Professional
Services
Insurance

Why do Professional Service Providers need insurance?

Sometimes mistakes are made, contracts are challenged, data is lost, or an event interrupts your project. Unfortunately, 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 can be covered under Professional Services Insurance?

A) Coverage Solutions

B) Builder’s Risk

C) Commercial Auto

 D) Commercial Package (CMP)

E) Environmental

F) Equipment Breakdown

G) Marine

H) Property

I) Umbrella & Excess Casualty

J) Workers Compensation

K) Accident & Health Solutions

L) Crime/Financial Fidelity

M) Cyber

N) Directors & Officers Liability

O) Employment Practices Liability

P) Errors & Omissions Liability

Q) Fiduciary Liability

R) Kidnap Ransom & Extortion

S) Media Liability

Who needs Professional Services Insurance?

A) Accountants

B) Architects & Engineers

C) Community Associations

D) Construction Design Professionals

E) Dentists

F) Lawyers

G) Management Consultants

H) Nurses & Allied Healthcare Providers

I) Real Estate Agents

Consider the following scenarios to understand the importance of Professional Services Insurance.

A) A management consulting firm makes recommendations that fail to deliver the results the client expected.

B) An accounting firm’s network is hacked, resulting in the theft of personal data.

C) 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.

D) A consultant is injured while traveling overseas on assignment.

Discrimination, sexual harassment, retaliation, bullying—charges or litigation against a company on these 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 troubles with the correct information and some thoughtful guidance. Ensure your business, and you are properly protected, talk to us today to know more about professional services insurance.

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