What is Professional Liability Insurance?
  • Post last modified:March 2, 2021
  • Post category:liability insurance

In Connecticut, business owners are as important as salaried personal. These owners, no matter the size of their operation help the local community in addition to contributing to the economic welfare of the country as a whole. As many might know, owning and running a business is no easy feat. It is a task that requires hard work, dedication, time, and heart. Business owners are people who, every day, risk losing something, in hopes of achieving something great. Moreover, the job itself is not without its shortcomings, especially taking into account the risks involved. One of these primary risks is professional liability.

At Paradiso insurance, we want you and livelihood to be secure at all times. Here, we describe what professional liability is, what it covers and why would you need it.

What is Professional liability?

Professional liability takes effect at the risk that someone gets sued for causing damages to another person as a result of their work. Note that it can only be invoked if the damages are occurred due to a person’s work.

What is professional liability insurance?

Simply put, the insurance that covers professional liability’s charges and claims is known as professional liability insurance. For instance, if you or any member of your team causes a client or customer to lose capital or face damages as a result of your own errors and omissions, you may be liable to this type of claim and your insurance will cover those claims. Thus, if you make a mistake – unknowingly during your business operation and get sued for it, your professional liability insurance will have your back.

What does it cover?

Your professional liability insurance does NOT bodily injury or property damage, data breeches, work related illnesses and injuries. It will only cover negligence, misrepresentation and inaccurate advices on part of your business.

You see, these kinds of claims can cost a whole lot. Therefore, to save your business and keep it in seamless operation, you need to have professional liability insurance so that you don’t face a huge loss in the wake of any ill-fated or factual claim.

Example of professional liability insurance

Say, for instance you practice medicine and by mistake or employee negligence you carry out some sort of malpractice in the field. In such a case, your client/ patient can sue you for the outcomes and thus, you will be ordered to pay the damages. Quite often, medical professionals do their work under the not inconsiderable threat of facing lawsuits for alleged medical malpractice, which is defined as an act or omission by a medical provider in which they provide treatment that falls below the standard of care, resulting in injury to or the death of the patient. In such a case, your liability insurance will cover for you.

Where to get your professional liability insurance from?

Well, from Paradiso insurance, of course! Insurance agencies ours are a perfect example of a quality agency which establishes excellent relations with their customers in addition to providing some of the best services. At Paradiso Insurance, our agents care about your business and success and want you to succeed in the friendliest of environments.

Get your professional liability plans today! Visit us or give us a call. We’re always here for you.