There are many classes of business that need Miscellaneous Professional Liability Coverage. They can be:
- Animal Groomers
- Answering Services
- Auctioneers
- Auto Dealers
- Billing Services
- Collection Agents
- Credit/Debt Counselors
- Consultants
- Employment Agencies
- Event Planners
- Expert Witness
- Franchisers
- Meeting Planners
- Notary Public
- Party Planners
- Payroll Services
- TPAs
- Trustees
- Tutors
- Wedding Planners
- And more
If your insured provides professional services for others for a fee, their wrongful act, error or omission, or even failure to render professional services can cause a financial loss to their client. That will likely result in a claim that will not be covered on a General Liability policy because it arose out of their professional services. Your client should not want to go without this coverage. Defense costs alone can be very high, and in some cases, those costs can put your insured out of business!
CLAIM EXAMPLE
Management Consultant: A company alleges that the insured breached its fiduciary duty by failing to provide adequate advice regarding the riskiness of the purchase of assets, the amount and likelihood of a termination fee, and the conflict that its ownership had with state law. Settlement and defense exceeded $500k.
Give one of our Brokers a call today to see how we can help your insured with Miscellaneous Professional Liability Insurance!
Download the flyer: Miscellaneous Professional Liability for Miscellaneous Professionals