Many people think having general liability is enough and sufficient to protect them from a lawsuit but did you know general liability only protects you from incidences arising out of direct physical harm such as a trip & fall at your office. This coverage will only respond to a bodily injury, property damage, personal injury or advertising injury claim or injuries arising from the business itself but not from what you practice.
There are various professional services and products that can give rise to the legal claims without causing any of the specific types of harm covered by a general liability policy. Common claims that professional liability insurance covers are negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice.
Professional liability is designed to protect traditional professionals(e.g. accountants & attorneys) and real estate brokers, consultants, etc, against liability incurred as a result of errors and omissions in performing their professional services. This coverage protects you against liability lawsuits that arise out of a professionals error, negligent acts, or omissions during the course of the practice of his or her craft.
If you are sued, even in a frivolous suit, the cost to defend yourself could be substantial. Don't leave yourself unprotected, purchase professional liability insurance today!
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