Working as a professional in just about any career puts you at risk of being held liable for anything you do. For example, you work as an engineer and you miscalculated on an enclosed glass atrium, resulting in welds that didn’t meet load requirements. A simple error, but it can end up costing you thousands of dollars, even more, if someone is injured. To answer the question, “Does your insured need professional liability insurance?” Yes, if they work in any career as a professional and or own their business, Professional Liability Insurance combined with General Liability Insurance is the best way to ensure they are adequately protected.

The best way to think of Professional Liability Insurance, also called Errors & Omissions, is as insurance for those of us who make our livings solely from our expertise. On the other hand, General Liability Insurance is there to cover the many mishaps and accidents that can occur to virtually any business owner. PLI covers any lawsuits that might come your way. Again, as a business owner (even a sole proprietor), you should have both types of coverage.

The list of those who need PLI includes virtually anyone who has engaged in extensive training in their chosen field. This includes automotive technicians, lawyers, IT consultants, lawyers, engineers, doctors, architects, and many others. If you are to be considered an expert in your field, your customers expect you to have the appropriate training, experience, and license as required.

While working, your clients expect you to meet or exceed all standards relating to your field as set by the state, your contact, and the industry as a whole. If at any time you fail to meet one or more of these standards, you might find yourself facing a jury in court. Professional Liability Insurance can be there to cover any lawsuits a customer might file for:

• Mistakes in Your Work – This could be as simple as the above example of leaving lug nuts loose or as complex as failure to put all the screws in when completing a major bone repair. Either is likely to end up in court.
• Failure to Deliver Services – From not getting the job done on time to not completing it all. Both can lead straight to a battle between lawyers. One that you are bound to lose. PLI is there to ensure you have the ability to remain in business once the dust settles.
• Negligence – This is one of the leading reasons why so many professionals end up in court. It can also be the most expensive. But, if you are protected with the appropriate Professional Liability Insurance, your out of pocket expenses and the damage to your reputation are

A lawsuit could end up costing you and your business hundreds of thousands of dollars, especially if the building you designed happens to collapse and become nothing more than a massive pile of rubble. Ensuring you have the appropriate Professional Liability Insurance can be the difference between being able to weather the storm and ending up penniless and starting over from scratch.