Does your business need professional liability insurance coverage?
Florida Professional liability insurance no longer applies to traditional professional, however, it does apply to any organization or individual that provides a service. There are many categories of businesses eligible for Miami professional liability insurance coverage. Physicians, attorneys, architects, engineering, consulting and financial firms all have specific requirements in protecting their principals and employees in the event that a claim arises in the performance of their duties.
Miami Professional Liability Insurance can protect you from:
One of the most important things that professional liability insurance protects you against is negligence claims by clients or patients. This means that for any case that goes to court where the other party is claiming negligence on your part for services rendered or offered, you will be protected up to the amount of negligence insurance coverage that you purchase in your policy. Though negligence claims can be filed by any of your clients for any reason, they usually must meet a thorough review standard in pretrial motions in order for lawsuits to proceed. It is difficult to prove negligence in a court of law, but this is by no means justification for a professional to not carry insurance liability coverage for this.
This aspect of professional liability insurance protects you in cases where your client or patient alleges that you misrepresented some aspect of your interaction with them, and that they have suffered some form of quantifiable damage resulting from this misrepresentation. Ensuring that coverage for misrepresentation is an ample part of your Miami professional liability insurance coverage policy is extremely important, because this is one of the most common forms of claim made against working professionals.
Violation of Good Faith
Another of the most common forms of claims made against working professional is the violation of good faith principle. Violation of good faith claims occur when your client or patient alleges that you acted with intent to defraud or to commit some form of malicious malfeasance against them during the course of your interaction. While this is hard to prove in a court of law, you need to ensure that you have ample coverage for this in your policy as well.
And probably the most common form of claim made against working professionals is the claim of rendering inaccurate or incompetent advice. These claims occur when your client or patient alleges that you did not give relevant counsel or advice during the course of your interaction, and this inaccurate or incompetent advice led to some quantifiable loss for your client or patient.
Don’t let a small mishap turn into a large lawsuit. Protect your business and your future with professional liability insurance.
Make sure to speak to one of our specialist for a FREE professional liability insurance quote today.