And as a business owner, you need to be prepared to protect the integrity of your company if an incident or mistake turns into a claim. At our agency, we understand that mistakes happen. That is why we are committed to helping you create a Professional Liability policy that keeps your day-to-day operations protected should your business be held legally liable.
While it is important for your business to have general liability coverage for property damage and bodily injury, our agency recommends adding Professional Liability Insurance to your business portfolio because it insures the people and/or entities of your business from negligent claims made by third parties, or even internal sources.
From failure to render a service to malpractice suits, Professional Liability can provide a wide variety of options, such as:
Errors and Omissions Liability (E & O)
E & O covers any mistakes made by employees who work on behalf of your business, if your business charges fees for your services. It can include coverage for any errors such as failure to perform or violations of contract. Depending on your industry, your insurance needs will vary.
Directors and Officers Liability (D & O)
Directors and Officers Liability Insurance (D&O Insurance) is a type of liability insurance that provides financial protection to directors and officers of a company in the event they are sued for alleged wrongful acts committed in their capacity as company executives.
D&O insurance covers the costs associated with legal defense, settlements, and judgments in lawsuits brought against directors and officers for alleged acts of negligence, errors, omissions, breaches of duty, or wrongful acts related to their managerial decisions. It is designed to protect individuals from personal liability and safeguard their personal assets in case they face legal action.
The coverage typically extends to claims arising from a variety of sources, including shareholders, employees, customers, competitors, regulatory bodies, and other stakeholders.
Employment Practices Liability
With proper insurance, your business can be protected if a worker claims that his or her rights have been violated. This can include violations from sexual harassment and discrimination to violations of the Americans with Disabilities Act (ADA), mismanagement of employee benefit plans, and wrongful termination.
Malpractice Insurance
Medical malpractice refers to the negligence or misconduct committed by a healthcare professional, such as a doctor, nurse, or medical institution, that deviates from the accepted standards of care, resulting in harm or injury to a patient. It occurs when a healthcare provider fails to provide treatment or performs an act that falls below the recognized standard of care, leading to negative consequences for the patient.
Professional Liability Insurance
Protects individuals and companies from assuming the full cost of defending a lawsuit that claims negligence of the individual or business. Any professional who provides a service, expertise or advice to clients for a fee can benefit from coverage against liability lawsuits.
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