What Is Covered By Professional Liability Insurance?

The agents of Lebherz Insurance in Frederick, MD,  specialize in Professional Liability insurance.  Professional liability insurance coverage protects you from the risks in the delivering of professional services. Professional liability insurance (PLI), is also referred to as Professional Indemnity Insurance (PII).   Professional liability insurance coverage is an errors & omissions form of liability insurance.   Professional liability insurance coverage should be obtained if you or your business gives advice to clients and provide a professional service,   You face legal liability for errors you allegedly made in your services or for ommissions in providing services that should have been implemented.

One who provides any professional service that causes financial harm may face legal action.  For example, Professional Liability Insurance is used, but not limited to by attorneys, physicians, appraisers, notaries public, real estate brokers, management, information technology service providers, insurance agents, home inspectors, consultants, software developers, website developers, quality control specialists, architects, landscape architects, engineers, and quality control specialists.

Professional liability insurance policies are based on a claims-made basis. Thus,  any covered error, omission or negligent act must have been committed before the expiration of the policy.  Any claims for professional errors or omissions that occurred before the policy was active or after the expiration of the policy is typically not be covered. 

Professional liability covers a  broad range of potential risks such as professional negligence,   confidentiality breaches and loss of documents or data. For instance, if you emailed, by mistake, data to the wrong person.   The covered professional’s conduct must be consistent with the standards of his or her profession, to avoid any claims.  Professional liability insurance does not cover criminal acts, libel and slander, breach of warranty, personal injury, and breach of contract.

The agents of Lebherz Insurance in Frederick, MD, will offer a Professional Liability Insurance policy that meets the unique needs of your business.  Please contact us and call for an appointment!