When you work in a job field that provides services to clients, there is always the risk that a client will file a claim for failure to complete those services. In fields such as mechanical engineering and architecture, it is important for professionals to have professional liability insurance that offers protection when such a claim is made.
Features of Professional Liability Insurance
Professional liability extends coverage to employees who make mistakes when providing services to clients. Some of the most common incidents where coverage is needed include:
- Libel or slander
- Incorrect advice
While mistakes can happen, clients can file claims never extend beyond the accusation of negligence or slander. Even an accusation can cost a business exorbitant legal fees, so it is important to have the proper protection.
Who Needs Professional Liability?
There is an opportunity for error when providing professional services, so any business that works with clients should acquire professional liability. Consultations fall under the category of professional services, so coverage is important to have even when something as simple as advice is being given. When a business such as mechanical engineering firms or architectural firms provides their services, they open themselves up to the possibility of making a mistake. With professional liability, they can acquire protection in the event that errors are made.