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Professional Liability Insurance from GMG Insurance

Clients or patients entrust their personal, business and financial health to your professional expertise. If you fail them through error or omission, they could file a professional liability or malpractice claim against you. Consultants, technology firms, doctors, lawyers, accountants, and architects and engineers are just some of the professionals who will benefit from a professional liability insurance policy from GMG Insurance.

Covering Your Professional Work

Your professional advice and the work you perform can be insured for errors, negligence and failure through a professional liability insurance policy. Such a policy can cover all levels of employees who provide “professional” services, which have been defined by courts as those actions requiring special training or higher educational degrees or certifications. That means that allied health workers, for example, may need coverage even if they aren’t doctors or nurses. Paralegals might need to be included, even though the lawyer is the person hired by the client.

Policies can insure individual professionals and professional firms, and they can cover innocent partners as well. Some insurers will cover actions by predecessor firms as well as independent contractors working on behalf of your firm and lawyers who are of counsel.

Coverage Benefits

Since a general liability policy typically excludes professional services, your firm would really be risking it to forego malpractice insurance. Also known as legal liability insurance or errors and omissions insurance, professional liability policies cover costs for legal fees, damage awards, and settlements.

If you want to protect the amount of money available for paying damages, we can write your policy to pay defense costs outside of liability limits. It’s also possible to obtain coverage that pays legal expenses from the first dollar charged; hence, it is known as “first-dollar defense” coverage.

For firms that want to insure against claims arising out of work done before the initiation of the policy, we offer prior acts coverage. If you want coverage for professionals who are about to retire, there are policies that can accommodate that. GMG Insurance also offers policies with extended reporting periods that allow for coverage for a set period after your policy term expires.

Coverage for the professional service and advice you provide.

Turn to GMG Insurance for personalized attention on managing your assets and securing products that accommodate your lifestyle, now and as it changes over time. Contact us at (215) 497-9240; (800) 540-7900; or email at info@gmgins.com.