CA Professional Liability Insurance
If you provide a professional service, such as a Web Developer, Property Managers, Community Associations, Media, Management Consultants, Event Planner, or one of many other professions, Orange County Professional Liability Insurance is a must for protecting your business. This type of coverage would provide protection in the event you are held liable for damages due to your error of those provided services.
Reasons I Need Professional Liability Insurance
The primary reason for professional liability coverage is that a typical Orange County, California commercial general liability insurance policy will only respond to a bodily injury, property damage, personal injury or advertising injury claim. Various professional services and products can give rise to legal claims without causing any of the specific types of harm covered by such policies.
Common claims that professional liability insurance covers are negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice. These risks open you up to litigation.
Professional liability insurance policies, also called Errors and Omissions Insurance are generally issued on a claims-made basis, meaning that the policy will cover those claims made and reported during the policy period. More specifically, a typical policy will provide indemnity to the insured against loss arising from any alleged claim or claims made during the policy period by reason of any covered neglect, error or omission committed in the conduct of the insured’s professional business during the policy period.
Claims which may relate to incidents occurring before the coverage was active may not be covered, although most policies have a retroactive date. To assist you in looking for ways to decrease your insurance risk factors, PJO Insurance Brokerage in California urges you to utilize a list of preventative steps, which may include drug testing, certifications and training, good project management, and team coordination. By doing everything possible to prevent or lower your claims, you may be able to lower your premiums, and, additionally, the savings can increase each year you remain claim free.
To learn how professional liability can be an asset to you California company, please contact us at 949-354-0789.