Professional Liability Insurance in Florida
In the Unites States professional liability insurance is more commonly known as errors & omissions (E&O) and sometimes also called professional indemnity insurance. It is a liability insurance that protects service practitioners in the event client gets harmed due to the service provider professional advice for which they are held legally liable.
As professionals in Florida we handle every type of risk imaginable. We all know that mistakes happen on a daily basis in business, but the question is do you want to be liable for the mistakes or the potential damages that they may cause?
Professional Liability Insurance in Florida typically covers:
- Negligence: It includes alleged mistakes or advice on your part and a failure to provide professional service within the stipulated period.
- Defense cost: Professional Liability Insurance Coverage= Defense Cost + Court Cost
- Past services: For up to agreed period, your business will be protected for the services completed in the past.
- Employees and Independent Contractors: It also covers the mistakes made by your employees, temporary staff or independent contractors employed by your firm.
Who Can Be Sued?
Anyone in a profession whose advice or service can result in a financial loss must get professional liability insurance in Florida. The following list of professionals isn’t complete, but if you fall on this list, then liability protection is a must.
- Insurance professionals
- Graphic designers
- Management consultants
- Software developers
- Information technology consultants
- Investment advisors
- Real estate agents and brokers
Very large organization’s directors and officers are also protected under Professional Liability Insurance in Florida. Lawsuits aren’t limited to certain areas and can come from a variety of sectors.
Is My Business At Risk For Being Sued?
Unfortunately, anyone can be sued! If your business is to provide advice or guidance, you may find yourself at risk. Professionals from the accounting industry, health practitioners, architects, consultants and designers could find themselves on the wrong side in a suit filed against them. Statistics reveal that the medical professionals are more likely to be sued when compared to other industry professionals.
Before the big one hits you, it is best to get prepared for the lawsuit. Protecting your business reputation and finances with affordable professional liability insurance in Florida is imperative if your prospective clients pay for your knowledge, care or expertise.
Other Tips To Prevent Business Lawsuits:
Be careful: Avoid improper statements or questions
Experienced lawyer: Who can advise you best with the steps you should take in the event of a lawsuit filed against you.
Confidentiality: Protect your client’s data because a data loss can give rise to serious liability claims.
Professional Liability Insurance can pay for the legal costs incurred to defend you against law suits arising from your business. Remember most Commercial General Liability policies will exclude errors as they would be covered under Professional Liability Insurance policy. Professional Liability Insurance coverage includes legal defense costs and court costs.
How Do I Get Professional Liability Insurance in Florida?
We live in the era where people love to sue, so it’s very essential to protect yourself and business with professional liability insurance coverage in Florida. The coverage amount and the claim limit are significant factors to be considered when getting your Professional Liability Insurance policy in Florida. The best way to get the right coverage plan is to talk to professionals insurance underwriters of an agency like Diverse Insurance Group who have years of experience in the insurance field including ex Citizens Property Insurance Underwriters and Inspectors.
We are one of the leading providers of affordable professional liability insurance in Florida. Our platform provides every professional with the best Florida personal liability insurance that fits within their limited budget, and eliminates the hassle to shop around. Our around the clock customer service will help you with your policy and claims throughout.
We provide a range of Professional Liability, which includes, Commercial Insurance, Contractors Liability Insurance, Commercial Property Insurance, Workers Compensation Insurance, Business Owners Property Insurance and General Liability Insurance.
Click here to obtain a FREE quote for affordable Professional Liability Insurance in Florida.