What Professionals Need a Professional Liability Policy?
Just about any professional can be sued, so most professionals ought to consider getting a professional liability policy. A few examples of professionals who might want or need a policy are:
- Doctors, nurses, physician’s assistants and EMTs
- Attorneys and paralegals
- Investment advisors, accountants, and insurance agents
- Real estate brokers and agents
- Architects and engineers
- Software engineers and graphic designers
- Consultants and anyone else who provides advice
Some professionals in Massachusetts may have professional liability coverage through their employer. Professionals who aren’t sure whether their employer provides coverage should ask human resources. If coverage is provided by an employer, a professional may not need to purchase their own policy unless they also do work outside of their normal job (in which case the employer’s policy probably wouldn’t provide them with coverage).
A few professionals may have to have a professional liability policy to work with particular vendors, colleagues, or clients. A doctor in Winchester, MA, for instance, might need malpractice insurance if they want to admit patients to one of the area’s hospitals.
How Can Professionals in Massachusetts Obtain Professional Liability Coverage?
Professionals who need professional liability insurance should contact an independent commercial insurance agent. This type of insurance typically falls under the realm of commercial insurance, rather than personal insurance, so an agent who specializes in commercial policies will be most qualified to help professionals find a policy. Of course, the agent should also be licensed in Massachusetts, which will ensure they’re familiar with the state’s insurance requirements and markets.
By merely working in their chosen profession, professionals assume a certain amount of potential risk. No one is perfect all the time, but professionals are expected to be. If they make a mistake that results in financial loss, injury or harm, they can be sued. In fact, they can even be sued for an alleged error regardless of whether they committed an actual one. Massachusetts professionals can help protect themselves from these types of risks by getting professional liability insurance.