antalek Moore

Professional Liability Insurance from New York Experts

In many fields, the expertise of you and your employees is the most valuable asset of your business. Professionals that offer advice and services, such as lawyers, medical professionals, accountants, and architects, provide important services to their clients. In turn, your clients depend on you to correctly and expertly help them with their situation. When an error or negligence occurs or is perceived, lawsuits can result. To better protect your New York business, professional liability insurance can help to cover the costs of these expensive legal actions.

Studies show that professionals in nearly all fields run the risk of being sued by a client. While doctors typically carry malpractice insurance, New York lawyers, accountants, engineers and other professionals may not have protections against this type of lawsuit. Whether the error was real or the client simply did not get the outcome they expected, your legal fees can quickly mount. Professional liability insurance can help professionals in a wide range of fields survive such covered allegations.

Professional Liability Insurance Coverage

Professional liability broadly defines a wide range of insurance coverage that helps pay for legal defenses, court costs, and settlements when a covered error or negligence occurs as part of your business.

Depending on your field, your policy may be more specialized such as:

  • Malpractice Insurance for doctors and other medical professionals.
  • Errors and Omissions Insurance for professionals who primarily offer advice and knowledge from which clients make decisions.
  • Directors and Officers Insurance for corporations to protect the executives and corporation from lawsuits.

When a claim is filed, your insurance can help to cover your legal costs. This is true whether you have actually committed an error or negligent act or you are found to be not liable for the charges.

Call us or set up an appointment to learn more about what makes each member of our team a dynamic resource for your New York or national insurance needs.

New York Professionals

Professional fields span a wide range, and almost anyone within these fields can be sued. Some professional fields especially at risk include:

  • Accountants
  • Engineers
  • Technology providers and computer programmers
  • Medical and dental providers
  • Insurance agents
  • Real estate agents
  • Financial advisors
  • Lawyers

Your insurance agent can help you determine what type and amount of coverage will provide your business appropriate protections.

Claims-Made or Occurrence Coverage

When purchasing your professional insurance policy, please be aware the most common coverage form is “Claims Made” vs “Occurrence”. These two types vary in their coverage period, with a claims-made policy only covering events that occurred and were filed during the coverage period. Occurrence coverage will cover any event that occurred during your policy term, even if the policy has since expired.

To err is human, but in today’s society this can quickly lead to expensive lawsuits. Professional liability insurance is an important protection for professions in a wide variety of fields. New York professionals who feel they may be at risk for future lawsuits should discuss professional liability coverage with their insurance agent.

 

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