As a busy professional, you are trusted for your expertise every day. In fact, your expert opinions and advice are what customers pay you for. Are you protected from the consequences of claims that arise from that advice?

In different professions, it may be known as malpractice insurance or errors and omissions insurance but at the core the concept is the same: to protect you in case of negligence lawsuits from your clients.

Professionals such as lawyers, accountants, real estate agents, and physicians are subject to liability losses that are generally not covered under their general liability policy. Professional liability insurance is usually required because general liability insurance does not offer protection against claims arising out of professional negligence, malpractice, or misrepresentation.

Professional liability policies will only cover economic or financial losses suffered by third parties. An Illinois professional liability policy can help protect you and/or your firm against losses resulting from negligence, malpractice, misrepresentation or errors and omissions committed during the performance of your professional services.

Negligence lawsuits focus on the failure to perform based on expectations or a contract, alleged misrepresentation, and other claims. They claim financial loss for the client based on your alleged actions.

We have a current client who is a graphic designer and owns a company which sets up, designs, and hosts websites. When he first inquired about insurance he was only asking about general liability insurance. A Northwest Insurance Brokers agent explained that what he really needed along with general liability was professional liability insurance. The agent explained that while general liability protects against injury or property damage to other people, it will not protect him from any errors or omissions while designing and hosting websites for his clients. The client ultimately purchased both general liability and professional liability for his company and is now adequately covered.

At Northwest Insurance Brokers we have a number of markets that specialize in professional liability and can ensure that your business is covered comprehensively against any professional liability risks that may surface. Please call an agent and inquire about receiving a quote today!