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Why Do I Need Professional Liability Insurance?
Professionals with specific expertise in offering advice and services to their clients require liability insurance. When a client says you’re in the wrong—even if you’re in the right—the legal fees can be costly, and Professional Liability Insurance (PLI) is there to support you should a claim be made against you. It provides coverage for many of the legal claims that are not covered by a General Liability Insurance policy. In the event of a lawsuit, Professional Liability Insurance pays for the legal fees, damages awarded against you, and any other associated costs, such as supplementary expenses involved in your defense and lost wages if you need to take time off work to appear in court. In fact, these extra expenses are covered on top of whatever limit of insurance you have in place.