Tri-State Insurance Agency: Professional Liability Insurance for Today’s Litigious Environment

A typical commercial general liability insurance policy does not provide coverage for liability claims as a result of professional services. Any error or omission you make in the course of providing your services that results in injury to others or damages to their property requires separate insurance under a professional liability insurance policy for proper protection.

A professional liability policy, also known as errors and omissions (E&O) coverage or malpractice coverage, covers your legal liability for damages, injuries or illness resulting from your professional services. It is designed to pay for legal defense expenses up to a certain limit as well as out-of-court settlements and court-ordered damage awards. It can also be designed to pay for attorney fees from the first dollar forward, known as “first-dollar defense.” There are also options for covering prior acts (those that occurred before you initiated your policy) or those surfacing after you have closed your firm or practice.

Who purchase professional liability insurance?

Basically, any company that offers advice, designs things or builds them needs Professional Liability insurance. This includes doctors, lawyers, realtors, contractors, accountants, engineers, and software consultants, among many others. But just as the professions and the services provided differ so do the policies that cover them. Tri-State has access to a number of markets to secure the appropriate Professional Liability coverage for you.

Talk to the professionals at Tri-State about insuring your professional liability risks.

Tri-State Insurance Agency provides a comprehensive business insurance portfolio for companies throughout Pennsylvania, northern New Jersey and New York. Give our professionals a call toll-free at 888.990.0526, email us or fill out and send the form on this page for a free consultation and quote.