Tag Archives: professional

What Does Insurance Agent Professional Liability Cover?

insurance agent professional liability

insurance agent professional liability

Many independent insurance agents start offices on a shoestring budget. They look to cut costs in every area, including insurance. They may wonder about the necessity of coverage to protect against insurance agent professional liability. Instead of purchasing insurance, they may decide to save the money by carefully checking their work product and ensuring it meets the highest standards possible. However, this strategy may leave agents vulnerable to significant risk.


Lawsuits Are Not Directly Related to Quality


Many agents issue standard policies on boilerplates provided by their providers. In many ways, they reason, there is not much occasion for error. However, any judgments on the part of the agent are candidates for a challenge by the client. These include:


  • The level of the insurance
  • The amount of the deductible
  • Any decision point in the policy


Often, top-notch agents are sued by clients even though the work product is essentially perfect. At that point, the agent must deal with the court costs of the suit, even if it ends in his or her favor. The time the agent spends in court can also account for a significant loss of earnings. This means that every insurance agent has exposure to E&O lawsuits.


Lawsuit Triggers


Often, an E&O claim occurs when a client files an insurance claim and comes up short. Many clients in this situation attempt to cut their losses by making a malpractice claim against the agent. For this reason, E&O coverage is essential to protect against insurance agent professional liability.


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Insurance as Business Protection

Architect professional liability insurance

Architect professional liability insurance

An architect is a creative contributor to society, bringing buildings to life, transforming an idea from a two dimensional whim to three dimensional masterpiece. There is an incredible amount of detail required in even a modest house. So when a mistake or a perceived mistake occurs somewhere in the lengthy process of bringing a project to fruition, it can be a big blow. Because of that, architect professional liability insurance is not an optional expense, but is a necessity. If someone successfully sues, that can mean many thousands of dollars or more which can affect an architect’s career for years. That means you not only have to make up the damages, but you need to earn an ongoing income at the same time. Good insurance is a defense that helps staving off such economic damage.


Who and What Can Be Targeted


Clearly, for an architect professional liability insurance is a must. Fellow professionals involved in the design and building process may also be at risk when an error or omission is claimed. These could include some of the following:



A six figure income is usually required for a major liability policy. Policies can be customized for particular projects, such as an apartment complex or an office building. It can cover property damage and injuries, as well as pollution damage.


It Protects Your Business with Coverage


Legal battles alleging errors or omissions by a professional are expensive. Not only does it take time away from work, it actually costs you money, which creates a compounding financial effect, especially if you lose. A policy like architect professional liability insurance can help defray the costs of legal defense, damage awards, or settlements. Then you can get back to work and keep turning a profit.

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2 Reasons to Get Nursing Home Professional Liability Insurance

nursing home professional liability insurance

nursing home professional liability insurance

In the current market, obtaining reliable coverage for nursing homes and assisted living facilities is more important than ever before. However, many facilities in the country remain uninsured, despite potentially significant liability claims. There are two main reasons why pursuing a nursing home professional liability insurance plan can be a necessity.


1. Increased Business


Some potential residents avoid nursing homes that are uninsured because of how certain losses could affect them directly. Individuals tend to seek stable facilities that would be able to effectively pay for claims without risking their solvency. Litigations against uninsured nursing homes can be so financially devastating that it can become impossible to maintain the desired quality of resident care, which can result in more claims. Thus, a lack of nursing home insurance alone can drive potential residents to seek alternate living facilities.


2. Legalities


There are also legal components of nursing home operations that must be taken into account. Increasingly, certain statutes are being passed that give residents the right to sue these facilities. Additionally, some states are now considering passing laws that require nursing homes to obtain liability insurance coverage.


Seeking a strategic nursing home professional liability insurance plan is increasingly vital for the successful operation of a facility. The stability of this coverage may encourage new residents, while also protecting against severe financial burdens. Insurance providers possess helpful knowledge regarding residents’ rights statutes and liability threats.

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