Professional liability insurance provides financial protection should your company be held liable for financial damages you or your employees have caused to one another. Did you know that a claim, even if unfair, can result in high legal costs. Professional liability insurance provides coverage towards legal defence and the payment of damages should liability is proven by the claimant.
There are mainly consultative professions that require a professional liability insurance. Some examples:
- IT companies
- Civil-law notaries
- Attorneys-at-law (solicitors and barristers in the UK)
- Medical professionals