What types of businesses are protected by Professional Liability Insurance?
Any individual, firm, professional or organization that provides services such as giving advice, making recommendations or
designing things commonly purchases Professional Liability Insurance. This includes professions such as accounting, engineering, financial services, brokerage firms, architecture, consulting services, equipment
and software design, real estate and legal services. Some charities and other nonprofit organizations also carry Professional Liability Insurance.
A classic example of a business that benefits from
Professional Liability Insurance would be accounting services. If an accountant fails to perform his job properly or commits "Errors and Omissions", it may not cause physical or personal damage so the
General Liability Insurance policy would not be triggered, however, it directly causes financial losses for which the accounting firm would likely be sued.
Are there specific types of Professional Liability Insurance?
Yes, there are specific types of Professional Liability Insurance that cover specific professions such as Contractors Liability Insurance for the construction industry and Medical Malpractice Insurance for the
medical industry. While Professional Liability Insurance is not required by law for all businesses in Louisiana it is sometimes required under contract by other businesses that may use your business's advice or
Professional Liability Insurance is available through Alliance Insurance Agency for businesses, firms and professionals in
Metairie, Covington and the entire New Orleans area.
If you are a business professional or own a business in the New Orleans area that provides professional services to your clients and customers, contact
a Commercial Insurance Specialist at Alliance Insurance Agency Services, Inc. to make sure you and your business are protected from claims of Negligence, Errors and Omissions!