Safeguarding Businesses from the Impact of Litigation Loss
Operating a business is no easy task. As business owners ourselves, we understand the complexities involved. It takes a lot of patience to oversee the production of a product alongside the growth and development of employees. Business owners can relate to this challenge, especially when the burden is too much to withstand.
Professional Liability Insurance, sometimes regarded as Error & Omissions Insurance (E&O) or Medical Malpractice Insurance, backs businesses against the real and costly claims of negligence, misrepresentation, inaccurate advice, and violations of good faith. Liability lawsuits can impact businesses of all sizes and across industries. At King Insurance Partners, we’re in tune with the exposures employers face and are focused on securing an adequate professional liability insurance safety net.
Building a Case for Professional Liability Coverage
Professional liability insurance must be customized to address your business’ specific requirements. For instance, the risks associated with the typical business day of a veterinarian differ greatly from that of a lawyer. However, both professions traditionally rely upon professional liability coverage to safeguard assets. Medical malpractice insurance is issued as a specific type of professional liability policy.
At King Insurance Partners, we take time to gain an understanding of the ins and outs of your particular business operation, identifying potential risks before writing the policy. We’ll then work with one of our trusted insurance carriers to line up a fitting solution.
Professionals in some industries are expected to conduct business based on the standards established within the profession. If mistakes occur, professional liability insurance can reimburse litigation costs, including attorney fees, court costs, judgements, and settlements.
Within the realm of liability insurance servicees, the following options are available for professionals:
- Professional Liability/Errors and Omissions Liability (E&O): Institutes coverage for errors made by employees who operate on behalf of your business, if fees are charged for these services.
- Directors and Officers Liability (D&O): Protects loss if individuals in leadership roles are held liable for actions related to their position.
- Employment Practices Liability Insurance (EPLI): Reduces the impact of loss associated with assertions of employment practices misconduct, including retaliation, discrimination, and sexual harassment.
Together, we can proactively address the threats liability claims can have on your business. To learn more about the options available for protection, contact an agent today.
Keeping Your Business Open to Customers
We relate to the sense of urgency connected with defending your business against lawsuits. After all, like you, we own and operate a company. Therefore, our agents are focused on guiding you each step of the way toward comprehensive protection, making the process as seamless as possible.