Professional Services Insurance provided by Browne Insurance Services
As a professional services firm, you are constantly at risk of being sued over services you’ve performed. Even if a lawsuit has no merit, defending against it can be costly.
Why do professional service providers need Insurance?
Sometimes mistakes are made, contracts are challenged, data is lost, or an event interrupts your project. When you work in professional services, these setbacks can turn into serious legal issues that drain your bank account and impact your reputation.
Fortunately, some key coverages can respond well to common challenges professional service providers face.
What coverages can be considers for professional service providers ?
- Coverage Solutions
- Builder’s Risk
- Commercial Auto
- Commercial Package (CMP)
- Equipment Breakdown
- Umbrella & Excess Casualty
- Workers Compensation
- Accident & Health Solutions
- Crime/Financial Fidelity
- Directors & Officers Liability
- Employment Practices Liability
- Errors & Omissions Liability
- Fiduciary Liability
- Kidnap Ransom & Extortion
- Media Liability
Who may need professional services insurance ?
- Architects & Engineers
- Community Associations
- Construction Design Professionals
- Management Consultants
- Nurses & Allied Healthcare Providers
- Real Estate Agents
Consider the following scenarios to understand the importance of professional services insurance.
- A management consulting firm makes recommendations that fail to deliver results the client expected.
- An accounting firm’s network is hacked, resulting in theft of personal data.
- A fire at a graphic design firm causes damage to the building, equipment and personal property.
An employee sues his firm, alleging discrimination and harassment.
- A consultant is injured while traveling overseas on assignment.
Discrimination, sexual harassment, retaliation, bullying—charges or litigation against a company on these and other grounds can be brought by past, present or prospective employees, resulting in potentially costly settlements or judgments and legal bills.
We know that the risks your professional services business faces are different than the risks affecting other service-based businesses. We also believe you can help defend against your unique set of risks with the right information and some smart guidance. Ensure your business and you are properly protected, talk to us today to know more about professional services insurance.