Oregon Miscellaneous Professional Liability Insurance
In today’s increasingly litigious environment, even when you do everything right, you can still get sued. Miscellaneous Professional Liability Insurance will protect your firm or practice from claims of alleged negligent acts, errors or omissions in the performance of your professional services as this protection will be excluded under your Business Owner Policy and General Liability Insurance.
Miscellaneous Professional Liability Insurance policies while written on a similar basis, are complex and not standardized, and requires a higher level of knowledge and experience. The key thing to keep in consideration are what do the policies include and exclude.
No two professional liability insurance policies are alike, I walk you through the process to determine what policy will meet your needs. The following are the sections of what to look out for with your Miscellaneous Professional Liability Insurance policy.
- Is your application made a warranty or a representation to the contract? (The information contained in the application becomes a legal part of the insurance contract.)
- Does the declaration sheet include a “retroactive date” (effective date) for prior acts coverage coverage for acts that occurred prior to the policy period?
- How is the ‘Named Insured’ defined?
- Is coverage provided for all persons for whom your business legally responsible?
- Does this include independent contractors who work on your behalf?
- How is a claim defined and does the coverage include claims first made and reported during the policy period?
- Is coverage provided for all services performed by the business?
- Is the definition of when a claim is made sufficiently broad?
- Is an optional extended reporting period available?
- Is the coverage excluded for any services crucial to the business?
- Who selects defense council?
- Does the policy require you to settle a claim?
- Are claim expenses included in the limits of liability?
- Are defense costs applicable to the deductible?
- Is there a requirement to give notice to the insurance company of claims or potential claims?
- At what point does your claim get reported and to whom?
- Are there requirements concerning changes in the business?
Coverage is available to most professional service providers such as:
- Arbitrators and mediators
- Career Coach/Corporate Trainer
- Energy Consultant
- Expert Witness
- Fundraising Consultant
- Grant Coordinator
- Home inspectors
- Human Resources Consultant
- Technical Writer
- Telecommunications Consultant
Read more on the topic of Professional Liability Insurance for Technology Companies:
- Professional Liability Insurance Claim Process
- Things to Know About Your Professional Liability Insurance Cost
- Purchasing a Professional Liability Extended Reporting Period
Reach out to me when you’re considering Oregon Miscellaneous Professional Liability Insurance. I will discuss with you how it works and assess if it fits into your risk management needs. If you determine this coverage is needed I will then provide you with comparative Miscellaneous Professional Liability Insurance quotes from multiple insurance carriers for your practice so you can get the best possible rate.
As an insurance broker I help businesses throughout Oregon and the Pacific Northwest manage risk.