But That’s What My Lawyer Said! Personal Liability and Hartford Business Insurance

046.jpg']

Owning a business can be a very difficult, yet very rewarding experience.  This is especially true with professionals such as lawyers, doctors, accountants, consultants, engineers, and architects. These types of professions are held in high regard for their expertise, however it also makes them highly accountable. 

For this reason, professionals such as these need a solid Hartford Business Insurance policy.  While a typical policy such as this covers the basics, such as assisting employees when they are injured in the workplace or a customer who injured themselves in your office bathroom. But with the aforementioned professions, they may need more coverage because of the increased liability.  There is far more at stake when a doctor gives medical advice to a very sick patient or an engineer gives his professional approval of a multi-million dollar project.  

These are some of the reasons why professional liability is very difficult to insure:

  • Professional AdviceThe long and short of it is this: if the public depends upon your expertise, you may need additional coverage.  These situations are highly important for health and expensive business decision, which in turn also involve a high-level of emotion. 
  • Higher Defense Costs–A court battle that deals with professional error or incompetence can be extremely expensive and time-consuming…enough said there.
  • Identifying A Loss–When a loss occurs and when the actual claim if filed can often become suspicious. Moreover, the claim or suit may not come immediately following an incident, such as a doctor being sued for advice he gave several years prior. This makes things very difficult to insure, hence the special type of Hartford Business Insurance.

So if your business falls under this category, then maybe it’s a good idea to look into a special type of Hartford Business Insurance policy with us at Paradiso Insurance! If you have any other questions, then give us a call today!