In Pennsylvania professional liability insurance is needed to protect all employees who perform “professional” services, or those that require certification or special training. Such liability insurance helps shield you or your company from lawsuits filed by customers or clients who might allege that you performed services negligently and caused them some form of harm.
Who Needs Professional Liability Insurance?
Professional liability insurance, sometimes referred to as errors and omissions or E&O insurance, is used in many occupations. Some professionals who commonly purchase E&O policies include:
- Medical practitioners
- Construction workers
- Financial advisors
- Real estate brokers
What Does Professional Liability Insurance Typically Cover?
Pennsylvania professional liability insurance policies can be purchased to cover expenses such as legal fees, settlements and damage awards incurred if a client or customer sues you. Common general claims that may fall under professional liability coverage include negligence by you or your employees, misrepresentation in dealings, incorrect or inaccurate advice, or violation of good faith and fair dealing in your practice.
Policies Are Easily Adapted For Your Needs
Whether you want a professional liability insurance policy that will merely limit your exposure in a lawsuit or will cover all expenses incurred from start to finish, it can be tailored to you. Policies can insure certain individuals or your entire firm, and they can even be written to include coverage for independent contractors. With prior acts coverage, your policy can insure you against claims that arise from periods before your coverage was purchased.
Nothing can be more devastating to your career or company than an expensive lawsuit. A comprehensive professional liability policy can provide protection and a sense of security against such potentially overwhelming and expensive claims.