No matter what industry your professional service firm tends to, it’s important you have proper coverage in case you are ever liable for something that happens on the job. Since we’re only human, error is almost a guarantee, no matter how minimal or rare the occurrence may be.
Comprehensive professional liability insurance can cover, not only your business’s real life transactions, but your virtual ones, too. Look for miscellaneous professional liability coverage that includes cyber exposure while offering payments for your industry’s associated fines, penalties and fees. Such payments should include legal fees and expenses related to crisis management, regulatory action and patient notifications to name a few.
Does your business offer services in more than one state? If so, many plans can be purchased across the United States for a convenient sign up process and simple policy management. In addition to being adaptable based on your business’s region, liability insurance is also flexible in what it offers for dollar limits and deductible amounts.
Miscellaneous professional liability insurance can protect your business from financial risk while ensuring compliance with state laws. If your business is operating under-insured, or with no insurance, research your local insurance options so you, and your clients, can have peace of mind no matter what happens.