Anyone who works in a professional role is generally expected to execute their skills and expertise correctly, and they might be held accountable for any errors they make. Professional liability insurance policies may help protect professionals in Massachusetts if they make a covered mistake when working.
Professional liability insurance is a specialized commercial liability coverage. As a liability coverage, the insurance will usually help pay legal fees, judgements and settlements arising from covered claims.
Most people who work in a professional capacity should consider getting professional liability coverage, especially if they offer advice to clients, customers or patients. Just a few examples of professionals who might need coverage include:
In some cases, Massachusetts law may require professionals to purchase a minimum amount of protection. Professionals who aren’t legally required to get coverage can often still benefit from having it, though.
Employers sometimes purchase professional liability policies that cover their employees, and employees who have coverage through an employer often don’t need to purchase their own one. Before assuming that an employer’s policy offers complete protection, however, employees should be aware of at least two potential shortcomings in employer-provided coverage.
First, employers normally are the ones who select how much coverage the policy that they purchase affords. While many employers procure plenty of protection, a few employees might not receive as much coverage as they personally would like.
Second, employer-purchased policies typically only cover work that employees do for their employer. Moonlighting and doing things pro bono frequently aren’t covered, and professionals occasionally are held responsible for mistakes made while completing side gigs or charitable work. Thus, professionals might still want their own policy if they’re doing a lot of work outside their main job.
Professionals who are unsure whether their employer’s policy offers adequate protection can ask an insurance agent who specializes in this type of coverage to review their employer’s policy. A knowledgeable agent will be able to explain what protections the policy does and doesn’t offer, and then they can work with professionals to determine whether purchasing a supplemental policy makes sense.
Because professionals do a lot of different work, insurance companies offer several different types of professional liability policies. Some of the more common ones are:
Insurance companies offer many package policy options that combine professional liability protection with other valuable coverages. For professionals who need multiple coverages, obtaining coverage through a package policy is frequently the most affordable option.
For help finding a professional liability insurance policy that suits your work and situation, contact the independent and experienced team at Dempsey Insurance. Our insurance agents have helped many professionals in Massachusetts find the coverage they need, and we’d be happy to help you as well. Because we’re an independent agency with experienced team members, we can help you identify the best available policy no matter what insurance company offers it.