Professional liability insurance covers the financial responsibility for errors, omissions or negligence you may be found liable for while carrying out your profession.
Professional liability insurance covers compensation claims made against professionals — such as doctors, architects, engineers, lawyers and accountants — arising from errors, omissions or negligence in their professional work, within the limits of the policy.
Doctors, architects, engineers, lawyers, accountants and anyone offering professional or consultancy services need professional liability insurance to cover the risks of their day-to-day practice.
From doctors and architects to lawyers and accountants, professional liability insurance can be arranged with terms tailored to a wide range of professions.
Yes, legal defence and court costs incurred in responding to a compensation claim are generally included in the policy.
If your policy includes a retroactive date, activities carried out before the policy started may still be covered — this is confirmed when your quote is prepared.
Deliberate errors, knowing breaches of regulation, administrative fines, commercial disputes arising from the contract itself, and claims arising from activities outside the scope of the policy are excluded.
These policies are usually written on a claims-made basis, meaning the claim must be made while the policy is in force. If you need protection for past work, a retroactive date has to be added to the policy.
Your profession, annual turnover, number of employees, past claims history and the cover limit you select are the main factors.
Financial protection against errors and omissions in your professional practice.
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