Professional Liability Insurance

Professional Liability Insurance for Professional Services

If you own a business that provides a professional service or offers professional advice, you need professional liability insurance. Also known as PLI, professional indemnity insurance (PII) and errors & omissions, professional liability pays out when your company is found liable for damages resulting from professional expertise or services. These types of damages and associated legal fees are not covered by general liability insurance. To learn more about professional liability insurance, contact ISU – Armac. We have more than 20 licensed agents and work with more than 300 insurance carriers nationally, so we can offer one-on-one attention and the most competitive rates. We serve clients in Victorville, Apple Valley, Hesperia, and surrounding communities.

What Professional Liability Covers

Professional liability insurance is only required for certain types of companies that offer professional advice or services. It covers legal fees only for civil lawsuits and will not cover criminal prosecution. PLI works in parallel with general liability policies, which typically only cover costs resulting from bodily injury, and personal and property injuries. It also works in parallel with product liability insurance, which reimburses businesses after a product fails or malfunctions. Common claims insured by professional liability include:

  • Negligence: Negligence claims assert that a company failed to exercise reasonable care and consider potential harm that could befall clients from any action.
  • Good Faith and Fair Dealing: These claims have to do with the assumption that your business and its employees will deal with clients fairly and honestly.
  • Misrepresentation: A misrepresentation claim asserts that a business makes untrue or misleading statements of fact that encourage a client to enter into a contract.
  • Undelivered Services: If your company fails to complete a service, professional liability can cover losses a client incurs and contribute to your legal fees in the event of a lawsuit.

A typical professional liability policy protects a business against losses that occur from any of these types of claims during the coverage period.

Who Needs Professional Liability Insurance?

We see clients from all occupations who would benefit from professional liability insurance. They include:

  • Accountants and money managers
  • Architects and contractors
  • Informational technology professionals
  • Realtors and real estate agents
  • Healthcare professionals
  • Event planners

If you’re unsure if you’re required to carry professional liability insurance, our agents can quickly determine what’s required by the State of California for your profession.

Let Us Help Protect Your Livelihood

We have more than 20 licensed agents and work with over 300 carriers nationwide, so we can provide you with the personalized care you need while shopping for this and any other type of business insurance. ISU – Armac insures clients in Victorville, Apple Valley, and Hesperia, CA. To take a deeper look at your coverage needs and get a free quote, contact us today.