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Posted on: December 14, 2016 by Huntersure
If you are going to be working as a consultant, it is imperative that you have Professional Liability Insurance for Technical Consultants. Every business should have professional liability insurance, and consultants are no exception. In addition to providing protection from lawsuits and correcting any errors that may come up, providing proof of coverage will demonstrate your professionalism by proving that you have taken appropriate precautionary measures.
Professional liability insurance, also referred to as errors and omissions (E&O) insurance, differs from general commercial liability insurance by providing coverage for acts that are not protected by general commercial liability insurance. As Insurance Quotes puts it, professional liability insurance provides coverage and protection from anything that you or your company does that could cause loss or damage. Regardless of how hard you may work, human or technological mistakes are always possible, and professional liability insurance will protect your business and your personal assets.
It is extremely important for technical consultants to have professional liability insurance; in fact, many companies require consultants to show proof of coverage. As TechRepublic states, consultants do not have the same level of finances and resources as large businesses. Because of this, a client’s lawsuit has the potential to be very damaging for independent consultants. Additionally, the technical field, in particular, has its own unique opportunities for error. TechRepublic continues to specify that the continuing implementation of new technologies makes puts tech industry at a higher risk due to the chance of software or system failure and the lack of legal precedent for newer technology.
Huntersure LLC is a full-service Managing General Agency that has provided insurance program administration for professional liability products to our partners across the United States since 2007. We aim to provide exceptional, creative, and personalized insurance solutions to the members of the business world. To learn more about the professional liability products and protection we offer, give us a call at 646-751-3030.
Posted in: blog Professional Liability