If you’re a broker, lawyer, accountant, financial advisor, or anyone providing professional advice or services, you need professional liability insurance to protect you from the costs associated with negligence claims.
Professional liability insurance is essentially a form of errors and omissions insurance for professionals. It protects professionals should a client claim that he or she experienced financial loss due to an error or omission made by the professional.
It is important to be aware that virtually all professional liability insurance policies are issued on a claims-made basis. That means that coverage is only provided for claims that are made during the policy period. In other words, coverage stops when your cancel the policy and any claims made before the the policy was purchased won’t be covered.
At Perlas Insurace Services, we can tailor a professional liability insurance policy for your California business. For more information or to get a free quote call 877-737-5271 or fill out our online form.