Policy League Insures Against Liability for Professional Services
The professional services sector of the U.S. economy is one of the nation's fastest growing job categories. Employment in professional, scientific, and technical services is projected to grow by 29 percent, adding about 2.1 million new jobs by 2020. This growth makes the need for professional liability insurance more important than ever.


If your company provides professional services, you may not have anticipated the necessity for professional liability insurance, but it is actually your most critical coverage. It protects you and your business from potentially calamitous lawsuits caused by accusations of professional negligence or failure to perform your professional duties. This may include errors or omissions resulting in financial losses or loss of client data, software or hardware system failure or claims of non-performance.


Why Isn't General Liability Insurance Sufficient?
General liability insurance usually only covers your company for personal/bodily injuries or property damage for which you are responsible. Professional liability insurance expands your protection to include mistakes made by you or one of your employees during the course of performing their professional duties.
For example, if your company performs work for a client and the work results in the deletion of or damage to an irreplaceable client database, your client will likely expect you to pay the cost to reconstruct the database. Or perhaps your company develops a software system that fails to perform as promised, causing your client massive financial losses. Professional liability insurance would cover these costs, depending upon the monetary limits of your policy.
Even in the event of a baseless claim, attorneys' fees to mount a legal defense can easily bankrupt your company. Professional liability insurance protects your company by allowing you to keep the business operational as potential legal action moves through the court system.
Technology Companies Benefit From Policy League's Coverage
If your company is in the technology arena, professional liability insurance can be vital to its future. Here are some examples of instances where professional liability insurance can alleviate a potentially crippling financial loss:
• Loss or theft of intellectual property
• Telecommunications network failures
• Copyright infringement
• Software malfunctions and failures
• Software design errors related to medical equipment
• Long-term web site glitches resulting in loss of revenue
Protect Your Company From Professional Services Liability
Policy League is a broker for several major insurance carriers, so we are able to present you with proposals showing competitive rates and comparisons among various commercial insurance sources. We offer professional services insurance solutions tailored to our client's specific needs. Protect your company by obtaining a professional liability insurance policy from Policy League.