APPLICATION FOR PROFESSIONAL LIABILITY INSURANCE 2025

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If your work has the potential to negatively impact your clients finances, its crucial to secure professional liability insurance. For example, an architect might make a mistake in a blueprint, or an interior decorator might fail to match a paint swatch provided by a client.
What is the average cost of professional liability insurance? Small businesses pay an average premium of $61 per month, or about $735 annually, for professional liability insurance.
Professional liability covers negligence related to advice and services. For example, it can protect a lawyer whose client sues for poor counsel or a consultant whose mistake causes financial loss.
Oversights: An accountant fails to file an IRS tax form on time. Missed deadlines: An engineering firm blows past a key date for completing an environmental assessment. Professional negligence: A real estate agent fails to disclose property information.
Legal liability for damages due to injuries to other persons, damage to their property, or other damage or loss to such persons (including the expenses of litigation and settlement) resulting from or arising out of any tortuous act, error, or omission of the covered individual (whether common law, statutory, or
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The two basic types of malpractice insurance are claims-made and occurrence-made. Claims-made insurance protects you from malpractice claims only if the company that insured you at the time of the alleged occurrence is the same company at the time the claim is filed in court.
Depending on where you do business, professional liability insurance might be mandatory. You could be cited for not carrying proper insurance, even without a lawsuit. If you face a claim without adequate insurance, courts might require you to use your personal assets to pay the damages and fees.
Professional liability insurance (also called malpractice insurance) is coverage that protects a qualified professional against claims alleging negligent acts, errors, or omissions in the performance of providing professional services (defined as those services for which one is certified, licensed, accredited, trained,

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