Professional liability insurance (PLI) is also called Professional Indemnity Insurance (PII), or Errors & Omissions (E&O). This type of insurance is for businesses which offer advice, consultation, or services. The insurance policy covers claims of: • negligence • misrepresentation • violation of good faith • unfair dealings • inaccurate advice • failure to perform or • errors & omissions.
Call us for consultation and a San Diego Professional Liability Insurance Quote.
Who Needs Professional Liability Insurance?
Professions which enroll in Professional Liability Insurance includes doctors, lawyers, consultants, brokers, accountants, engineers, designers, financial adviser, and other professionals who provide expertise and knowledge.
It is important to note that you will only get coverage for damages and liability when the claim is for transactions within the period you have PLI. For example, if your insurance policy started in 2010, the policy will not cover claims on services rendered in 2005. Because of this, it is important that you have proper insurance coverage right at the onset.
in addition, Professional Liability Insurance must be continuous without gaps in coverage. If you fail to renew your insurance policy on or before the day it expires, you will lose coverage. In other words, a gap in coverage is the same as having no previous coverage at all. There will be no protection for claims against you during the lapsed insurance policy period.
Free San Diego Professional Liability Insurance Quote
All in all, Professional Liability Insurance can be a bit confusing. Please call us for consultation and a San Diego Professional Liability Insurance Quote. KM Insurance Services has been in business since 1978 and we have cultivated relationships with many insurance providers. We can provide you with an insurance policy that is competitive in price and comprehensive in coverage. Don’t leave your business vulnerable, contact us by Email or by telephone for more information: (619) 667-2880.