So I Know I Need General Liability Insurance, But What About Professional Liability Insurance?

In this blog post, we walk through examples of cases in which a business needs Professional Liability coverage in addition to General Liability coverage.

We always recommend General Liability coverage to business owners.

In addition, Professional Liability coverage is an important complement to General Liability for companies to mitigate their risk against errors and omissions in the delivery of their professional services. 

As a business professional or owner, you’re no stranger to the fact that your business can be liable for various risks. 

Here we take a look at the types of risk each type of insurance covers: 

General Liability Insurance 

This covers general damage scenarios and physical risks -- think bodily injuries, accidents and property damage. With this, your organization will be covered for accidents or damages that the organization is ordered to pay someone (for instance, if a supplier falls on your property). 

This coverage can also protect your organization’s assets if sued for personal injury, negligence, slander, and more. We would recommend this to all business owners.

Professional Liability Insurance

This covers risks that are not necessarily physical, like an error in the business services provided, negligence, or copyright infringement. It can include coverage for damages caused by things your employees did, or should have done, and can help cover your settlements or court costs, which otherwise would be very expensive for your organization.

Generally speaking, we highly recommend this to organizations that provide professional services, advice to clients or a contractual service, i.e. consultants, engineers, accountants, nonprofits, technology services, medical professionals and more.

The best way to assess if this coverage is right for you is to give us a call and schedule a consultation. Once we have a better understanding of your unique situation and risks, we can make a tailored recommendation for the coverage that best suits you.

Our team at The Concannon Insurance Agency can walk through costs (and cost-savings!), different scenarios and what type of insurance coverage would make the most sense for your business or organization. Contact us today to learn more.