Professional Liability Insurance

Professional Liability Insurance (PLI) is a type of liability insurance that helps protect individuals and businesses that provide professional advice, consulting, and service from being held responsible for the full costs of defending against a client’s negligence claim as well as the damages awarded in such a civil lawsuit. The alleged failure to perform, financial loss, and error or omission in the service or product sold by the policyholder are the primary focus of the coverage. 

Liabilities that are covered by PLI include:

• Undelivered services
• Missed deadlines
• Mix-ups, mistakes, and oversights in services provided
• Carelessness or inability to meet standards
• Break of agreement

If you are in business to serve the needs of others by representing them, designing solutions, or offering advice, you would benefit from having professional liability. Examples of such professionals include real estate agents, property managers, attorneys, accountants, consultants, engineers, and many others.