Even if you’re an expert in your business, mistakes happen. And if your client or customer thinks a mistake in your professional services caused a financial loss, they can sue you. These can include damages caused by things you did and/or things that you should have done.
Professional liability insurance helps cover you and your company if you make a mistake in your professional services.
- Court judgments/awards
- Defence costs
- Fees and expenses
- Loss of documents
- Trustees (Liability)
- Medical (general practitioners, nurses, dentists, physiotherapists)
Let's say you're a project manager. You accidentally forget to get to tell your client about needed sign offs causing project delays that increase the cost. Or maybe you're a massage therapist and your client sues you, claiming you caused tissue damage.